The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1911-10-06
The MARKETS
DULLNESS IS
PRIME FACTOR
Heaviness of American Sc
curities Abroad Caused
Early Weakness

New York, Oct. 6-Dullness, which
followed. last weeks partial recovery
in the stock market was continued
today. Trading was almost the light
weeks. The drift was again down
ward at the outset. but losses then
sustained were soon followed by re-
coveries, and the final dealings. when
prices we're at their best, resulted In
numerous substantial net gains.
Early weakness, which brought a
number of one point declines. was at
tributed to the heaviness of American
securities abroad. the tone of the
London and continental exchanges re-
fiecting a degree of uncertainty.
October settlements proceeded nor
mally in Paris, although prices on
that bourse were weak. with a similar
condition in Berlin because of the
continued delay in the settlement of
the Moroccan peace negotiations.
The bank Of France reported a
an increase in loans and discounts of
almost 5000 600.
The bank of England lost $12,500.-
900 of tbs bullion n total reserves
decreased by about $15.000.0 900 while
it's proportion of reserves to liabili-
ties fell from 55.35 per cent to 51.46.
Even the latter showing. however, is
ldT III eACeSS VI us CAIIlOlI LUZ Tic
corresponding period last year. The
British institution shipped $1.500.000
gold to Turkey and a small amount to
Egypt. Paris exchange OF London
advanced slightly with no change in
the private rate Of discount at the
French capital.
A smart rise in long sterling here
was ascribed to investment buying Of
exchange bills.
Domestic developments hardly exer-
cised any influence upon the market
for securities.
A mildly optimistic interview at
tributed to the guiding spirit Of the
Great Northern inc Northern Pacific
roads was helpful to those issues, and
the prolongation of the labor troubles
on the Hartman lines was without
adverse effect upon Union Pacific and
subsidiary lines. Sporadic selling of
the steel shares was probably respon-
sible for the early depression, which
was fully Offset by the extensive buy
ing and material gain in the final
hour. Copper stocks were fairly steady
on reports that domestic demand for
the metal Is on the increase. West
in the lesser industrials American beet
sugar and United States rubber were
active and strong On board room gos-
sip of prospective dividend disburse-
ments, which In the case Of rubber
vas later confirmed.
There were unofficial limitations
that the Reconstruction" plan Of the
American Tobacco company would he
filed with h court tomorrow, n the
various issues of that corporation were
both active and strong.
The most noteworthy railroad re-
port submitted vac that Of the Louis
VILE and Nashville road for the year
ended June 80 last. showing earnings
Of IA IA per cent on the outstanding
stock. despite q loss Of almost $4,000
900 in net.
The bond market was steady. with
greatest activity in American Tobacco
skies. Total sales. par value. $685..
600. United States governments were
unchanged on call.
Money Easier.
London. Oct. 6.-Although money
was easier on the seven million pounds
OF dividend disbursements discount:
ruled firm owing to the poo banl
statement, and the expectation of fur
Their gold shipments.
The stock market was quiet ant
somewhat hesitating on the Tripod
situation. Turkish bonds lost a poin
on p~rofit-taking which eased hom'
rails n Mexican rails. Paris Offered
tintos. consols. In which the settle
ment was concluded. recovered tn
early decline of an eighth.
American securities opened quie
and declined under realizing Tn
market later improved on Wall stree
, buying and closed quiet but steady.
Cattle Market.
Chicago, Oct, 6.-Close-Cattle-