Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-02-21
Small Volume of Business Pre-
cedes Holiday Closing.
LIMITED RANGE OF PRICES
Uncertainty About Aldrich Bill Has
Some Effect.
BANK STATMENT ESTIMATES
Cash Loss Indicated Of About 81 ,2OO,-
OOO-American Stocks Continue
Firm in London.
LIMITED RANGE OF PRICES
BANK STATMENT ESTIMATES
Special Dispatch to The Star.

NEW YORK, February 21.-In view of all
the circumstances Of the case. not much
was to be expected of today's stock market.
so there should have been no occasion for
disappointment at the meager results OF the
dealings The approaching protracted sus-
pension of business would OF itself have
been a sufficient explanation of the con-
traction in activity, and the latter was en-
phasized by the uncertainty with regard to
the prospects for the Aldrich financial bill
and also by the opening on Monday of the
investigation of the Union Pacific system
by the interstate commerce commission.
So limited and irregular were the fiuctua-
tion3 in prices during the greater part OF
the business session that 1t was well-nigh
impossible to assign specific tor 20 the
market as whole. The day opened with
no contributions of Importance to the gen.
eral circumstances relating to the market
at large or to particular stocks. Discussion
was occupied entirely with the same rather
depressing circumstances which have before
attracted attention for the past fortnight
The preliminary estimates oil the principal
movements in currency thus far during the
week indicated a cash loss by the banks of
abUut u 100000, but perhaps because the
stock exchange will be closed on Saturday
there was very little discussion with regard
to probabilities of the bank statement on
that day.
In the London Market.
American stocks were firm in the London
market in common with the other depart
ments there and foreign houses were again
buyers In the local dealings upon small
scale The Bank of England's rate of dis
count was left unchanged at per cent. and
the bank weekly statement showed a de-
CINE In Its ratio of reserves to liabilities
from 5O29 per cent last week to As per
cent. 1t was worthy of note that both Rus
sian and japanese bonds were exceptionally
heavy in the London market. the former de-
Ginning on the renewed social disturbances
at various points In the Russian empire.
An unusually large proportion of the days
dealings in the local market seemed to
De represented by operations of a strictly
professional character and these reflected
apparently the closing out of contracts on
either side of the account, to be expected
toward the end of the business. Even in
instance OF stocks which showed the widest
fluctuations there was little 20 be elicted
In explanation thereof, save OF technical
description.
Reading was one Of the weakest and most
the so-called Hill issues were heavy, pre-
sumably in connection with the recent pes
simistic utterances expressed by the head
of the system Notwithstanding the near
approach of the investigation of the Union
Pacific system. Union Pacific stock was
among the firmest features of the days
market.
B. and O. Earnings.
The days statement of earnings SUBJ
mitted exhibited tendencies corresponding
with those which have been exhibited for
some time past. One of the most striking
relations was made by the Baltimore and
Ohio, which for the month of January re-
ported decrease in gross earnings of s207.-
900 and an increase in operating expenses
OF more than $239. 900.
Little OF interest resulted from the trans
actions in the industrial and miscellaneous
issues or the traction shares. United States
Steel common was one o. the most active
stocks of the whole market. and in the
early part OF the day reflected quite severe
pressure Later the stock rallied. and, in
fact, the general market during the after
noon showed somewhat firmer tendencies
than prevailed during the morning session.