Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-11
Extremely Severe Losses
Marked Dealings Today.
LIQUIDATION VERY HEAVY
Industrials and Miscellaneous Issues
Main Losers.
SUPPORT ENTIRELY MISSING
Drop of Three Points in Some Of
the Railways-London Was
Heavy-Money Easy.
SUPPORT ENTIRELY MISSING

Special Dispatch 10 The Star
NEW YORK, DC. ober IA large num-
Der Of extremely severe losses resulted
from the dealings In today's stock mar
ket. and the liquidation was more general
than It has been Mt any time this week
Most of the more severe declines took
place among the industrial and miscel-
laneous issues but losses In excess Of
three points were by no means uncommon
In the railway list
In spite of the very striking results OF
the days transactions there was. as q
matter of fact. little or nothing to be de-
duced in the way of novelty In connec-
zion with the course of the market at
large or particular stocks. The trading
presented the same general characteristics
which have been manifested during the
larger part of the week.
Support was almost entirely missing
from the market except, when. satisfied
Wit hhi5 profits. some bearishly disposed
operator elected to convert them into
cash. Doubtless. also the plain evil
dences OF renewed liquidation induced
fresh opera lions for the short account,
but it would be nothing less than alb
surd to asoribe the general drift of the
market to operations of that character.
On the break In prices a great many
stocks reached the lowest levels of the
year and others the lowest on record.
Liquidation Impartially Distributed
As noted above. liquidation was
more impartially distributed than it
has been previously. There were. in fact,
no exceptions whatever Of any appar-
ent Significance TO the general course
of the market. IN the railway list there
We're losses of two points and over in
Rock Island preferred. Great Northern
preferred and Northern Pacific. Cana
1T a.
Rio Grande preferred. Kansas City
Southern preferred, 500 common and
Missouri Pacific.
The last named was exceptionally weak,
suffering abrupt decline Of more than
four points. Losses corresponding to those
noted In the railway list occurred in Con-
solidated Gas. American Smelling. Anal
gamated Copper. General Electric. Sugar
Refining, Dstiliers' Securities and Ma
tional Lead.
Few persons attempted to assign other
than technical rea sons for the course of
these stocks. A further reduction in cop
per metal was, of course, associated with
the decline in Amalgamated Copper. the
more the dividend on the stock will
be acted upon next Thursday.
The Decline in Consolidated Gas.
In an indefinite fashion the extensive
decline in Consolidated Gas was asso-
ciated with the activities of the public
service commission.
The United States Steel stocks were de-
cidedly weak, although the declines in
those cases were naturally more limited
than those in other directions. The local
traction shares did not escape the ten
denotes prevailing elsewhere in the mar
ket
The London stock market was heavy
with the depression in the American de
partment. attributed naturally enough to
the unsettlement upon the New York
stock exchange this week Foreign houses
we're quite active in the local market and
were sellers on balance to the extent of
about 1000 shares.
Money market conditions We're easy,
while the rates for foreign exchange rose
further without exciting much t-epidaton
TO the likelihood of early exports OF
gold The preliminary estimates of the
principal movements IN currency during
the week indicated gain in cash by the
banks of about $4,000. They gained
nearly s1.6OWO in their operations with
the subtreasury. but lost on balance on
the interior movement In currency about
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