Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-08
ReaCtiondry Tendencies Mark
ed the Dealings Today.
A DIVIDEND STIMULATION
But N. P. Broke Sharply After An
nouncement.
DECLINE IN THE RAILWAYS
London Market Observation-Disclosures
Sales Directed From
Amsterdam.
A DIVIDEND STIMULATION
sneclal nisnateh TO The Star.

Special Dispatch 10 he star
NEW YORK, October S.-Throushout
the raater port of the business session
the stock market exhibited decid diy re
dictionary tendencies in comparison with
those which prevailed in yeste days
Closing dealings. For a short time during
the morning speculative sentiment was
mildly stimulated by the expectations
that some extra dividend would be de-
cared upon Northern Pacific stock. but
shortly before the noon hour the regular
quarterly rate was announced. Northern
Pacific had scored an advance of nea ly
one point in the early dealings upon the
idea in question, but 1t broke very sharply
upon the announcement of the dividend.
That the stock would be in the receipt
OF some extra distribution of profits or
equities has been one of the most per-
sistent rumors in circulation in Wall
street for number of weeks past Even
after this mornings announcement there
seemed to be Lingering belief that some
action OF that character had alter all
been only deferred. and the stock upon
occasions rallied sharply.
There Is very large short interest in
Northern Pacific, but the contracts of
this description represent manly arbi-
TRACING transactions between the old
stock and that now under subscription.
Declines in Railway List.
1t would hardly be fair to say that the
declines in the railway list or elsewhere
in the market were attributable to the
break in Northern Pacific. but there was
little otherwise to be instanced in con-
nection with the course Of prices.
The London stock market was likewise
Teactionary. and uncontirmed rumors
were current there of serious business diff
nculties in Amsterdam. Quite extensive
selling operations directed from that city
were conducted in the London market,
and in the local dealings the weakness of
Chesa peake and Ohio and Missouri, Kan
sas and Texas was ascribed to selling for
continental account. Actual news relating
TO railway stocks was limited to the days
dividend announcements and to the state
ments of earnings reported.
The interest taken in the Northern Pa
CHIC dividend caused that stock to take
me foremost position in the market In
point OF activity
Notwithstanding the weakness of the
London market and the pressure evident
upon the American department there. op-
eralohs mere for foreign account were
upon a small scale. although these were
hampered TO great extent through the
interruption to the Geographic service
The latter circumstance was also effect
I've In reducing the volume of business for
domestic account, as the wires to west
etn and southern cities were working bad
iy- At the same time total transactions
were considerably in excess of recent
averages.
The dealings in the industrial and mis-
cellaneous Issues exhibited the same gen
eral characteristics as those In the rail-
way list. Copper metal was firm in Lon
don, but declined in the local market and
the near approach of the dividend upon
Amaigamated Copper stock led to some
weakness in that security. Misgivings as
to the rate to be declared were doubtless
Increased by reduction of per cent in
the half yearly dividend in the shares of
the Rio TintO COMPANY at London