The Washington herald., 1907-10-05
MARKETISAPATHETIC
New Low Record Is Nearly
Reached On Exchange.
TOTAL SALES $4,000 SHARES
Opening Higher Than Preceding
Days Close, and Temporary Weak
ness Followed by Stronger Tn
dertOne, Which Is Maintained.
Southern the weakest stock.

New York, Oct. 4-To-day's stock mar
ket was an Insignificant affair The to-
tai sales Of stocks amounted TO less
than 10000 shares, almost a new low rec
ord OF the kind for the year, and net
changes in prices were irregular and IN
consequential. while the sparse attend
ance on the floor of the stock exchange
and the utter quiet for long periods OF
time of the stock quotation instruments
In commission houses testified other
wise 10 the prevailing apathy.
The market opened a little higher than
II closed yesterday, then sagged OF some
what and finally became frmer, main
tanning this stronger Undertone despite
the dUllness until Just before the close
Of business. when a few prOit-taking
sales again depressed quotations
The market only reflected to-day an in
disposition to make commitments on the
part Of the professional operators, who
have contributed the only degree Of life
to the speculative situation that has been
present during the week.
Southern Weakest Stocks.
The weakest stocks in the market were
the Southern Railway common and pre-
fcrred issue. and the selling in this
quarter has been in evidence for one or
Two days past apparently has been based
upon the showing made In the company s
statement, recently published. covering
operations Of the system for the first two
mCaths OF the financial year. Decrease
in net revenues exhibited is such as 10
manifcstly raise a question concerning
the ability of the company TO continue
dividends on its preferred stock even at
the reduced rate al which these are now
being paid
On the other hand, strong stocks to-
day were the metropolitan
common and preferred and collateral
trust AZ per cent bonds, the gain here
being caused undoubtedly by the pub
hcatiOn this morning OF the company $
statement concerning the exact relations
between it and the other companies in
the Inter.-Met. system.
Foreign Markets Stronger.
There were some particularly favorable
developments. one of these being the
very decided Improvement shown in the
foreign financial markets. especially on
the London stock exchange. For sew
eraI days past these markets have been
heavy, if not definitely weak. and selling
Of stocks here during the last fortnight
has beon estimated as high as 10000
Shares.
As far as could be determined, this
weakness has been largely due 20 fears
concerning the outcome of the October ]
settlement, which, as is now disclosed.
were Unfounded. At any rate. with the
satisfactory conclusion of these settle
ments, the markets abroad have al dis
played a much stronger undertone.
The price Of Cousols rose to-day nine
siNteenths Of a point this constituting a
very large rise and the Paris and Ber-
lin markets, IL not exactly buoyant, were
OeHnltely strong. A feature of the ad-
NaHcinS tendency In these markets was
a rise in Copper shares and In the price
of copper metal.
Again to-day a matter for encourage
ment locally was the fact that call money
rates were relatively easy. although the
indications were not overnight for a
favorable bank statement tomorrow.