Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-11-20
Wide Diversity of Speculative
Interest Today.
TONE DECIDEDLY WEAK
Price Recoveries Were Fitful and
Spasmodic.
BEARS INCREASED ACTIVITY
Volume of Profit-Taking Sales in Ex-
cess of New Buying Orders.
Pacifics the Leaders.
BEARS INCREASED ACTIVITY
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, November Cot was I'M
necessary to make any reservations II
describing the tone of today's stock mar
kct. The tone was decidedly weak. anC
almost uninterruptedly OF course
upon occasions prices rallied, but the re-
coveries were f1tful and spasmodic. Trans
actions were maintained upon large
seal of activity and the dealings agar
showed wide Investigation of specu
1ative interest. At no time since election
day, however, has there been a clearer
demonstrations of the technical fact thai
for the time being. at any rate, the vol
Time of proft-taking sales was In exces:
% the new buying orders in the market
In addition there were abundant evil
dences of increased activity on the
part of operators with bearish procliv-
= tiles. According to the personal dec
Iarations of some of these individuals
they proffered no other reason for their
attitude toward the market than that
the advance in prices has already pro-
crossed sufficiently far, especially in
view of the admitted exaggeration in
the reports relating to the revival in
the country's trade.
There was nothing whatever in the
news of the morning or in the devel-
opments with the course of the bust
ness ScSSlOn winch COulQ De ClteQ as &C
counting satisfactorily for the ten
denotes of the stock market.
Americans Steady in London.
1t is the fashion now to pay consider
able attention to the course of the Eu-
ropean market, but American shares were
steady today upon the London stock ex-
change and operations here for foreign
account showed a fair excess of pur-
chases. In the early part of the day a
great number of stocks were exceptional
~ firm, but these. too, receded later in
common with the market at large. Cases
in point were Chesapeake and Ohio,
Louisville and Nashville. Reading and
Union Pacific and Consolidated Gas.
All the traction issues were decidedly
heavy. presumably because of the un-
certainty created by yesterdays judicial
announcement directing an early reorgani-
cation of the Metropolitan system.
Preliminary estimates Of the principal
movements in currency during the week
pointed to gain In cash by the banks
In excess of 5000, 600 but scant atten-
ton appeared to be accorded to the out
look for tomorrow's bank statement.
Money Market Unchanged.
Money market and foreign exchange
circumstances showed no substantial al
iteration.
beduLiS features OIL the market IN re-
spect of activity were Union and South
ern Pacific. Reading, Amalgamated Cop
per and the United States Steel shares
A factor of some weight in the dealings
was a .rumor that a San Francisco news
paper had published an alleged interview
with Mr.. E. H. Hartman, in which that
gentleman expressed his opinion to the
effect that the rise in the stock market
since. ofaptfnr dov
ranted proportions. and that a severe re-
action was in order. The impression Gre
ated by this report would only serve to
show. however, the distinctive character
of the days stock market and the pecu-
liarly FESTIVE state of speculative senti-
ment