Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-11-01
ACTIVE AND STRONG
Some Quarters of Market
Quite Buoyant Today.
RELOCATE u. S. STEEL COM.
Railway Equipments Feature the
Industrials.
CoNs0L. GAS IN VIGOROUS RISE
Fries Issues. c. & O., Rock Island
Stocks, d. & R. and Missouri
Pacific Led.
RELOCATE U. S. STEEL com,
CoNsoL. GAS IN VIGOROUS RISE
Special Dispatch To Tho Stsr.

Special Dispatch to Tho Stsr.
NEW YORK. November 1.-Breadth, a
fair degree OF activity and strength which
at times. and especially in some quarters,
approached buoyancy, characterized to-
days stock market for the greater part
~ the session. The exhibition which the
market gave was all the more Interesting
because of the fact that tomorrow will
be stock exchange holiday and because
the London Stock Exchange was closed
today.
further interesting feature of the
dealings was the relative relegation Of
United States Steel common to posi-
ton Of obscurity. This stock was extern
siveIy traded in. of course, but the trans
actions in 1t during most OF the day ag-
Rregated less than one-eighth Of the total
busIness instead OF constituting a quar-
ter. a third or 20 per- cent Of the market.
as has been the case lately.
Although the autographed stocks were
generally firm. the most important
railroad and Industrial issues quoted be-
low par. An exception in tho railroad list
was Atchison. which advanced aggres-
sively. hut the most active and at the
were the Erie issues. Chesapeake and
Ohio, the Rock Island stocks. Denver ana
Rio Grande and Missouri Pacific.
fractions Await Election.
The local fractions during the greater
part Of the day appeared to be marking
time as though their future course were
somewhat dependent on the outcome OF
tomorrow's mayoralty election. Consoli-
dated Gas. on the contrary not by any
means a low-priced stock. rose even more
vigorously than il did toward the end Of
last week, when it started to recover
from its recent sharp depression.
No information is obtainable about the
various plans which are rumored to ac-
count for the level of Consolidated Gas,
but to the Wall street mind that level is
in itself to some extent conf1rmatory of
rumor. BY far the strongest group OF
industrials was the railroad equipment
issues. The copper metal and kindred
stocks were firm. but less conspicuous
than last week.
Substantial strength was shown by all
OF the steel issues, major and minor and
Colorado Fuel scored a particularly sharp
advance. Extensive gains were recorded
by numerous specfalties, including L. s.
Rubber, Pacific Mail, the Pfttsburg Coal
issues, Distillers' Securities and Cast Iron
Pipe.
- Interest Rates a Factor.
The days price movements seemed to
be largely a response to the strength of
fundamental conditions and TO confident
expectations that the money market
would not interfere seriously with an ac-
tive speculation in stocks. How much
activity on the side OF rising prices could
be endured by the money market without
another furry is somewhat conjectural
Albeit. interest rates are probably more
significant in this regard than the bank
figures reported here and abroad. Money
on call ruled at per cent and under,
while the time-loan market was stagnant
With bids limited 10 Al per cent.
Stock marketwise the days news was
largely confined in items bearing on gen.
eral conditions. The copper export fig
urss for October showed an increase OF
1.Ss9 tons over the October exports a
year ago. Reports were current in Wall
street of huge sale of capper which
We're. however, secuted in trade quar-
tiers.
Statements of railroad earnings made
up the bulk OF the news budget OF partic-
ular Wall street interest. These included,
among others. the September earnings of
the Pennsylvania system, showing for all
lines an increase of about &5.OOOOOO in
gross and S1.9O0!OOO increase in net Some
good exhibits were made by railroads in
Southern railways gross earnings in
creased $i32.O0: Atlantic Coast Line.
S2I1.OuO and Missouri Kansas and Texas
$4,000.
The declaration of the regular semi
annual dividend by the Pennsylvania rail-
road directors was in line with inteIli-
gent expectation, for no increase haf
been looked for at this time in well ~
formed circles.