Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-01-29
The Currency Situation Continues t
Monopolize Attention.
BELIEVED 4 BOND issue WILL COME
Proposed Gold Shipments Have
Been Postponed.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, Jsnuary 29-The liquidation
of all investment and speculative hold
ings. accompanied by the usual professional
cooperation, resulted in lower level Of
values at the opening Of the stock market
this morning. Concessions varying from
IA to 1-2 per cent were noted in the COM
parsons made with yesterdays finals.
The currency situation continues to mon
opolize the attention of the financial world.
but the feeling of apprehension is less tense
than yesterday. The Presidents message
to Congress, it is be ieved, will force an is
sue of bonds either under the provisions OF
existing laws or rEder authority yet to be
granted by the legislative department Of
the government. Washington advices re-
ceived shortly after the noon hour indcat-
ed a willingness on the part of the Senate
finance committee to take immediate ac-
ton for the relief CT the treasury, and
bill based on certain suggestions made at
the meeting of this committee is likely to
be drafted and presented without delay.
The reception likely to be accorded the
measure when reported, arguing from SIR
face indications, will not be such as 10
inspire confidence In the success or the
final vote A bill of some sort aimed az
the eradication of the more patent evils or
the present financial policy may pass at
this session of Congress, but well-inform-
ed authorities, both in and out or Con-
gress predict that no bonds will be issued,
except such are allowed under the pro-
visions of measures already enacted into
law.
The amount of gold to go out by tomor-
rows steamers will aggregate about 2ob.-
CO., the bulk of which has previously been
reported as withdraw from the vaults .,
the subtreasury. Many firms reported
among those likely to ship gold have de-
cided to postpone such action until later
in the week. Last weeks heavy loss viii
not be duplicated by the present move
ment unless legislative action at WASH
ington should be disappointing In Its ten
dency toward relief.
y IL per cent discrepancy between yes
terday's closing Did price on Canadian Pa
cific and initial figures this morning was
explained by the report that the CANADIAN
government is interested IN prooect 70
tarallel the liEes of this company, ana mas
ATTEMPTED. to raise the necessary tunds IN
London. This intelligence was no surprise
TO certain weil-informed operators, VINO
have sold the stock in London at every OPP
pcrtunity in anticipation OF this announce
nient.
The report of earnings submitted by this
property for the month OF DECEMBER re,
fiected an increase of SI!i6, ana decrease
for the year 1924 of S-31SUo.
Manhattan was moderately acuSe on
selling by the room. resulting IN 2 decnne
of | "a per cert, part of when vas re-
gained later in the day on purchases TOT
both accounts. Louisville and l'ashviile
sold down IA per cent western Unipn
10 per cent and other less active stocks
forfeited smaller fractions in proportion 10
the extent of their activity. During the
early afternoon the market took on an
air Of strength which, in many instances,
resulted in the complete recovery OF early
core essions.
In the industrial list General Electric
was under pressure early in the day. but
the discontinuance of Hquidating sales
started a covering movement which mark
ed the price up beyond opening hsures-
Sugar declined IL per cent on selling Tor
both accounts but rallied for a gain or
per cent from the low level. There were
no important developments to influence the
action of this stock. Dfstiiers was weak
on scattered ceiling, a l per cent reduction
being accomplished without opposition.
The affairs of the Chicago Gas companies
are unchanged, the pools confidence in It's
ultimate success being attested by the
excellent support given the stock at the
least indication of weakness under the
periodical attacks of the trading element
The last hours trading was fairly active
and higher under favorable Washington
developments. the details of which were
known only to a few. The ease with which
the market responded to this intelligence
indicates it's extreme constituencies and
emphasizes the risk entailed by further
extension of the short interest