Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-01
Today's Conditions Fully as IT.
regular as Yesterday.
THE PROFESSIONAL STUNT
Bid Up Prices in Early Part of the
Day.
SETBACK IN PRICES LATER
Slight Relaxation of Money Market
Tendencies-London Irregular.
Dividend Talks-Features.
;ETBACK IN PRICES LATER

Special Disra-rh to The Star
NEW YORK October 1.-Todays stock
market WAS fully irregular and showed
as uncertain tendencies as was the case
yestrrday although its frequent reversals
Of form occurred at different periods during
the day. II seemed TO have been commonly
pxpectrd that yesterdays rather sensa-
tional demonstration against the short In
terest in Canadian Pacific would have led
to an active covering of short contracts IN
other q rections.
Proceeding on this theory the professional
traders bid up prices In the early part Of
the day to the extent of one to two points
In nearly all the active shares. Canadian
Pacific itself fuctuated violently. and there
were no developments aside from mechan-
Zeal market circumstances to account for
yesterdays extraordinary movement in the
stock. ST. Paul continued exceptionally
weak. and there could be little doubt that
the course of that influential security was
factor in that of the general market.
st. Paul's Dividend Discussed.
Although the last declared dividend on St.
Paul will not be due for payment until
Thursday OF this week. and at the usual
rate. discussion Is already under way with
regard 10 the likelihood that the next d,vi-
dend which will not be acted upon until
the latter part of February or there
RbotItS will be declared at a reduced
figure. This seems to be taking time by
the forelock, and ii would indicate that
Wall street is not satisfied with the album
dant troubles of the present.
Another explanation of rather sharp set
back in prices soon after midday was found
In the publication of the second speech of
the President of the United States on his
current trip throughout the west Just why
this latest enunciation of homiletic policies
should have proven SO disturbing was
the casa IL would not be easy to say. eX-
cept. perhaps, because OF the constant dis
appointment of the expectations that with
the course of time Mr.. Roosevelt would be
able to strike some different note and
break up the monotone Of his discourses.
Money Market Conditions.
Money market circumstances showed
some little relaxation from yesterday 5
tendencies. The banks have however lost
to the su>treasury since last Friday nearly
three M Hon dollars although the effect OF
this in the weekly bank statement VIII
doubtless ba mtigated TO some extent by
the treasury money market RELIEF measures
The London stock market was irregular.
showing Il strong tone at the opening. later
reacting and finally rallying aga;n For
eign HoUs were again sellers here on
balance. but in greatly reduced scale as
compared with yesterday. These operat ons
again cpuverged largely on the United
States Steel stocks. There was very little
news except of routine character relat-
ing to one security or another.
The Copper Dividends.
1t had been commonly expected that the
dividend OF Anaconda mining would be re-
duced and in fact. the rate was cut from
xI.7J q share to S1.Z5 share. While It
was assumed that this action portends d a
cut in tie Amalg amated Copper dividend
later in the month, thcr stock was par
ticularIy Affected by tn. noted action.
The United States Steel shares were again
heavy.
Ia the local Traction group Brooklyn
Rapid TRANSIT was notably firm.
Transactions in the railway list developed
few features of special interest aside from
the noted weakness of 81. Paul. Transac-
tons were again largest in the SAM stocks
which had been IN larly prom. neut
throughout the year.