Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-10
Highly Irregular Movements
Marked Transactions.
CHIEFLY IN ACTIVE LIST
Market Almost Wholly Wanting in
Support.
FOREIGN HOUSES STILL SELL
London Depressed in All Depart
ments-Sharp Rise in Grain
Market.
CHIEFLY IN ACTIVE LIST
FOREIGN HOUSES STILL SELL


NEW YORK, October IO-In today's
stock market highly irregular movements
IN prices succeeded to yesterdays fairly
continuous decline. This irregularity was.
however. expressed chiefly in the more
active shares and those, in fact. in which
the short account has been the most ex-
tended. Indeed. a large number Of the
comparatively inactive issues. and es-
pecially IN the industrial department. suf
fered further extensive declines. Broadly
speaking. interest and discussion were
taken up with the same set OF topics
which aged attention yesterday Tech
nically considered. however. the market
showed some betterment In conditions.
Actual liquidation was by no means so
general and heavy as 1t was yesterday.
and thc floor traders were quick to de-
tect the change in this respect and has
tened ia reduce their commitments on the
short side. 1t was almost wholly due to
buying of this description that the more
active stocks made advances previous
to midday from their low point of de-
PRECISION. which extended IN some cases
TO more than one point.
Aside from the covering of short con-
tracts. the market was again almost
wholly wanting in support either in that
represented by commission house buying
or that of a concerted character. For
on reduced and mere concentrated
scale than of late.
Adv!ces respecting the actual situation
at Amsterdam were again conflicting
the most trustworthy being to the effect
that while thetroubles were serious they
had doubtless been exaggerated in local
discussion.
Continental Centers Sellers.
AT the same time Paris and other con-
tine toll fiy,gr 4
ers In the London stock ma ket which
was depressed in all departments, with a
rather noteworthy reaction in consols.
The Bank of England's weekly state
ment showed proportion of reserves to
liabilities of 1870 per cent. against 1880
per cent last week. and 355t per cent In
the corresponding week of last year. The
bank rate of discount was left I'M
changed at Az per cent Local money
market circumstances showed little al
teratioH, nor did those in the foreign
exchange market.
This mornings misleading reports with
regard To change In the attitude of the
Bank of France in the matter of secur-
ing foreign gold had little effect on the
dealings in securities It was stated in
authoritative quarters that the Bank of
France has all the time been entirely
willing to allow for interest on gold in
transit fiom New York to Paris
very sharp rise IN the grain market
was one feature of the days situation.
but the movement there was almost
wholly in response to the corresponding
one in the foreign grain markets and
OF course had no relation to domestic
crop conditions.
A Wise Distribution of Interest.
Transactions In today's stock market
again attained fairly large total and
rejected wide distribution of interest.
AS noted above. the more active rail-
way stocks fiuctuated with exceeding ir-
regularity. On the other hand such stocks
as louisville and Nashville. Atlantic
Coast Line, the 500 shares and some other
relatively inactive issues were weak
throughout. New York Central and
Reading also reflected rather pronounced
pressure.
In the industrial and miscellaneous de-
partment some of +he maximum declines
scored reached very striking proportions
rms was true OF Genera Electric. Dis
tilers securities, American Locomotive
United States Rubber, Virginia Coal,
Coke and Iron. Western Union and the
railway equipment stocks
AS has been the case previously little
beyond discussion of the extent of the re-
acton IN trade accompanied the move
ments in the stocks in question The
United ates Steel shares, and notably
the preferred stock, were likewise decided
ly heavy The traction shares were com
paratively dull.