Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-11-14
Market Was Dull or Reaction.
airy All Day.
FED LARGELY ON RUMOR
Morning Declines Were Followed by
Some Recoveries.
ENGLISH BANK STATEMENT
1t Was Unexpectedly Good, While
the Foreign Market Showed Some
Improvement.
ENGLISH BANK STATEMENT
sperial Dispatch to The Star.

epeHiaI Dispatch 70 The Star.
NEW YORK November f4-ReueUed
liquidation which was evident in a large
number Of stocks furnished the monoto-
nous keynote to today's stock market
There was little or nothing In the way
Of actual news to account for the fresh
outbreak OF the selling OF this description
and accordingly there was a revival OF
rumors OF impending business casualties
both here and IN other cities.
AT the opening of business quotations
for securities varied very little from those
prevailing a the close of business yes
terday. Subsequently practically all OF
the active issues scored running declines
ranging from one to more than three
points
After midday moderate recoveries were
common in connection with the announce
nent of the usual quarterly vidends on
the Union and Southern Pacific shares
Few people possessing ordinarily good
sources Of information had any doubts
tina: the usual rates on these stocks would
not be declared on the present occasion,
bat nevertheless the rally in the market
after me noon hour appeared to he due
u she definite announcement of the fact.
The weekly statement of the Bank
Of England was an unexpectedly strong
showing. notwithstanding the with
dra.vals of gold for shipment to Amer
ica. the banks bullion holdings in
creased more than { 1000 900, and its
ratio ~ reserves advanced from 30 per
cent last week TO over 30 per cent,
The banks rate OF discount was left
unchanged. however. at per cent.
French Gold Report.
The London stock market was IT.
regular, but with the progress of the
cay showed some Improvement. which
wss based upon the excellent showing
OF the bank statement. Little was
done here for foreign account
In the early part of the day local
speculative sentiment was stimulated
~ some extent by the reports published
this morning to the effect that nego-
fmportati on of Sl5.u00,OOO to this coun-
try from the Bank of France These
rumors were later contradicted.
Another factor in such strength as
the market displayed in the early part
of the day was furnished by the In
telligence that the retirement, on a
small scale. OF the clearing house loan
certificates was already under way. a
fdlrly Stln premium was, however
maintained in the dealings in currency,
and the transactions in the latter were
again conducted in large volume.
Money call again ruled at high aver
age ngures and there was no beJterment
in the conditions prevailing in the time
money t. The banks lncreas q
their loss in their operations with the
subtreasury yesterday by nearly Sl,JUOOp
and now show an adverse balance on the
weeks operations with that institution OF
$5,s17 coo.
Apart from the HERMAN stocks there
was little or nothing of interest to be
elected in connection with the move
ments in particular Much of the liqu-
detion under way was for out-oftowT
account. and there was said to be much
selling of the United States Steel issues or
asders from Pittsburg. st. Paul was a
notably weak feature OF Tn railway list
and substantial declines were made by the
Ere shares, New York Central. Pennsy-
vania, Reading and Louisville and Nash
Vile.