Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-09-26
Rather Marked Weakness in the
Market Today.
AN IRREGULAR OPENING
Many Stocks Showed Declines of Two
Points and More.
CONsOL. GAS. SUFFERED BIG LOSS
Lowest Figures Scored in Number
OF years-Severe Setback for In
dustriais-S,eel Heavy.
CONsOL. GAS. SUFFERED BIG LOSS

Special Dispatch to The Star.
NEW YORK, September 25.-No very con-
virriuc explanations were preferred in con-
uectiog with the rather marked weakness
of tojdy's stock market even In the gossip
which was purveyed from the floor of the
stock exchange. Yesterdays decline had at
last a superficial explanation in the crop
scare caused by frost in the corn belt. but
while the temperature remained low today
the grain market was almost stationary.
and there was little further discussion OF
that phase of the situation.
At the opening of bus ness the stock mar
ket extremely dull and irregular. BY
the middle of the business session, however.
a large number OF stocks showed declines,
which IN several cases were IN excess of
two points. 1t was possibly true that the
special weakness In such stocks as st.
Paul, Union Pacific and Consolidated Gas
had a good deal to do with the declines in
other directions.
Consolidated Gas suffered a noteworthy
loss, falling. in fact. To the lowest figures
scored in number OF years. but even in
that instance there was little to be ad-
duCed in connection with the tendencies
displayed. There were other severe de-
ciiucs IN the Industrial and miscellaneous
issues. notably in the Alis-Chalmers shares.
The United States Steel stocks were also
heavy. Copper stocks were firm in the
London market, in sympathy with the quo
taipUS for the metal
but In the local dealings AmaIgamated Cop
per moved in line with the remainder of
the market American Smelling showed a
certain IN assure of support.
Local Traction Dull.
The local traction shares were dull. but
We're not particularly heavy. 1t was COM
monty assumed that action upon the divi-
Nat- }af
DO allowed to go by default.
The London stock market vas likewise
dull and heavy, there being pparently
SOM disappointment there with regard to
the weekly statement OF the Bank of Eng
land Operations here for foreign account
were not upon sufficiently large scale as
u amount to an influence in the course of
prices.
Money markc; conditions showed little
alteration bu: on the other hand rates for
sterling exchange broke sharply on liberal
offerings of cotton and grain bills. AS
was the case yesterday, the prospective
Offering of stock by the New Haven rail-
road AZ price far below Its present mar
ket quotations was referred to as one of
the Unsettling Influences in the dealings at
larg". There was some little discussion with
regard to the likelihood of more active
money market conditions after the turn OF
tie month.
The banks have lost thus far this week
in their transactions with the subtreasury
nearly s. 10000, but on account O. the
well regulated money market relief meas
urss ordered by the Secretary of the Treas
Ury. II Is doubtful whether Saturdays bank
statement Will reflect any such correspond
ing elimination in the banks cash re-
sources. There was nothing of particular
interest 10 be deduCeri from the transac-
tons in Tie railway list.
The most extensive maximum declines in
that quarter were in St Paul, Northern
Pacific, Great Northern preferred, Union
Facirs and Reading. and the transactions
were the largest III the stocks mentioned.