Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-01-25
Declines in the Stock Market
Is Not Easy to Explain.
COAL REPORT IS BLAMED
Commerce Commissions Statement
Taken Into Account. -
GREAT NORTHERN WEAKENS
Influenced by Legal Proceedings In
Minnesota-Big Gain Expected In
COAL REPORT IS BLAMED
GREAT NORTHERN WEAKENS
s,eci,I pIspatch TO The Star.

Special Dispatch to The Star.
NEW YORK January 25.-A superficial
explanation of the declines in todays stock
market was found in the transmission 10
Congress of the report of the interstate
commerce commission of it's Investigation
of the relations between the railway lines
and the bituminous coal industry.
As Il matter of fact, the report set forth
little or nothing that has not been expiolted
before: In addition, many stocks showed
greater degree of weakness than those d.
rectIv concerned with the findings OF the
Interstate commerce commission. and FUR
thermore the market was weak long oeiore
there was any general information as 10
the nature of the interstate coneieo N
missions report.
That however being the most tangible
feature OF the days situation, 1t was NIT
upon as accounting for the genera Gout %
of prices. On the other hand. except III .,s
case of few individual securities. IL was
difficult to assign any specific reasons oi
novelty for the markets course
Great Northern preferred showed excep-
tioral- wea kness, and in that instance the
decline appeared to have some connecuon
with the institution of proceedings py the
attorney general of the state OF Minnesota
against the ST. Paul. Minneapolis and MANI
toba railroad. the parent company OF the
Great Northern to show cause why itS
charter should not be revoked. The ground
work of the complaint of Minnesotas active
attorney general not clearly stated.
Losses in Railway List.
Other railway stocks which showed round
losses at one time or another during the
day we're Erie issues, Pennsylvania. Atchi-
son. st Paul, Southern Pacific, Union Pa
ci6c Reading. Louisville and Nashville,
Southern Railway preferred and Canadian
PacffIt. The last named. indeed, was excep-
tionany weak. and fully satisfactory eN-
plantations for its particular course were not
available
The report of the interstate commerce
commission upon the general conditions in
the bitllInippus coal trade could hardly be
instanced in connection with the dealings In
the Industrial and miscellaneous issues.
which exhibited, however. the same tenden-
cies which Were apparent in the railway
list The United States Steel stocks showed
renewed pressure. Amalgamated Copper
was decidedly weak, although sales of cop
per metal were reported as high as 70 cents
pound and there was a violent downward
plunge in Virginia coal. coke and iron. Else
where in this group declines of one point
and ever We're common. The local traction
sha res were also heavy.
TherpEeiminary estimates of the princi-
pal movements in currency during the week
pointed to a gain by the banks of something
under ST, 100000 of which about TO per cent
was derived through their operations with
the subtreasury.s The banks gain in cash
this week stands out In strong contrast
with that reported for the same period of
last week. and should there be further
large exr,a nsfon of the loan account there
would not be much left for the augmenta-
ton of surplus resources.