The Washington herald., 1910-11-01
WALL STREET NEWS
Stock Market Is Dull and
Entirely Professional.
RISE IN CANADIAN PACIFIC
Distinct HeRViness shown In Some
railway sharex--Weakness of Early
Hours Followed by Rally, and al
Close Prices Are Practically as at
opening-TO-day Eaglish Holiday.

New York. Oct. 3l.-This at least could
he said Of the dOings in the stock ex-
change to-day that they were the dullest
most uninterssting and least active OF
any seen In the last three weeks The
Market, WIS, of course. entirely profess
sional vita this difference from It's Inn
mediate predecessors that those who were
conducting operations were obviously OF
the lesser sort of stock exchange room
trades. and not the large spectators
who have been busy IN the market for
some time recently.
Dealings in stocks were only a little
more than half OF the late daily average.
Prices were distinctly inclined 10 weak
ness In the fore part of the day. and in
deed up 10 the last half hour OF business.
Then they rallied not over briskIy upon
buying that seemed to Re a retirement of
contracts FOR the decline put out during
the morning and on Saturday and left OFF
not far from Saturdays closing level.
but still making a net record OF highly
irregular advances and declines.
Several Close Unchanged.
The Union Pacific and United states
Steel shares on relatively large volume
OF trading closed absolutely UNCHANGED
for the day. There were no changes in
many other principa! stocks. and in
others the differences from the Saturday
finals were small As much feature
as anything was the rise in the afternoon
IN Canadian Pacific stock. for what rea-
son no one knows, but this Is a stock in
which there is very little local public
interest and which seems TO be affected
solely by dealings for Canadian and Lon
don account
on the other hand, distinct heaviness
was shown among the railway shares by
Chicago. Milwaukee and ST. Paul stock
and 10 less extent by the Pennsylvania
railroad shares. A current story ran TO
the effect that the forthcoming monthly
statement Of the Pennsylvania earnings
would be poor. More or less attention
was also attracted by specific weakness
in the Bethlehem Steel and Iron. and at
one time United states Steel preferred
shares. For both OF these stocks, and
rather strangely in tie case Of the last
named, there appeared to be a very poor
market when anything Ike pressure 10
sell appeared.
Known as "ThIn Market"
Indeed. it is true, as a general obser-
walton of the market as a whole, that
there is what is technically known as
thin market" for the majority of stocks
in which no particular manipulation is at
the moment going on. This. il must he
confessed, gives 20 the market as a unit
an artificial and not altogether encourag-
ing appearance
OF news developments to-day there were
none OF Importance. The Erie's report for
September showed an increase of $4,000
in gross and of $500 in net, which seem
ed tc indicate, as similar reports have In
the past. that the Erie is some how able
10 make better comparative showing
of gross Increases than are its sister COM
panies. As tomorrow will be "A holiday
in London, business on the stock eX-
change there was contracted. but dis
counts were slightly lower, and the Bank
Of England managed 10 purchase most of
the 100000 gold offered during the day
n the bullion markets.