The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1911-10-24
The MARKETS
MARKET DULL
AND L|STLESS
The Prices Barely Moved
Through Session and the
Trading Light

AOAns VII. 3'-1TlVe8 barely
moved through most OF today's ses-
sion on the stock exchange. The
market, was dull and .listless, and in
the absence Of any inducements for
speculative operations trading was
light.
London sent over a somewhat lower
range Of prices before the opening and
this fact, coupled with moderate pres
sure from professional traders, caus-
ed slight recessions in the early trad
ing.
1t was soon apparent. however, that
the bears were attracting no follow
Ing by selling the market, and that so
far as any tendency was observable, it
was rather in the direction of better
prices.
The market rallied briskly and held
firm until shortly before the close,
when a final drive eliminated most OF
the modest gains which had been
made. The session ended with no
change of consequence among the
speculative issues.
Reading showed the greatest
strength of any of the leading stocks.
Chesapeake and Ohio recovered part
OF the loss which it sustained last
week upon publication Of an unfavor-
able annual report and Norfolk and
western also moved upward.
Among the industrials. Information
al Harvester, with a gain of nearly s
points was strongest. Underwood
typewriter also developed strength,
gaining 3 1-2. There were a few weak
points among the industrials. New
York Airhrake fell 3 10 points to 50,
Its lowest price In many years.
Liquidation OF this stock and Of the
lNnnVartihln civ nor nonf hn,nSn ~AnAnk
ly is attributed to delay in declaration
Of the usual dividend. There was
some further selling of American To-
bacco preferred which lost a point,
although the bonds held steady.
United States Steel was again the
most active stock, and displayed ef-
fective resistance to bear stock. The
days trade reports indicated that in
coming orders were smaller than a
Of many products are almost at the
lowest level of q decade.
Although business early in, thie
month showed some Improvement, the
present contraction renders it uncer-
tain whether orders for October will
be as large as in September. Purchas-
es of equipment by railroads continue
to be far below normal.
Perhaps the most significant event
Va kAAC uoJ wac AtO d1lltOuklSo1kSUk kkk0
O large part of a 100000, 900 loan for
the Prussian government was to be
placed here in the form of 1 Ia per
cent six months treasury bills. The
Offering of so large a portion Of the
loan at this point vas regarded as the
only logical one in view of the extreme
ease of money in New York. IA com.
pared with the date Of payment on the
Prussian loan. funds for six monthz
uyoro nllntad hARn fndoy nt q "a ~nr
cent.
A moderate increase was reported in
the mercantile demand for money.
both locally and In the interior. For
eign exchange rates held steady.
The fact that the hank Of France
was able to procure $2,O00,0 900 of the
$4,000 900 South African gold offered
in London might operate. 1t was
thought. to relieve the situation some
what at the French capital and lessen
the chances that New York would be
called upon to export gold to that
point.
The bond marketwas quiet and ir.
regular. The total sales. par value.
s2.1o0.o00.
u. s. bonds were unchanged on call.
Money Market.
London. Oct. 24.-Money "a easy
and discount rates were steady today
with aScut $4,000. 900 South African
gold was offered In the open market
and most Of 1t was taken by Paris.
The stock market vas quiet and IT.
regular. Consols.. diamond shares and
Rio Tintos improved. but kAfirs and
Chinese bonds sagged. while the move
ments In home rails were uncertain.
American securities were quiet and
featureless during the forenoon. The
continental selling caused a decline,
but this was followed by a recovery
due to Wall street support. In the late
trading prices sagged again ana the
market closed easy.