The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-10-23

New York. oct. 22.-There YVES the usual
comparative falling of to-day in the
quantity or stock market transactions
and a resumption in the forepart Of the
day of the moderate reactiOnary move
ment noted yesterday which carried the
principal stocks down Two points or more
from the high point touched on Friday.
But il was clear that there was little
pressure 10 sell. and in the second hour
Of business the market recovered and
showed gains all round at the close
The leader OF the market. United states
Steel common. made a new high record
on the movement. selling at one time
at 1874. The largest gain made in any one
stock was. however, in American Smelt-
ing and Refining common. which rose
sss points 10 a&. The only explanation
for this was story 10 the effect that the
United States Commissioner OF Corpora
lions would In a report, soon to De issued,
recommend that hereafter Industrial cor
poratl0ns offending under the antitrust
law should be warned that they were
offending and given an opportunity to
act otherwise before legal proceedings
against them were instituted. But II has
been understood throughout the present
year that the policy of the national gov
eTament in these matters would. in fact
be governed in future by a determina-
ton of this kind
Fewer Idle Cars.
The fortnightly bulletin OF the Amerl-
can Railway Association giving the num-
Der OF Idle ears on lines in the United
states and Canada put the gross surplus
at 1856 ears as compared with 2l52S ears
two weeks ago. The annual statement
Of the Pullman Company was issued
showing earnings of l1.6 per cent on the
compa avs present volume of stock OF
Sl2o 0l0.0o0 as compared with earnings last
year Of less than il per cent On the COM
pGny's capitalization At that time o.
Sl00oN.60O
Sterling exchange was again strong
The weekly bank statement differed con-
siderably In its actual and average zig.
uTes, the average statistics reporting
such a decrease in loans and such a mod
crate decrease in cash as to make a
showing Of an increase in surplus reserve
q S3.3S2CO0
In the actual statement the report wa.
made OF a smaller decrease in loans and
z iiIHrt bctIedSt IN cash. resulting IN Z
decrease in surplus of $685. 600.
Warm weather a Drawback.
All reports latterly have agreed thai
the unseasonably warm weather of IN,
entire fail thus far has injured genera
business a good deal The sellers o.
shoes clothing, and all sorts Of mate
rails in which a lively trade depend,
upon the prevalence of weather at q
given time OF the year Of a sort that ear
fairly be expected. all say that thei
trade has been slow. Operating expense
continue 70 show increases on the results
so that decreases in net earnings ar
now common, with the probability tina
decreases in gross, at least on man,
lines, may soon be shown
II business conditions have PLAYED an,
part whatever in the rise in the stool
market IN the shares OF the iron an,
steel companies. this has assumed IN
form OF hopes of improving bushes
rather than signs of improving bushes
Itself The strong expectation IS no doub
that when the railroad corporations fee
that justice is likely 10 be done them Il
the matter of their application for IN
creased freight rates they VIII place III