Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-11-05
MARKED STRENGTH SHOWN
Standards as Well as the Specialties
on the Move.
RAILWAYS LED MOVEMENTS
Union Pacific Takes Notable Place
in Leadership-Some Sharp Ad-
vances-Profit-T Taking Sales.


NEW YORK. November 5.-Price move
ments in the stock market constituted the
chief items Of interest furnished for Wal
street consideration today. So far al
news of marketwise bearing was con.
cerned. there have been few recent days
more devoid OF this particular kind of in
teIiigence.
The London stock market was more OF
less irregular, with lower prices for Amer
leans. but securities over there were ap'
parently not affected by the nearer ap'
proach of the critical stages of the bulge,
controversy. and political factors were ap'
parently offset by talk In London to the
effect that money was tending lower. Sug.
gestions Of this kind counterbalanced in
timations from the other side that next
week was likely to witness advances to
per cent in the official discount rates In
Berlin and then in London.
II is. Of course. possible that the Bank
OF England may see its duty in pei
cent. but considering the way in which
the per cent rate has already depressed
British trade. which had not been toe
good, it is probable that the bank will
resort TO other measures before making
a further advance.
Apart from information relating to the
money market or opinion there anent
Wall street had to get along as best il
could during the stock exchange session
without other information than that
which it could deduce from the transac
tons in the stock market. Locally the
prevailing rates OF interest, per cent OF
under for call loans. and deadlOcked di
versity or quotations in the time money
market. rather negatived the conclusions
which were drawn from the apparent cash
losses of the banks this week.
Opens Irregular.
Apropos of the banking conditions. II
may be said that the high prices for cot.
ton have caused such a forward move.
ment of the crop that a return of money
from the south is looked for this season
at q very much earlier date than usual
The foreign exchange market tended to-
ward a lower level.
The stock market opened at irregular
price changes and continued more or less
irregular throughout the greater part of
the session. There was no marked heavi-
ness. however. and. on the contrary, the
underlying tone was not only one OF
strength. but marked strength was shown
by standard stocks as well as by special
ties
The forenoon trading was fairly active
but business slsckened toward midday
and the pace in the early afternoon was
moderate.
Regarded as a whole. the market tend
ed toward greater strength in the rail-
road than in the Industrial quarter.
rather q reversal Of the form recently
displayed. Moreover. perhaps the most
significant feature Of the dealings was
the indication Of a reassumed division OF
leadership between Union Pacific, South
ern Pacific, Reading and United States
Steel. This Is a leadership to which the
market IL apt to make a more cordial re-
Spouse than to the primacy Of the cop
per metal group or Industrial and rail-
road specialties.
Aggressively Strong.
At all events, both Of the Union Pacific
stocks were aggressively strong. the
movement Of the preferred being worthy
of special notice. Southern Pacific NOV
ed in unison, and Reading displayed the
resilieney which usually characterizes II
when II II at all active.
New York Central tended to recover
for the account Of traders. who though,
that an issue Of new stock with rights
had been discounted. United States Stee
withstood proft-taking sales very we'll
but apart from this stock the most con-
spicuous strength in the industrial list
was confined TO American Cotton Oil
Pittsburg Coal, WESTINGHOUSE Electric
and International Harvester.
Among the stocks which sold ex-divi.
dend-Atchison. Pennsylvania and United
States Steel preferred-Atchison was the
strongest. All the Colorado Southern
stocks scored sharp advances. Missouri
Pacific and st. Paul displayed substan-
tisl strength