Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-12-16
Market Movements Highly
Irregular Today.
FEW ACTIVE FEATURES
NOTABLE DEALINGS IN SOME
LEADING RAILWAYS.
The Bulk Of the Days Transactions
Contributed by the Industrials-
London Stocks Depressed.
FEW ACTIVE FEATURE
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. December 16.-Stock mar
ket movements this morning were highly ir-
regular, number of closely related stocks
moving in contrary directions
Thus Union Pacific was one of the most
active and firmest features of the list.
while on the other hand, Southern Pacific
showed marked pressure Dealings In the
last named were, of course, influenced by
the intimations in the annual report of the
company, published yesterday, that 1t was
not the policy of the management to in
augurate dividend payments OF the stock
at an early date
The announcement made after the close
of business yesterday of the reduction In
the rate of dividend on Chicago. Rock
Island and Pacific Railway stock. and the
virtual declaration that the January divi-
dend on the preferred stock of the Rock
Island Company of New Jersey would be
passed, created disagreeaDle impression.
Rock Island and its allied issues did, In
deed open comparatively firm on the notion
that the unfavorable intelligence had been
discounted. but with the course of the
morning they all broke sharply.
The Industrial Shares.
AS has been the case throughout the
week, the Industrial shares furnished the
bulk of the days dealings and most OF
the extensive advances. Conspicuous fea-
lures there were Sugar Refining, American
Beet Sugar, Distillers' Securities and Anal
gamated Copper. Little gossip of novelty
attended the movements in the Industrial
stocks or in other quarters of the market.
In the local traction group Brooklyn
Rapid Transit continued exceedingly strong
and active.
10 market depressed
on account of the recurrence of anxiety
there as to the out-turn OF the SITUATION III
Russia Russian bonds and otner inteInd-
tional securities were sharply depressed III
London on selling for continental account,
and foreign houses were In turn sellers IA
the local market Favorable forecasts OF
the weekly bank statement were current
during the morning and were sustaining
influence in the stock market tranSactlohS'
The Bank Statement.
No disappointment was experienced upon
the appearance of the bank statement, the
figures of which made decidedly strong
showing On account of a material increase
in actual cash and a large decrease In the
loan account, last weeks dehcit IN sur
plus reserves was obiterated, and the
banks now hold surplus cash holdings In
excess of 100000.
The important changes in the bank state
ment were a decrease in loans of $ll,Io6,oOO
and an increase in cash of 50, 10000. The
change in the last-named item tailed
fairly well with the preliminary estimates.
In consequence of the changes in loans and
in cash. the deposit item decreased $S,34f'
600 and reserves Increased s5,20i ,0OJ. Sur
| plus reserves in the corresponding week OF
| last year were sl4,5io,eJi: IN 1900, Sl1,o-o'-
| go, and in 1862, $S093, 600.
The stock market Was not materially at
| fected by the strong weekly bank state
| ment, and on the contrary continued higniy
| irregular, and in the later dealings some
what reactionary.