Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-23
Transactions Today Largely
Professional.
SCATTERING LIQUIDATION
London Market About as Sluggish a.
in Gotham.
BANKS INCREASED THEIR GAIN
Volume of Business Fell Far Below
Yesterdays Aggregate-oreat
Northern Incident.
BANKS INCREASED THEIR GAIN


Special Dispatch to The Star.
NEW YORK. January 23.-Transactions
In today's stock market were commonly de-
scribed by close observers as being to an
unusual extent Of strictly professional
character and when they passed beyond
that Characterization, they represented ap-
parently renewed. although scattering
hquidations. 1t would be impossible to as
sign any definite tone to the market as an
entirety The days dealings resulted In
the same backing and filling movements
which have been observed thus FAR
throughout the week -
be detected was scattering and sporadic
and at all events by no means as heavy ana
general as during the past fortnight.
Competent observers of mechanical mar
ket conditions assert that there exists az
the present time a short interest OF UNI
usual magnitude. but on the other mana
the position of this speculative faction does
not appear to be either aSSalled or threat
ened by operations for the bull account or
by any actual outside demand for securi-
ties 1t would appear consequently that
for some time to come Scant significance
needs to be attached TO the daily irregular
fluctuations in prices.
The London stock market was about as
sluggish that conducted upon the New
York stock exchange. Moreover, the ten
dency of the market wa equally wanting
in definite and exact explanations Opera
tons here for foreign account were upon
a negligible scale SO far as their erect
upon prices was concerne-- Money market
conditions showed no alterations In any
directions and sterling exchange was again
easy.
The banks have increased their gain In
their operations with the subtreasury since
Friday up to 81 1865 600, but little attention
appeared to be accorded to n consequent ia
vorable outlook for Saturdays bank state
ment Word came from Washington that
the Secretary OF the Treasury had decided
further to extend the time which the
banks must return that portion or their
holdings of government funds already under
call. that the payments will run through
February March and perhaps longer.
A Pessimistic Temper.
In the prevailing temper of the street. a
rather pessimistic Interpretation was placed
upon this intelligence. on the ground that
che Secretary's decision l. .icated continuing
uuea slness on his part as to the course Of
the money market during the next two or
three months. The volume Of business fell
far below yesterdays aggregate. and at
times trading came almost . a standsttll,
although the later dealings showed the GUS
tomary comparative increase in animation.
About the only important news relating
to one stock another was set forth in the
mornings dispatches from the west to the
effect that one of the county courts of the
state of Minnesota had issued q temporary
injunction restraining the Great Northern
Railway Company from issuing $50, OOO.OD
of new stock recently provided for pending
an ultimate decision upon the real merits
Of the case.