Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-12-09
Prices Were Unsettled and IT.
regular Today.
FEW STRIKING MOVEMENTS
Some Extensive Losses Scored After
the Opening.
A FURRY IN MONEY RATES
Wide Swings in Railway List-Dis-
turbing Declines Among In
dustrials.
FEW STRIKING MOVEMENTS
A FURRY IN MONEY RATES
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, December Sit was ap-
parently the case that the very pro-
nounced weakness exhibited today by a
number of the Industrial and miscel-
laneous issues was the chief influence in
the irregular and somewhat settled ten
denotes Of the stock market at large.
The losses which were scored by several
of the stocks in question were so extern
sive, indeed. as to suggest either an early
reduction in their rates of dividend or
considerable embarrassment on the part
of speculative holders of those issues.
The most striking movements in that
quarter of the market were Western
Union. Distillers Securities. American
Smelling Amalgamated Copper and Ana
conda mining.
1t would obviously be somewhat prema-
ture to discuss the outlook for the next
dividend on American Smelling, but in
each of the other cases named predictions
were freely ventured of reductions from
the current rates of dividend. So far as
the copper stocks are concerned. their
market position was naturally impaired
by the intelligence that with practically a
single exception all of the constituent con-
Germs Of the Amalgamated Company
would be closed down indefinitely.
Some Specially Weak Stocks.
Talk of various descriptions accompa-
MED the special weakness in Distillers Sc
curities. The dividend on that stock will
be acted upon during the present month,
but it was suspected that the break in the
stock was caused as much by enforced
liquidation as by any other factor. The
dividend on Western Union will be fixed
so early that there Is at least little re-
manning room for doubt In that particular
case While the United States Steel shares
declined in sympathy with the remainder
of the Industrial stocks, those Issues
showed a fairly good degree OF support
The railway share list displayed some
exceedingly wide swings In prices, but
the general tone of that department of
the market might be described as fairly
steady considering the unsettlement In
the industrial issues. ST. Paul covered
a particularly wide range OF fluctuations.
as did Union and Southern Pacific, the
Hills stocks and Reading.
Slight Advance in Currency Prem
iums.
Brooklyn Rapid Transit exhibited early
pronounced strength and later a fair de-
gree Of support, while the 4 per cent con-
vertible bonds on the other hand were
decidedly heavy.
In addition to the disturbing declines
in the industrial group, the general stock
market had to contend with a mild furry
In the rates for money on call and
slight advance in the premium on cur
rency. Neither of the two last named
circumstances were satisfactorily ex-
planned. The gold laid down in the open
London market today upward of 81, OO0. 600
was secured for shipment to New York.
The London stock market was dull and
generally heavy and American stocks
were quoted there well below parity. with
New York's closing figures of Saturday.
Operations here for foreign account
showed a considerable excess of sales
The various statements of railway earn
ings now coming to hand. including those
submitted today were naturally not CAL
culated to furnish much encouragement
In the generally depressed state of senti-
ment.