Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-11-23
RECENT GAINS LOST
Reactionary Tendency Shown
in Early Trading.
RAIL ROADS ALONE STRONG
Good Advances Are Made in Nearly
Every Carrier.
RAIL ROADS ALONE STRONG
INDUsTRIALs INCLINED TO SAG
Speculative Interest Lays, and Move
ments Are Narrow-Firmer
Tone Late in Day.

NEW YORK November ga reac-
tionary tendency was apparent in the
early trading in stocks today. The cop
per shares lost part of their recent gain,
Anaconda declining y and Utah Copper
and Amalgamated Copper e. Among
the railroad issues Union Pacific, with a
loss of a. was heaviest American Tele-
phone lost a point and Third Avenue IS
Stocks displayed a tendency to rally,
but prices did not rise to yesterday S
closing level Southern stocks became
strong in sympathy with Louisville and
Nashville which jumped As on a report
that the capital stock was to be increased
$4,000 ooO to 500, 100000. with privilege
of subscription to stockholders at par.
Atlantic Coast Line advanced "a, Illinois
Central :, and Southern Railway pre-
ferred 1ss Sears-Roebuck improved 6l2
to IA; Lackawanna opened ten points
lower and Texas Company broke to 763s.
the lowest of the year.
Speculative Interest Lays.
Speculative interest Jagged and move
ments were narrow during the morning.
Except for the Southern railway stock,
i'm which further advances were made,
the list was inclined to sag, although
losses were not large. The lower scale
of prices in London exercised a depress-
ing effect at the opening, and. although
bear traders did not attempt aggressive
operations, the demand was too limited
to sustain the list.
Prices generally lowered slightly below
yesterdays final figures, and the pro-
nounced strength of the southern group
was without general effect Reading and
Lehigh Valley reflected a continuance of
the recent pressure against them. and
there was little of interest in the move
ment of the copper stocks, despite q
further advance in the price of the metal.
Trade reports stating that there had
been an all around reduction of 81 a
ton in finished steel products since
last week were without much effect
on United States Steel although it
showed intervals of heaviness, in COM
mon with other stocks. Bonds were
steady.
Railways Show Strength.
Some of the minor southern and
southwestern stocks began to rise
strongly and later the speculation be-
came more active and higher Union
Pacific advanced to 1854. compared
with Ia earlier; Reading to 1924 and
United States Steel to 64a
illineis Central showed a gain of ga
and 81. Louis and San Francisco first
preferred and second preferred. St
Louis Southwestern. Missouri Pacific
Union Pacific preferred and New Haven
/ To points. Texas Company con-
;inued on the down grade. touching
1f12, ii loss Of IL.
inion Pacific was in the van of a pro-
nounctd upward movement which gath
cred strength during the afternoon as the
shorts began To realize that the rise was
meeting with little opposition from the
professional cnent. The stock climbed
steadily Ia lt6ss or two points above yes
ter6as s closing and the highest figure
Yet reached since the long decline was
checked The preferred was also ,Inus-
uaily. active and rose three points. Sub
stautial advances were scored in numer-
Gus other stocks with the speculation
showing increasing breadth.