Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-10-12
Stock Market Strong on Bal.
kan Peace News.
FOLLOWS LEAD OF LONDON
Sharp Advances Scored Among the
Railway Specialties
LOCAL ISSUES ARE NEGLECTED
Trading for the Most Part Among
the Lower-Priced and Less
Active Securities.

NEW YORK, October 12.-It is not in
frequently the case that even In STOCK
markets possessing the general propor'
lions Of that Of today the reasons fol
the tendencies shown are so obvious that
extended comment becomes unnecessary
To go into detailed explanations OF the
cause of today's general strength and
animation would be to write review
of the various developments in the field
Of foreign and domestic politics over
Sunday.
All the European stock markets this
morning showed in their tone the spread
Of the belief that there would be no
actual outbreak Of hostilities as the re-
suit of the Balkan situation, although
1t is necessary to add that even this
mornings advices and those which came
TO hand with the course of the day were
more or less conflicting.
Local spectators were. however, quite
willing to accept the tendencies prevail
ing upon the London aand continental
stock exchanges as attesting to the strong
likelihood that the tangled political situa-
ton in southeastern Europe WOULD be pa
officially settled.
Americans Strong in London.
American shares were exceptionally
strong in the London market today, just
as they were exceptionally weak when
the so-caIled war scare was at its height.
Foreign houses were buyers Of a fairly
large amount of stocks In the local mar
ket, and their purchases would have been
upon a greater scale except for the rapid
ity of the early advance ia prices.
Considering the extent and the rapidity
of the early rise in prices the market at
large retained the advantages then scored
face Of things it did not appear that any
very notable developments have occurred
in the progress Of the presidential cam
paign over Sunday, but feelings Of con-
fidence with regard to the issue of the
election were very we'll defined. Coupled
with the preceding considerations 1t
should be said that manipulative pro-
cesses were more plainly in evidence than
has been the case for more than q week
past.
Tone Generally Strong.
The tone OF the stock market was. how
ever. commonly strong. and those securi-
ties which have been the leading fea-
lures of the dealings for 50 long lost
none of their prominence on account OF
the diversion of interest to q number OF
the so-called specialties in the railway list
and elsewhere. Such stocks as st. Paul.
Canadian Pacific. the Hill stocks. Union
advances ranging from one to more than
three points.
Among the lower-priced and less active
stocks there were sharp gains made by
Colorado Southern. Wisconsin Central,
Toledo. st. Louis and Western and Chi
cago and Alton. common and preferred.
Few people attempted to assign any def1-
mite reasons for the movements In these
issues other than those of a personal and
technical character
The local traction issues played a COM
paratively small part in the days deal
ings. and the industrial and miscellaneous
shares. while commonly firm. did not show
a degree of animation corresponding to
that exhibited by the railway share list.
The bond market was strong. with sub
stantial gains In the Rock Island and
Interboro- Metropolitan issues
The money market was extremely easy.
and sterling exchange suffered further
decline. which was accepted as one OF
the best indications of a peaceful solu-
ton to the European political situation.