Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-11-30
Curious Degree of Irregularity
Marked Dealings.
OPENING PRICES FIRM
Stocks Which Have Been Leading
Features Reactionary.
AMERICANS STEADY IN LONDON
Some Extensive Advances Scored by
Railways-Frequent Rallies in
Industrials.
AMERICANS STEADY IN LONDON
Special Dispatch to The Star.


NEW YORK. November 3o.-Today' S
transactions in securities exhibited note
worthy and even curious degree Of ir-
regularity. The market at large opened
firm. or correctly speaking. at higher
range of prices than prevailed at the close
of business Saturday. Except In some
individual cases. the initial tone was not
long maintained. 1t was observed. fur
thermore. that practically all OF those
stocks which have been the leading fea-
lures of the market In respect OF strength
and activity for almost indefinite time
were quite reactionary, this description
applying to such issues as Union and
Southern Pacific. Reading, Great North
ern preferred. Northern Pacific and the
United States Steel shares.
On the other hand, at one time or an
other during the business session there
were extensive advances scored In Chi
cago and Alton. the Rock Island issues,
ST Paul. New York. Ontario and Western,
Norfolk and Western. and notably CheSa-
peake and Ohio
Nobody attempted to assign any ex-
olicit reasons for the divergent move
ments in the stocks mentioned. In fact,
the course followed by the securities in
question appeared to reflect chiefly g.
shifting of manipulation into new quar-
tiers while heavy and effective liquidation
was conducted in the previously active
stocks.
Factor in Steel Course.
1t is probable that the further discus
sion of a prospective revision Of the tariff
was factor in the course of United
States Steel common. Consolidated Gas
again f1uctuated irregularly. as did Brook
lyn Union Gas. and the dealings in those
instance. as was the case on Saturday,
were plainly governed by the intimations
that an immediate decision from the Su-
preme Court in the eighty-cent gas case
was not to be reckoned upon.
The transactions in general in the in
dustrial and miscellaneous issues were in
accordance with those In the general
market. General Electric was exception
ally firm. American Telephone and Tele-
broke sharply on the announcement that
the company had sold the remaining
$50.00O.0O0 of its convertible bonds to a
syndicate at a price materially below the
quotations which have recently prevailed
for the bonds.
Amalgamated Copper, American Smelt-
ing. Peoples Gas and Western Union
were also reactionary, although in COM
mon with the general list there were fire.
quent rallies in all of these issues. In
the general market as being actually weak
Al any time in spite Of the extent Of the
maximum declines scored by many stocks
Some Recoveries.
In a number Of instances these declines
were wholly or in part recovered with
the course of the business session.
American shares were generally steady
in the London market, and foreign
houses were buyers here to the extent
OF about $4,000 shares.
There was little or nothing Of real
importance marketwise in the news over
Sunday or in the developments with the
course of the business session.
Money market circumstances were not
materially altered. although the banks
begin the week with the substantial loss
of $1,7S5, 900 to the subtreasury. Sterling
exchange continued decidedly firm. with
the question Of exports Of gold to Eu-
rope hanging delicately In the balance.