Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-12-24
Railroad Shares Were Weak
at Opening.
INDUSTRIALS STRONGER
GENERAL DISPOSITION TO UN-
LOAD OVER HOLIDAYS.
Call Money Started at 10 Per Cent
Rally at Close Of Mar
ket
cial DISPATCH TO The Evening Star

Special DISPATCH to The Evening Star.
NEW YORK. December 24-In the Lon
don stock market American shares wers
irregular, with prices generally fraction
ally lower. Consols were unchanged for
money and 1-16 lower for account.
In the local stock market prices vera
fractionally lower. and there was very lit
tie animation in the early trading. There
was disposition. however. to get rid of
stocks wherever the chances offered. and
the traders were more openly bearish on
the immediate situation than for some time
Call money rates opened at 10 per cent,
and this was the most important factor
shaping speculative moves; another factor
to check buying was the still complicated
venezuelan situation. which, it is still
thought, may drag along for some little
time yet In an unsettled and at times pos
sibly disturbing manner.
The general railway list was Inclined to
sag al the start but there was no great
pressure to sell noticeable and the market
only lost fractionally.
The western crowd were said to be buy
ers Of Reading. but the stock did not bull
easily. in fact, after the first hour of trad
ing the price lost q per cent from yester-
days closing price.
New York Central. too. acted heavy, SELL
ing off about IL per cent. and IT was
thought the sales were for the account OF
people who had thought the dividend. which
was declared yesterday, would be an in
creased one instead Of at the regular rate.
There was also some disappointment ex-
per cent bonds did not bring about the saw
ing in fixed charges that was expected.
st. Paul and Rock Island issues, and Mis-
souri, Pacific were fairly supported and held
comparatively steady. There was also good
support in the United States Steel issue.
and hints at a bull campaign in these
shares after the turn Of the year.
Sugar rallied point after the early de-
cline what looked like a LITTLE short
covering movement. The price did not hold
well. however, as good Judges of the sugar
situation at Washington think the Cuban
reciprocity measure Is quite long way
off.
Bond dealings were well distributed with
out much change in the prices.
After the first hours trading Brooklyn
Rapid Transit became active and strong. The
buying, which was in round lots. came
from several good houses. and the price
quickly rallied to 6s1s. gain Of about 3
per cent from the opening figures.
There was no news at this time to ac-
count for the rise and the general idea was
that 1t was only maniuplative movement
to run in the short account. The general
roads, became stronger and the rally in the
general list was from one-half to three
quarters per cent.
Activity, however. was lacking, and al
though prices were shade better, there APP
peared to be very little interest in the mar
ket to either bull or bear. A little later on
the old rlMnor associatinS PENNSYLVANIA
Railroad Company with the Brooklyn rapid
transit property was again put out to
count for the strength In the latter stock.
Texas Pacific acted heavy throughout the
early trading and seemed to be under pres
sure on each rally that occurred in the
later dealings
London was a very small trader, their
transactions not being much above 5000
shares, selling on balance
Around the delivery hour there was a dis
position to cover short contracts, and prices
were bid up from X to per cent. Transac-
TONS however. were only nominal, and the
rally did not look as thought 1t would last.
business was almost entirely suspended
after o'clock, owing to celebration OF
Christmas by the brokers on the floor, the
usual earnest business tactics giving way
to mirthful and grotesque antics
In the last trading the market continued
to hold the rally started around = O'Clock,
but trading was very limited.