Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-02-07
WASHINGTON NEWS HELPED
Influences Which Maintain Firm Tone
of Dealings.
DAYS TRADING FEATURELESS
Rumors Cause Heavy Pressure on
Missouri Pacifc-Price Movements
Uniform in All Quarters.

NEW YORK, February transactions
In todays stock market were again char
acterized by an exceedingly firm tone. The
chief influences in the days dealings, and at
all events the subjects which formed the
chief topics of discussion. were of some
what indefinite nature. These were found
In the limitations that the arrangements
of the railways had in contemplation an
advance In freight rates and that GER
tain important eastern trunk line would
soon take the initiative in raising its
freight charges by 10 per cent for the pur-
pose of testing public sentiment. 1t was
suggested that the example of the COM
pany would be commonly followed by the
other larger systems
There was nothing definite to be ascer-
tanned in this direction, and. in fact. the
whole idea appeared to be based in large
part upon an interview with the president
of the Great Northern system which was
made public this morning.
Still another factor IN the course of prices
was furnished by Washington advices, also
more or less indefinite, Tat at the present
session of Congress a bill might be passed
permitting of the deposit in the national
banks of the governments recei; from
customs The beneficent influence of such
a measure was generahy recognized al
though 1t must be said that it seems ex-
tremely doubtful that such important leg
term remaining of the present Congress.
The London Market
Although the Bank of England made a
very strong weekly return, the London
stock market was generally heavy and
foreign houses were sellers to the extent
OF about 5000 shares.
The Bank of England's rate of discount
was left unchanged at per cent. but the
bank showed ratio of reserves to liabili-
ties OF 1866 per cent. against 4S,31 per cent
last week, and 1912 per cent in the corre-
spending week Of last year.
Local money market conditions showed
no material alteration. although this morn
ingS figures showed that the banks have
lost in their operations with, the sub
treasury since last Friday more than $4,000
900. 1t Is sufficiently close to the end Of
the week to bring Saturdays bank state
ment into the field of discussion. but ap-
parently little attention was devoted In to-
days market to the outlook for that doc
ument.
There was little other news relating to
the transactions in individual securities
save of a routine character. The day
dealings were even more featureless than
was the case yesterday, the trading not
being marked by such episodes as were
observed yesterday in Great Northern
preferred and Missouri Pacific.
Missouri Pacific Pressed.
These stocks were generally firm to-
day, in common with the market at
large although from time to time Mis-
souri, Pacific was subjected to rather Sc
we're pressure Little further was heard
of the rumors current yesterday that the
company would soon appear in the money
market as q borrower Of additional capital
Price movements were quite uniform In
all quarters Of the market. The most
active features of the railway lists were
Reading, Union and Southern Pacific, st.
Paul, Atchison. Pennsylvania, Erie and
Missouri, Kansas and Texas.
The two last named stocks were excep-
honally strong Missouri, Kansas and Texas
being bought on direct orders from Am
sterdam. The traction stocks we're steady
also despite the rather disappointing show
ing of the Brooklyn Rapid Transit Com
pany for the quarter ended December 81.
Advances ranging from - to point or
more were quite common among the indus
trial and miscellaneous stocks. The United
States Steel shares were steady, while
Sloss- Sheffield and Republic Iron and Steel
were decidedly strong. Amalgamated Cop
per and American Smelling made round
gains and Sugar Refining was quite un-
affected by reports which were current of
an outbreak of serious competition in the
refining industry.