Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-11-16
Local fractions Continue to
Lead Active List.
FORMER LEADERS HEAVY
Firm Tone by Midday, With Ad-
vances for Whole List.
CONSOL. GAS NOTABLY STRONG
Americans Depressed in London.
Foreign Houses Sellers Here Of
Upward of 1000 Shares.
GAS NOTABLY STRONG

Special Dispatch TO The Star.
NEW YORK. November 16-At the
opening of the week in the stock market
the dealings in general showed the same
tendencies which prevailed Saturday last.
The local traction shares and Consolidated
Gas were aggressively strong. while prac-
tically all of the stocks which had been
the conspicuous leaders in the market in
respect of strength and activity were
heavy.
The losses scored in few cases. however.
exceeded fractional limits. and before the
close of the first hour the trading assumed
a firm tone. and by midday nearly the
whole list was quoted we'll above Satur-
days final prices.
The comparative weakness of the mar
ket in the early part of the day was al
most wholly reflection of the tone of
the London market. American shares
were depressed there, in common with all
the other departments, and with the
course Of the morning. foreign houses
were sellers here of upward of 10000
shares. Much of this selling, 1t was said,
originated at Berlin. and in great degree
the weakness of the London market was
accounted for by the uneasiness prevail
ing there WIN regard 10 the pOiitiSdl
situation in Europe and in the far east.
Underlying Strength Of Market.
That the local market should have with
stood so well the brunt of selling for for
eign account, as large as that mentioned.
attests strongly to it's underlying strength
and the we'll maintained demand for Sc
curities.
The local dealings included both renewed
profit-realiZing sales and the continuing
investment and speculative demand Which
was apparently in excess OF both the local
and foreign liquidation.
During the greater part OF the business
session the volume of business ranged be-
low recent averages of activity. but there
versihcation Of interest and an exception
ally large number Of individual stocks
were dealt In.
Highest Prices for fractions.
As mentioned above. the local traction
shares were decidedly conspicuous and
rose to the highest prices at which they
have been quoted for many weeks. 1t
was impossible, however. to elicit any
definite and common explanation of the
advance In these issues and even the more
or less f1imsy reasons which were
profYefed last week were not repeated.
Consolidated Gas was also notably
strong presumably on the belief that the
Supreme Court at Washington would soon
arrive at and render a decision In the
SO-cent-gas case.
At the outset Of the market the United
States Steel shares were heavy. In COM
mon with all the other active stocks, but
they later rallied very easily. Strong
features In this quarter were Central
Leather, National Lead. American
Smelling. American Cotton Oil and Anal
gamated Copper.
Some Railway Movements.
The early and the subsequent changes
in the railway share list impaired a very
irregular appearance to the transactions
in that department. The most conspicuous
movements were in Baltimore & Ohio and
Illinois Central although. of course,
greater volume of business was trans
acted in Reading and Union Pacific.
Among the railway specialties mark
ed strength was exhibited by New York.
Chicago and ST. Louis, Wheeling and
Lake Erie, st. Louis and San Francisco
second preferred and Chicago Great
Western.
Dealings in the bond market were
maintained upon a fairly large scale OF
activity. Apart from the foreign politi-
cal considerations referred to there was
little in the news over Sunday or in the
developments Of the business session of
much moment. The advices wish regard
try's trade continued reassuring. Money
market and foreign exchanges showed
small alteration.