The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1911-10-12
The MARKETS
QUOTATIONS WENT
ABOVE YESTERDAY
Railroads, American Smelt-
ing and American Beet
Sugar Rose

New York, Oct. IA spirited bid
ding-up OF prices in the last half hour
Of trading on the stock exchange to-
day carried quotations to a point we'll
above the final range Of he previous
day. Union Pacific. Southern Pacific.
American Smelling ard American Beet
Sugar rose to a point or more above
yesterdays close on the upturn and
Reading. which had been the con-
Spicuously weak feature OF h mar
ket recovered It's loss. Profit taking
sales just before the close reduced
these gains somewhat.
Concentrated selling Of Reading
sent 1t down from 1877 to 1876 SIS. less
than two points above it's low level
Of the year.. Trading was moderately
active at the outset. but the demand
was limited largely to, requirements
for short covering. Buying Of this
nature soon diminished. and the mar
ket remained in a stagnant condition
until near the close.
United States Steel was still under
less proportionately than other mar
ket leaders and 1t was the first to
yield when profit taking sales were
begun. Despite the denial Of the at
torney general that a suit against the
United States Steel corporation has
been prepared at the statements Of
the corporations heads that its OPP
erattons were within the law. there
exists a widespread feeling that the
deavor to establish clearly the
status Of the largest combination in
the country. In the meantime the
shares do not show resiliency. The
demand for bonds continues to broad
en-. which Is regarded a. one of the
most hopeful signs Of the present
situation.
American Tobacco four per cent
bonds rose to 30. their highest price
for the movement. which represented
a gain Of l 5-8. Buying of these
bonds was stimulated by reports that
the plan of reorganization had been
changed in such a way as to benefit
no e of these securities.
The foreign exchange market was
somewhat affected by remittances by
banks and trust companies to Lon
American leaders were again an i'm
portant factor. American bankers are
also carrying a large amount of COM
mercial bills originating on this side,
which usually would be discounted in
foreign markets. but which now are
being carried with American money.
1t Is estimated by some internation-
al bankers that this market has loan
ed moro than 5000. 900. 900 to the
European markets.
Bonds were strong. Total sales. par
value. ~$5.710.000. United States bonds
unchanged on call.
Money Market.
London. Oct. 12.-Money was easy
to obtain today but the large gold ex-
ports hardened discount rates.
The stock market was quiet ana
cheerful. Belief in an early settle
ment Of the Moroccan dispute induced
better support in the gilt edged Sec
prices in home rails and the continent
bought freely.
American securities were quiet and
f%eatureless throughout the session.
Prices opened about unchanged and
lated advanced a small fraction on
light covering. The closing was dull
but steady.
Cattle Market.
Chicago, Oct. 12.-Close-Cattle-
Receipts 10000: market strong for
good trades: others slow and steady:
beeves. $4.85@s.50; Texas steers, sails
@6.20: western steers. 1925 @6.s0;
stockers and feeders. $3.25@5.70;
cows and heifers. $6.12@6.15; calves,
Hoss-Receipts $4,000 head; mar.
light 1896 1855: mixed, ss@6.7o:
heavy. $5.9O@6.65: rough. $4,000
$40; good to choice heavy, $1,000
SOS: pigs. $4.20@6; bulk Of sales,
$6.20@6.60.
sheep-Receipts 10000 head; mar
ket. dull and weak: native, $4,000
4.l5: western, $3@4.15: yearlings,
1885 q 4.65; lambs, native, $4.25@6;
western, $4.25@6.10.