Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-10-30
Transactions Today Fell Off
Still Further.
PROFESSIONAL TONE RULED
Rise in Money Accounts for the De-
cline.
MUCH POLITICAL UNCERTAINTY
Dividend Action Of the Steel Directors
Is Looked Forward to With the
Greatest Interest.
PROFESSIONAL TONE RULED
MUCH POLITICAL UNCERTAINTY
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, October 3O-The volume OF
business in todays stock market showed
about the same extent of curtailment In
comparison with yesterdays as yesterdays
did with Fridays total. Such transactions
as were conducted were almost again exclu-
svely for professional account, and mas
much as prices have risen leisurely. If irreg-
ularly, since the close of business on Thurs
day, 1t was rather natural that today they
should exhibit reactonary tendencies.
One explanation of the downward drift OF
the market today might be named In the
rise In the rates for money on call, although
the movement there did not attain remark
able proportions in view or the state OF the
bank reserves and the period or the month.
The political situation and outlook con-
tinued to furnish the chief theme of discus
sion SO far as the general market was con-
cerned. and 1t did not appear that there was
any dimunition in confidence as TO tne OUT
come of the voting week hence. Still. the
remaining uncertainty in that respect was
doubtless in large part responsible for the
meager sum total of the days transac-
lions.
Another factor influential in the same
direction, or at least named in that respect
was the uncertainty as to the action TO De
taken upon the dividend on United states
Steel common stock at the directors meet
Ing this afternoon. 1t was commonly ex-
pected that the quarterly statement OF the
CORPORATION would make very handsome
exhibit, but in view of July's unexpected
action on the dividend on the common, IN
terest In the quarterly report was over
Swallowed by the conjectures as to what rate
could be fixed this afternoon.
United States Steel common furnished a
large proportion of the days total trans
actions and the movements in the stock
during the greater part of the business ses-
sion were in line with those in the general
market The same observations might be
applied to the transactions in Pennsyl-
yania the extensive advance in which yes
terday excited the most confident expecta-
lions that the annual dividend on the
stock will be established upon per cent
basis on Thursday.
The reactionary course of these two lead
ers of the market was doubtless an addf-
tional influence In the course followed by
the general list.
No real news and very little interesting
gossip attached to the transactions else
where. Aside from Amalgamated Copper,
Reading and Union Pacific, and those al
ready mentioned, the dealing in particular
stocks was upon an inconsiderable scale.
The general London stock market was
somewhat depressed today, mainly because
Of the stiff contango rate exacted on con-
soils at the monthly settlement in those Sc
curities. American stocks were, however,
exceptionally firm, and the transactions
here for foreign account, while In greatly
reduced volume. were again wholly on the
buying side.