Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-10-02
Marked Improvement in Price
Movements Today.
ADVANCING TENDENCIES
Considerable Increase in Volume of
Business.
IT Is LARGELY PROFESSIONAL
Markets Course Due Mainly to
Manipulative Processes-Unisn
Pacific Active Feature.
Special Dispatch to The Star.

NEW YORK. October 2.-Without any
apparent changes in the situation at
large relating to the current stock mar
ket, the latter showed today improving
tendencies upon more pronounced
scale than had perhaps been commonly
expected. There was considerable in
crease in the volume of business and a
wider diversification in specula tive in
terest than has been witnessed for
some time.
During the greater part of the bust
ness session prices also showed ad-
Vanctng tendencies. which in some in
stances were quite pronounced. At the
same time the trading continued of a
highly professional character. and it is
probable that the course Of the market
was in great measure due to a re-
vival of the manipulative processes.
which have been practically suspended
throughout the week
American shares were heavy in the
London stock market in common with the
other departments there. and foreign
houses were sellers in the local dealings
to the extent of about 5000 shares
Little or no attention appeared to be
accorded to the outlook for a considerable
reduction in surplus reserves I'm tomor-
rows bank statement. although the banks
have lost to the subtreasury alone since
last Friday nearly $5OOO,OOO. Notwith-
standing that disadvantage, the money
market was somewhat easier. doubtless
because of the conclusion of the October
disbursements.
August Railway Earnings.
Additional reports of railway earnings
for the month Of August furnished the
only important news relating to Individual
securities Tado lows
statements of the Union and Southern Pa
cif1c companies. The first named showed
only a nominal decrease in gross earn
ings and very large gain in net earn
1ngs by reason of the heavy curtailment
In operating expenses. Union Pacific was
In consequence one of the strongest and
most active features of the railway list.
Other prominent stocks in that depart
ment were Reading, Southern Pacific the
Hill shares and Rock Island preferred.
The last named responded further to the
authoritative, although unofficial. an
affairs of the St. Louis and San Francis
Co property.
The most extensive movements in prices
were, however. scored in the miscellane-
GUS and Industrial shares. International
Paper. preferred rallied sharply, and ex-
tensive gains were recorded In American
Can preferred, International Pump. Ma
tional Lead and Virginia. Carolina Chemi-
cal.
Local fractions Aroused.
Practically for the first time during the
current week the local traction issues
were fairly prominent in the dealings.
and both BrooklyA Rapid Transit and
Interborough Metropolitan preferred
were decidedly strong.
The preliminary estimates Of the
principal movements in currency dur
ing the week, including the already
mentioned loss to the subtreasury, in
dictated a total loss in cash by the
banks of something over $7.OOO.OOO.
The commodity markets we're gener-
ally heavy, but the course of prices in
that direction has ceased to be much of
q factor in the dealings in securities.