Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-10-19
Marked Diminution in Activity
Compared With Friday.
N. P. MOST CONSPICUOUS
Initial Rise in Prices Reflection of
Firmer Tone Abroad.
DULLNESS IN INDUSTRIALS
Sentiment Regarding the Political
Campaign Appears for Some
Reason to Be More Confident.
DULLNESS IN INDUSTRIALS
Special DISPATCH to The Star.

Special Dispatch to The Star
NEW YORK, October 19.-There was a
marked diminution in activity In today
stock market in comparison with Friday
scale Of activity, and after very firm
opening the dealings developed irregular
and reactiOnary tendencies. In the early
trading advances ranging from one to two
points were fairly common in the more
active stocks. but before the noon hour
these gains had been either greatly re-
duced or wholly oblterated The initial
rise in prices was mainly reflection OF
the firmer tone of the European stock
market where Saturdays uneasiness re-
garding the outcome of the Balkan situa-
ton appeared to have been in great
measure dissipated.
American stocks In common with the
other departments OF the London market
were firm. and foreign houses were buy
ers here to the extent of about 10000
shares.
Northern Pacific Conspicuous.
The early animation in the stock mar
ket was not long retained and during
the subsequent part of the business ses-
sion price movements were of the de-
scription usually defined as backing and
NOItutIu racine was perhaps Tic
most conspicuous feature of the day S
transactions. and the strength of that
stock. which was not participated in to
a noteworthy extent by Great Northern
preferred. was attributed to a revival of
the rumors which have been current for
SO long a time that it would be in the
receipt of an extra dividend before the
close of the current year. Aside from
Northern Pacific there was scarcely any
actual news or even gossip except OF
technical character accompanying the
movements in particular stocks.
The same railway and Industrial shares
which have for weeks furnished the bulk
of the transactions upon the stock ex-
change were similarly prominent today.
and for no more direct reasons than pre-
viously. An early sharp advance In
Westinghouse Electric was soon lost, and
an upward movement in Tennessee Cop
per attracted attention among the linn
tied number interested in that issue.
The United States Steel shares were
comparatively firm, but the usually &C
tive industrial and miscellaneous shares
fiuctuated irregularly and within narrow
limits. Third Avenue railroad stock was
exceptionally weak, and otherwise the
traction group remained very dull.
Small alterations appeared either In
money market or foreign exchange cir
cumstances. The former was If any
thing. easier than was the case last week.
particularly for the rates quoted for call
loans. The banks have already gained
more than 81 100000 in their transactions
with the subtreasury since last Friday.
Confident Political Sentiment.
Sentiment with regard to the domestic
political campaign appeared, for some
reason. to be a good deal more confident
than was the case list week. In spite Of
the absence of any striking development
in that direction in the meantime. This
probably might be named as another in
f1uence in such degree Of stability as the
DAYS stock market Displayed.