Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-10-16
FeatureIess Day, but Heavier
Volume of Business.
NO SPECULATIVE FEELING
Dealings Comparatively Active in q.
p, Reading, N. P. and q. S. Steel.
FEW FOREIGN ACCOUNT SALES
Industrial and Miscellaneous Issues
Irregular-Local fractions
Continue Sluggish.
NO SPECULATIVE FEELING
FEW FOREIGN ACCOUNT SALES
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, October ia rather fea-
tureless days situation So far as stock
market affairs were concerned was re-
fected In a quite featureless stock mar
ket. At the same time the volume OF
business was maintained upon some
what larger scale than recent averages
OF activity, although the dealings were OF
no less a professional character than has
heen the case during the week. Neither
the foreign nor the domestic political
situation presented any aspects calculated
to influence speculative sentiment in one
direction or another. nor were there any
important changes in the other aspects OF
conditions at large relating to the stock
market.
The London stock market showed about
as insignificant movements as those noted
in the local dealings. There seemed to
be rather more uneasiness there with re-
gard to the progress of events in the
Balkans and conSols. home investment
issues and American shares Were general
ly heavy. Operations here for foreign
account were upon an unimportAnt scale.
Aside from such matters as statements
of earnings aand dividend announcements.
and these furnished no surprises. there
was no news at all relating to particular
active in Union Pacific, Reading. Northern
Pacific and United States Steel The Union
Pacific convertible per cent bonds were
very heavily dealt in and advanced to
A new high price OF record. while the
Union Pacific stock moved somewhat ir-
regularly.
The stock is still selling some or
points below the level at which it would
become profitable to exercise the CONVEX
sion privilege. a circumstance which ex-
rffaA In vfaU OF the NOTE.
worthy animation in the bonds. Firm
features Of the railway list were Penn
'eylvania. st. Paul and Hill stocks and
Reading.
Some Striking Advances.
The Industrial and miscellaneous issues
also moved irregularly. with. however.
rather striking advances being scored by
Mackey companies and Westinghouse
Electric. The copper stocks huctuated
within small limits and the United States
Steel shares were somewhat heavy. AS
might be expected. many estimates are
now in circulation with regard to the
showing to be made by the steel corpora
ton on October q, but none Of the
figures which have been advanced ap-
pear to have any authoritative sanction.
The local traction group continued slug
gish and the bond market was generally
firm and active, although large proper
tion Of the transactions were there furnish
ed by the dealings In the Union Pacific
convertible.
Preliminary estimates of the principal
movements in currency during the week
indicated only a nominal change In the
banks holdings Of cash. They have gained
from the subtreasury about $780, 900 and
lost about an equal sum on direct ship
ments to the interior. consequently II
these figures are borne out in the weekly
bank statement the change in surplus re-
serves will be determined by the altera-
ton In the loan account.
Money market and foreign exchange
conditions were practically unaltered.