The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-10-16

New York. oct. l4.-Trading IN stocks
ana bonds continued to-day at the same
increased pace of activity as yesterday.
The opening was at prices little changed
from yesterdays close, but IN the first
half hour stocks reacted moderately and
encouraged a revival OF aggressive short
selling Traders on the floor had the
theory that stop loss orders could be
caught after such precipitate advance
as in the previous days of the week. but
their attacks failed TO dlslodge a profit
able amount of stock and before the
end of the first hour The market har-
dened and presently the advance was
resumed.
In the late trading the pace quickened
and an enthusiastic upward movement
stimulated perhaps by covering of shorts
contracts put out early in the session.
was in progress at tho close.
The failure of a small stock exchange
house, announced after the close of the
market yesterday. had very little effect
on the market, and that little was ia
vorable because the suspension was con-
sidered a bear failure.
" Aik meg iatc steer mixing.
Opinions favorable 20 the market were
strengthened By the meeting Of repre-
sentativCs Of the great steel mnnufactur-
ing companies and the broaching of a
plan for a world wide regulation OF pro-
ducuon.
The bank statement was Unexpectedly
favorable. showing an increase of
H. ia ssrIA n
substantial decrease had been predicted
by the known movements Of money. The
banks lost cash. but contracted loans 20
the amount of 100000 State banks
and trust companies showed a loan eX-
Hsnslon of 100000. and II is apparent
that there was heavy shifting OF loans
from banks 10 trust companies such as
is customary whenever the call money
rate advances.
The aggressive buying movement set In
Immediately following the publication Of
The government crop report on Monday
and I'm the following days or the week
was assisted by such occurrences as the
decline I'm the grain markets. The nota-
bic increase In the country's exports of
agricultural products, the approach 10 a
settlement of the controversy over cotton
bills OF Iading, a somewhat better feeling
over the political situation, the impressive
strength of the railroad argument before
the Interstate Commerce Commission. ana
the arrangements for a worldwide agree
ment among steel manufacturers. and the
agreement for a curtaiment OF copper
production by big foreign producers and
important American companies
Decrease In Bank CIearIngS.
The United states steel Corporations
statement or untitled orders showed a
considerable decrease and bank clearings
Tor the week again showed a substantial
decrease from the total for the CORE
spending week last year other trade
reports showed a moderate improvement
generally
There was a notable Improvement In
the textile trade. cotton spinners had
long been running on short time, inCreas-
ing their output and dry goods houses re-
porting a much better fall trade than had
been anticipated Railroad gross earnings
continued above the corresponding period
last year.
The principal strength OF the general
business situation. according 10 the con-
sensus of trade reviews. is the compare
lively small quantity of stocks on hand
with manufacturers. jobbers and retailers.
This is a condition that means highly
prosperous business in case political ran
cor against business is overcome and con-
fdenca continues TO improve.