Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-13
Irregular Movements Marked
the Dealings Today.
SOME EXTENSIVE LOSSES
Resumption of Liquidation Upon a
Scattering Scale.
LONDON GENERALLY HEAVY
Operations for Foreign Account of
LONDON GENERALLY HEAVY
Operations for Foreign Account OF
Trifing Proportions-Railway
Traffic Returns Discussed.

special Dispatch to The Star.
NEW YORK December 13.-Novel mo-
tives for the irregular movements in
prices in today's stock market were diff
cult to discover. AS has been the case
throughout the week. there was much dis
Cussion with regard to the probability
that a number OF dividend reductions and
establishments must be reckoned upon
with the course of the next six weeks,
and the views in this regard found spe-
cial reflection in the dealings in New
York Central.
There were, however. almost equally
extensive losses scored during the MORN
ing in other stocks, when the dealings
we're not accom- panied by any corresponds
ing suggestions. There appeared in the
carly part of the day to be resumption
of liquidation upon a scattering scale in
several directions. but most of the pres
sure to which prices were subjected repre-
scented plainly operations for the short
account
The London stock market was generally
heavy on intimation that the Bank OF
England would probably maintain its min
imum rate of discount at . per cent until
the middle of January. This led to con-
tinued weakness In consols and in other
home Investment issues.
Withdrawals of Gold.
Operations here for foreign account
were. however. of trifiing proportions.
There were further small Withdrawals of
gold from the Bank of England for ship
ment to New York. The local premium
on currency still maintained in the
neigEborhood of l per cent.
The days actual news relating to par
ticular stocks was confined to such re-
turns of railway traffic were submitted.
These included the October report of the
Union Pacific railroad which. on account
of very large increase in operating eX-
penSes. showed a reduction in net earn
iuss of Si;i5. 200, or about 10 percent. For
similar reasons the October returns of the
Southern Pacific Company made an even
worse showing, net earnings in that in
stance falling S1.40O,0OO or something
more than A per cent.
At the same time the Union and South
crn Pacific shares were relatively no
heavier than other active railway stocks
The weakness of Pennsylvania was COM
monty described as being in sympathy
with the course of New -ork Central
The extensive declines in Atlantic Coast
Line and the Chicago Great Western is
sues was naturally attributed to the re-
cent dividend actions in both cases.
Some Wide Fluctuations.
The fluctuations in ST. Paul, the Hill
stocks and Reading were unusually wide
Little was done in the local traction
group. The speculative grades of bonds
were somewhat heavy.
Transactions in the industrial and mis-
Cellaneous issues followed the same cen
eral lines as those in the railway list
Sugar Refining was notably weak and
active and the dealings there indicated
continued liquidation. for which the only
explanation advanced was the recent
death of the president of the company
The United States Steel issues were slug
gish and the 6uctuation in American
Smelling and Amalgamated Copper were
compa ~at'vely narrow.
The rates for money on call averaged
below yesterdays mean levels and little
interest appeared to be taken in the pros
poets for tomorrows bank statement.