Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-09-24
Substantial Recovery Prevailed
After the First Hour.
SOME FRACTIONS DECLINE
London Reported Quite General De-
preston.
VIGOROUS RISE FOR COPPER
Commodity Markets Moved Irregular
ly, Particularly for
Grain.
SOME FRACTIONS DECLINE
VIGOROUS RISE FOR COPPER

Special Dispatch to The Star.
NEW YORK. September 24.-Included
among the rather uneonriucing explanations
OF rally N prices in today's stock market
wera the more agreeable weather conditions
prevailing. the decision of the federal court
at Chicago granting immunity to the CHI
caGo and Alton In the Standard Oil rebate
cases ard the fact that the market had de-
clined yesterday. Perhaps after al the
last reason might be taken as more con-
clus We than the others.
At the opening of business and for a few
minutes afterward the market showed a
renewal of the reactlonary tendencies which
prevailed during The greater part of yes
terdays business session Except in the
Instances OF small number of stocks. in
Guiding American Smelling and Great
Northern preferred, the early declines did
not. however pass outside the fractional
limits and before the close Of the st
hour OF business a quite substantial re-
Covery was in progress
As noted above. the truest founda ton of
the rally Of the market might, perhaps be
named in The fact that it was heavy yester-
day A. the case then. the dealings
were almost entirely OF q strictly profess
sloual character. and today's purchases
might be regarded as nothing more than
supplementary to yesterdays sales
London Depression.
The London stock market was generally
depressed with the dealings in light volume
Ia advance of the opening of the fortnightly
settlement upon the stock exchange. Paris
was quite heavy seller OF the International
shares which accounted in part for the
weakness in Rio Tintos. Another explana-
ton of the course OF that security was fur
nisAed. however, in a further reduction in
the quotations for copper metal in the
London market
In the local dealings. however, Amalga-
mated Copper after suffering a fractional
decline at the outset of the dealings en-
5oyed pretty vigorous recovery. Oper-
atoms here for foreign account showed an
excess OF sales in the neghborhood of
about 10000 shares.
The commodity markets moved irreg-
ularly, particularly for grain. Corn was
strong. while wheat was weak. although
at this period of September 1t is scarcely
to he supposed that any serious Injury
can be inflicted upon the first-named sta
pie either from frost or any other viciS-
situdes
Transfers of Currency.
Money market and foreign exchange
conditions again showed little altera-
tion. although there were quite large
transfers Of currency TO the Interior, and
the banks have lost to the subtreasury
since last Friday S1.345,OO0. 1t was com
monty assumed, however. that TINS un~
favorable balance would be corrected or
regulated through the treasury opera
lions for the relief of the money market.
The current investigation of the Standard
Oh Company and the affairs of the Inter
borough Metropolitan companies continued
to engruss a large share of the days in
terest without. however. much influence
upon the dealings In securities. Dealings
I'm the newly issued city bonds reflected
more stable conditions than were evident
yesterday. Transactions in the bond de-
kHt n 1Ny
reduced volume in comparison with re-
cent averages and during the greater part
OF the day the dealings in stocks were also
upon a small scale
Apart from comment and discussion of
the character usually to be heard In a thor
oughly professional market, there was moth
Ing 10 be elected from the dealings In one
stock OF another. with the possible excep-
ton Nt AMllgam atel Cnnnnr