| Show I 7 STOCK MARKET I t IS NEGLECTED f Powers Said to De Desire Desire Desire sire a Period of Speculative I IJ j J Quiet BROKERS AFRAID TO MOVE a CLOSE iOSE WAS HEAVY EXCEPT IN PENNSYLVANIA New York Oct 9 Stocks failed to re respond spond to the leadership of or a few Issues w which showed strength today and th condition of the market became lethargic td tho the latter part of the day The for the neglect Into which the market fell f ll was not clear but the way in which stock was supplied on any ad adVance Vance ance and the absence of large trans tl ns fostered the impression that the th controlling powers in the tho market desired A period of ot speculative quiet Traders professed to see In some of ot the selling a character caracter that intimidated them from any ny attempts to contest the indifference L thos signalized There was no acute k pressure at any time and the movements at Lt one or two points in the list Hat where ad advances advances vances vances occurred d were believed to be for sustaining effect The railroad list was conspicuously neg and Pennsylvania was the only stock of ot importance to show any an large a or mobility There were some large buying operations in that stock accompanied by rumors of an Intention to raise the dividend rate to 7 per cent at the next dividend period There Th re was a rise of or a point also in the subsidiary Chesapeake Ohio but when it Jt known knon that the directors wHo wio were expected to act on an Increased div today had failed to secure a quo quorum quorum rum the movement ran out outA outA outS S A rumored dividend Increase stimulated d Amalgamated Copper also in the early earb dealings Tire The moderate strength in Union Pacific was due to the tho expectation of oC the early publication of or the annual report In pamphlet t form which is expected to con tain tam matter to commend the stock to buyers but It was announced that sev soy several several 54 eral weeks would probably Intervene be K t fore the report would go to stockholders General Electric advanced on rumors of an Rn Intended stock Issue with valuable valuableS S subscription privileges It carried with J It other stocks of ot companies in the same line tine of Industry notably Westinghouse Electric American Locomotive and Al American Smelting also ex et tended its recent large advance Money Ioney In the th 0 local market continued to tork yOrk work rk easier and there was a disposition to shade the 6 pcr per cent rate on time loans for the first time in many weeks Foreign markets had more Influence on money considerations than the domestic situation There was some somo slight relax relaxation aITon in the London money mone market The conviction is general that the Imperial I bank b of Germany will raise its discount rate ra te tomorrow The foreign exchange market here was very vory strong and ana rose at one time over cont nt in the pound sterling Demand for l ml to cover COer maturing finance was reported to be rather urgent nt yuul md the supply of commercial bills was light J ht The Tho heavy licay tons tone of the later mar ket Ket persisted to the closing except in Pennsylvania P Bonds were firm Total safes par pr p r value ulue United States bonds I arc unchanged on call |
