Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-21
DECLINE IS PROTRACTED
Opening is, However, Substantially
Above Saturdays Closing.
ALL ACCOUNTS WERE ADJUSTED
Clearing House Statement OF the
Stock Exchange Has Wholesome
Effect on Market.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, January 21.-It seemed to
be the common opinion that today's stock
market gave a disappointing account OF
itself in view of the preceding protracted
decline In prices and the continued absence
of anything actually definite In explanation
of the downward swing. There was a GOOD
deal of uneasiness Saturday afternoon with
regard to the progress of the settlement
upon the stock exchange clearing house TINS
morning. but II soon became known that all
accounts had been satisfactorily adjusted
Previous to the assurances in this regard
the general market after having opened
figures developed irreguarity, but ad-
vanced again when definite intelligence was
received as to the clearing house settle
ment.
Before the end of the forenoon. however,
there took place a very sharp break In
Brooklyn Rapid Transit and lnterborough.
Metropolitan shares, and the outpurst OF
apparent liquidation In these STOCKS Gre
ated a disagreeable impression as suggest
ing that the selling of that description had
not been concluded last week, as had been
hoped
Reduced Liquidation.
As matter Of fact. however. liquidation
was In greatly reduced scale in comparison
with last weeks records. but on the other
hand such fits of strength as the market
exhibited from time to time appeared TO De
caused almost wholly by the covering OF
short contracts induced by the diminished
liquidation. 1t must be added that there
was as little that was definite ana Inn
portant to be- adduced in connection with
the days irregular movements IN prices as
was the case during last weeks continuous
declines.
The most interesting development over
Sunday might be named in the disagreeable
incident at Kingston. Jamaica, but even
bearishly disposed traders did not attempt
to make market capital out of that occur
renee.
The London stock market was in fact
firm. although quite sluggish and opera
tons here for foreign account resulted In
the purchase of about 25,0O0 shares. Not
wthstanding the successful conclusion of
the settlement upon the clearing mousse
stock exchange there was again no little
recurrent uneasness as to the position OF
certain firms and individuals who are sup
posed to have suffered the most severely
through the declines In prices since the
first. of the year and previously.
Break in Local Traction.
The sudden break in the local traction
shares was, perhaps the most striking fea-
ture of the days dealings. but aside from
some apparently unwarranted discussion
with regard to the dividend on INTERIOR
ough Metropolitan preferred, there was lit
tie gossip attending the dealings there.
Furthermore, Brooklyn Rapid Transit,
wfIich Is a non-dividend payer, was equally
as weak as the PETERBOROUGH stock.
Some quite extensive maximum advances
were scored in the industrial and miscel-
laneous shares at one time or another dur
ing the day, noteworthy cases in point be-
ing Virginia Coal. Coke and Iron, CONSOLE
dated Gas, American Smelling and Anal
gamated Copper, but in most of these in
stances the full gains were shaded with the
course of the business session. The United
States Steel stocks were active and COM
paratively steady.