Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-11-17
Reversal in Drift of Operations
for Foreign Account.
SOME HEAVY BUYING TODAY
Union and Southern Pacific Leading
Features.
PRICE MOVEMENTS IRREGULAR
Railway List Showed Better Sus-
tanned Degree of Strength Than
Other Departments.
SOME HEAVY BUYING TODAY
PRICE MOVEMENTS IRREGULAR
Snetial DiSpatch TO The Star.

Special Dispatch TO The Star.
NEW YORK. November IA factor of
great influence in today's stock market
and particularly in the transactions dur
ing the fore moon was the complete rever-
sal in the drift Of the operations here
for foreign account. In fact. during the
morning foreign houses were buye-s in
the local dealings of an amount of stock
almost equaling their sales of yesterday
although their purchases were confined
largely to Union and Southern Pacific
Those two stocks were leading features
of the market in respect of strength and
activity. and renewed reports We're cur
rent of an early announcement of the de-
tails Of the plan for the retirement of the
preferred shares of the Southern Pacific
Company.
There was a considerable increase in the
Volume of business in the days market
IN comparison with yesterdays aggregate
but price movements were again char
acterized by no little irregularity. AS
was the case yesterday. the railway share
list showed a better sustained degree of
strength than was evident in other de-
partmentS of the market, and. In fact.
with some exceptions the industrial and
miscellaneous issues were comparatively
heavy.
For these divergent moments there was
)ittle to be ELECTED in the way of COM
'ment or gossip or actual fact. In the
miscellaneous group extensive gains were
shown at one time or another during the
day in New York Air Brake. the Allis-
Chalmers shares. Consolidated Gas. Gen.
eral Electric, Ice Securities and Pacific
Mail
The usually active stocks in this de-
partment showed. on the other hand hest
tating and somewhat reactionary tenden-
cies. this description applying to such
stocks the Unitd States Steel shares
National Lead. American Smelling and
Amalgamated Copper
New High Records.
None OF these securities was actually
weak and their tende ncies appeared to re-
fleet. nothing beyond a temporary ex-
cess of profit-making sales over new
purchases of one character or another
The local traction shares like wise moved
irregularly and were less prominent in
the dealings than they have been for some
days. A number of new high records on
the current recovery were scored in the
railway list.
AS already mentioned, Union Pacific and
Southern Pacific were conspicuous fea-
lures there Others were Baltimore and
OHIO, New York Central, the Rock Island
and affiliated stocks, Reading. Louisville
= Among the specialties New York Chi
cago and ST Louis. c. c. G. and ST. Louis,
Chicago and Great Western and Wheeling
and Lake Erie scored noteworthy ad-
Yances.
The general London stock market had
been heavy In the early part-of the day,
but before the opening of the New York
market general rise took place there
and the improvement was maintained
throughout the business session.
Rally in London Market.
The rally in the London market was
commonly aseribed to more cheerful or at
any rate less pessimist.c views as to the
outcome of political affairs In various di-
rections than were entertained yesterday.
Money market and foreign exchange
circumstances were maintained upon an
even keel.
The commodity markets were generally
steady.
Rumors of various descriptions none Of
them possessing even the desirable ele-
ment of novelty. accompanied the trans
actions in the more active shares, but
the facts relating to those issues were
nmted TO prosaic and technical circum-
stances.