The Washington herald., 1910-11-12
WALL STREET NEWS
Movement in Market Proves
TO Be Highly Irregular.
FINAL RALLY TAKES PLACE
Closing Quotations About Equally
Divided between Advances and
Deeiines-WeaIkne of New York
Central Contributes 10 Afternoon
Break-EngIish Market Depressed.

New York, Nov. 1.-THE two most
notable characteristics OF the stock mar
ket to-day were the large falling Off in
the quantity OF transactions and the lack
Of reslliency Ia prices. AS against yes
terday's dealings OF over 10000 shares.
to-day less than 10000 shares were bought
and sold.
The movement OF the market was high
~ irregular Quotations were at first
higher. then fell again. rose a little. and
then became very dull. and In the after
noon developed decided weakness. carry
ing the great number OF stocks pretty
nearly 10 yesterdays low level.
From this a final rally occurred. which,
however, was generally spoken OF as
lacking snap. and closing quotations were
about equally divided between advances
and declines. The advance IN the fore
part OF the day was led by Chesapeake
and Ohio stock, but at the same time the
American Hide and Leather preferred
shares were weak.
New York Central Weak.
The fall in the afternoon eentered
around pronounced weakness in New
York Central stock. and might have been
helped 10 some small extent by a do
cided break In the st. Louis and South
western common and preferred shares
The last-named stocks are wholly OF the
inactive class but tO-day's DEVELOPMENT
seemed TO indicate that there was but
little real market for either or them
The ST. Louis and Southwestern common,
which has been holding around 80 sold
at q yesterday. and to-day fell 10 "a The
preferred stock OF the road, whose last
sale previous 10 to-day was at g on Oc-
tOber "a sold to-day at 63 No explana-
ton Of the weakness OF these shares was
given, but IL was connected with the
sharp decline in Missouri Pacific stock.
the leading Gould issue. some time since
The New York Central shares have APP
parently been the subject of quiet but
continuous liquidation during the last
fortnight
Denial of Bond Issue.
Rumors have circulated that the New
York Central company was about to
make a large bond issue. but an Official
denial of such step has been made.
Most people were inclined 10 draw in
ferences as regards the heaviness Of
New York Central stock from the poor
earnings recently exhibited by nearly
al the New York Central lines.
II is highly probably that from now on
more attention viii be paid by specula-
tive Wall street than hitherto has been
accorded TO the current earnings state
ments OF the country's railroad systems.
For several weeks, and, in fact, for sew
eral months past, IL has been the custom
IN many quarters 10 ascribe the poor
showing made TO what must have been,
had these explanations been true, the de-
liberate doctOring OF railway accounts in
order 10 deceive the government author
titles. 10 whom these reports OF operations
are submitted.
II would not be surprising II before
long this explanation, which is one
typical OF q certain sort Of reasoning at
times common in Wall street, gill not be
In as great favor as formerly.
The London market was depressed to-
day by political uncertainties that gave
rise to apprehensions lest a general cleo
ton may be held in England even before
the end Of the year.