Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-15
Another Bad Day on the Stock
Exchange.
PRICES FALL STILL LOWER
Some Support From Big Financial
Interests.
LONDON IS VERY DISTRUsTFUL
Selling for the Foreign Account was
Large-Industrial Shared
the Depression.
PRICES FALL STILL LOWER
LONDON is VERY DISTRUsTFUL

Special Dispatch to The Star.
NEW YORK. October 15.-Today's stock
market underwent a number of sudden
and quite extensive swings In prices,
which impaired a highly Irregular appear
ance To the market a whole. First
prices were higher in all departments. but
soon after the opening quite a sharp re-
action occurred, VIII Oh carried the quota
tons for many stocks down to the lowest
figures yet touched.
At the time this reaction was dscribed
TO reports that serious race riot had
occurred in San Francisco, in which a
number of Japanese had been killed
Later advices placed the matter in a
trivial light. AS matter of fact. or at
any rate. according to the common
opinion. the reaction in prices after the
opening was caused by fresh 0utburst
of liquidation. which was pronounced.
however. only in a small and more or
less concentrated group of stocks. Be
fore midday the declines scored on the
setback in question had been largely
recovered. and during the remainder of
the business session prices continued
to huctuate as irregularly as before.
Some Heavy Purchasing.
TIE support which was accorded to the
market yesterday was again evident to-
osy. although of course. it less
needed than it was then. In add ton to
buying OF this description commission
houses generally reported that the further
break in prices last week had brought
about a renewal of The purchases of odd
lots OF stock. such as have been conducted
upon each period of market unsettlement
during tn, present wear
AS has been the case before. these pur
chases in the aggregate have already
reached large dimensions. They have
also in rart been reflected in the decline
In the rates OF exchange on New York
at interior points. although further In
fiuence in that respect has been the re-
mittance of funds to restore depicted
margins. The days fresh developments
comprised little of general Importance.
Sterling e1-change was reactionary and
somewhat easier conditions were evident
In the money market.
Rather keen interest was taken In the
approaching meeting OF the stockholders
of the Illinois Central ia lroad, especially
in the light of the various legal proceed
ings instituted in the matter OF voting the
stock held on behalf OF the Union Pacific
Company, but there were only smaii
transactions In Illinois Central stock. and
1t seemed 10 be the common opinion that
even II the Union Pacific holdings are en-
Joined from being voted the control OF
Illinois central property WOulu remain III
the hands OF the present dominant inter
ests.
The charges of rebating brought by a
member of the interstate commerce COM
mission against the Southern Pacific rail-
way was a matter which came In for
good deal of discussion. although neither
Southern Pacific nor Union Pacific ap-
peared TO be specifically affected in con-
sequence. Both stocks traversed the wide
range OF fluctuations followed by the mar
ket at large.
The traction shares were comparatively
neglected. and price movements in the In
dustrial and miscellaneous issues followed
the same uncertain course pursued by the
railway list. Consolidated Gas was again
notably weak.
The London stock market was generally
heavy. noteworthy pressure showing in
Consols but operations here for foreign
account. for the first time In more than
q week showed q small excess of pur-
chases
The market was weak late in the
forenoon under continued bear pressure
and liquidation, due to the forecast for
warmer weather and apprehensions OF
weakness in southern spot markets
Prices at midday showed a net loss of
22a25 points
Spot quiet; middling uplands, l1.s5:
m!ddling gulf. 1210-
Estimated receipts at the ports today
10000 bales, against 53.4s7 last week
and $1,000 last year. For the week
10000 bales. against 239.771 last week
and 3Go.9I7 last year. Today's receipts
at New Orleans, IL 1913 bales, against
1888 last year. and at Houston IL O47
bales. against 40. 397 last year