Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-10-05
Dealings on a Large Scale
in Today's Transactions.
DISTRIBUTION OF INTEREST
Balkan News Led to Heavy Selling
on Foreign Account.
DECLINES AT THE OPENING
Later Recoveries Advanced the
Actives Well Above Saturdays
Closing-Money Market Easy.
DISTRIBUTION OF INTEREST
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK October 5.-There were
violent and divergent movements in prices
In tod,.ys stock market. but the dealings
as a whole demonstrated that the forces
upon the constructive side of the account
which were brought into action toward
the close of last week. were still effective
Or account of this mornings intelli-
gence with regard to the disturbed po-
litcal situation in the Balkan states, all
European markets We're shown In the
early cabled advices to be in a state OF
semi lizaton. All government Sc
curities abroad declined extensively and
rallied very little with the course of the
day In the London stock market Amer
ical shares participated in the general
weakness. and showed declines which in
some instances were in excess of two
points.
The effect of these various circum-
stances in the local dealings was naturally
accentuated by the fact that they were
followed up by selling here for foreign
account to the extent of some 10000 to
600 shares. In consequence the local
stock market opened at declines which
measured up fairly we'll to those shown
in the American department of the Lon
don market. but in many cases the initial
during the business session.
Before the close of the first hour of
business a number of securities recovered
the full extent of their opening losses,
and subsequently all the active shares ad-
vanced well above the closing figures of
Saturday. The dealings were again con-
Quoted upon a very large scale and con-
tinued to exhibit general distribution of
speculative interest
Exceptional Strength.
Throughout the early period of unsettle-
ment. few stocks had shown an excep-
tional degree of strength. noteworthy
cases in point being Northern Pacific and
Great Northern preferred. and these
issues were the leaders in the very rapid
advance which succeeded the opening
break in prices.
The annual meeting OF the shareholders
of the Northern Pacific Company Will be
held tomorrow, and the pronounced
strength of the stock was commonly taken
to indicate that some announcement
would then be made with respect OF the
long rumOred plans of the management,
dend- AS might be expected. however no
official confirmation of these ideas could
be obtained.
Other very sharp recoveries from the
mornings low level took place in Erie,
Rock Island preferred. ST. Paul, Reading
and Union and Southern Pacific The
traction shares were firm. although rela-
lively dull, and the transactions in the in
dustrial and miscellaneous stocks were,
generally speaking, in line with those
noted in the railway list. Transactions in
that department were largest in United
States Steel common. Amalgamated Cop
per. National Lead and American Smelt-
ing.
Rally After the Opening.
The rally in prices after the opening
was In a measure due to the receipt of
European advices which tended to put the
possibilities of some peaceful settlement
of the Balkan situation in a more reas-
suring light. 1t goes without saying,
however. that Wall streets actual infor-
nation with regard to a matter Of this
description must of necessity remain
nebulous and shifting for some time to
come.
The commodity and foreign exchange
markets gave very little reflection of the
disQuietude which affected the European
stock markets and indirectly that Of New
York. For the time being interest In or
at any rate discussion of the domestic
political situation was overShadOwed by
the concern felt with regard to the out
turn of affairs In eastern Europe There
did not appear. however. to be any par
ticularly striking developments in the
presidential campaign over Sunday.
The money market remained extremely
easy