Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-18
Good Tone Followed a Very
Irregular Opening.
FEW EXTENSIVE ADVANCES
Sequel to a Few Railway Dividend
Announcements.
SLIGHT VOLUME OF BUSINESS
Americans Firm in London-Deal-
ings Still on Unimportant Scale
Call Loan Rates Lower.
FEW EXTENSIVE ADVANCES
SLIGHT VOLUME OF BUSINESS
Special Dispatch 10 The Star.

Special Dispatch 10 The Star.
NEW YORK. December 1s.-After an
carly period of very irregular movements
in prices, the stock market developed
firm tone and many securities MADE eX-
tansivs advances. Soon after the open
ing of business announcement was mace
of the declaration of the usual quarter
" dividend of ~ per cent on Ne" 1ork
Central, which action had been foresnao-
owed in the higher dividends declared yes
tcrday on the Lake Shore and Michigan
Central stocks.
Early in the afternoon 1t was further
announced that the Pennsylvania COM
pany, In addition to its regular per
cent semi-annual rate, had declared an
extra dividend of per cent. This action
was regarded as significant, although the
next dividend on Pennsylvania railroad
stock will not be acted upon until next
May.
Other dividend announcements furnished
the most important news there was dur
ing the day relating to individual securi-
ties, As had been expected. action on the
dividend on the New York Air Brake was
deferred and Enthusiastically the stock
rallied smartly on this intelligence.
No Increase in Business.
AS was the Ase yesterday, such
to be due chiefly to purchases based upon
considerations with regard to the pro-
tracted and unbroken decline in the mar
ket during the last nine business days
There was no material increase in the
business of commission houses and no
great increase in the general volume of
business.
Aside, also. from the fact that the rally
in prices was better sustained than was
rlNe Nacs low ktrnrn NJ alf
ton to be observed in the general ten
dency of the market. Previous to the ap-
pearance of the upward reaction, a num-
her of stocks had suffered declines of from
one to two points, noteworthy cases being
New York Central, Missouri Pacific, Anal
gamated Copper and Sugar Refining.
Anaconda Mining was comparatively
heavy on small transactions. the course of
that stock being Influenced by the ex-
pectations that the directors will make
some change In the dividend at their next
meeting, which is scheduled for next
Tuesday.
Rise in Distilleries.
The authoritative statement that a re-
duction in the dividend on Distillers' Sc
curities must be expected was succeeded
by a rise of about points in tina stock.
Apart from these dividend considera-
tions there was little or nothing other
than OF technical character to be elected
from the transactions in one stock or an
other.
American shares were comparatively
firm in the Londop market, but the deal
ings here for foreign account remained
upon the same uninlportant scale as has
been the case fer many days past.
The rates for loans on call averaged
somewhat below yesterdays mean levels,
but, on the other hand, a considerably
larger business was transacted in cur
fencY and at higher premiums.
In sTNk-of the reaE tionary tendency of
the foragn EXCHANGE market additional
sums of ES1d were1 withdrawn from the
Bank Of England for shipment to New
York