Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-01-09
Prices Moved Upward in To-
days Transactions.
READING WAS FEATURE
Extensive Advances With Some OF
the Anthracites.
|
OTHER STOCKS AFFECTED
OTHER STOCKS AZTEC.
Many Substantial Gains Scored IN
Railways and the Industrials.
Little for Foreign Account.

Special Dispatch TO The Star.
NEW YORK January 9-An upward
movement in prices which began In ana
was for a time confined to Reading ana
the other anthracite coal shares extended
gradually with the course of the morning
to the stock market at large. Reading
was easily the leading feature of the
days dealing although some of the hlgher
priced anthracite stocks made more extern
sive advances 1t was Ttasonably as
sumed that the common upward move
ment in these securities had some common
foundation. although the conjectures in
this respect did not take a very definite
form.
1t was noticeable also that the btu
minous coal shares participated only
10 a small extent in the strength OF
the anthracite stocks. 1t seems nardly
possible that any substantial modifica-
lions can he made in the Hepburn act
between this time and May l, although
some steps in that direction might per-
haps be regarded as the most logicai
explanation of the recent extraordinary
advance in the prices OF the ahehrdciee
coal issues.
For a considerable period of the fore
noon Reading alone furnished an eH,
ceedingly large proportion or .he totai
the market broadened materially, ana
the trading reflected greatly increased
activity and a better Distribution OF
speculative interest. In the railway
list there were substantial advances IN
Baltimore and Ohio. New York central.
Pennsylvania, st. Paul, Northern ia,
cific, Great Northern preferred ana
Union and Southern PACING.
The other departments OF the inarke.
moved I'D along with the railway list and
in the industrial division there were SUD
stantial gains scored in Amalgamated
Copper. corn products, American sn.eit
ing and sugar refining The United states
steel shares were likewise steady. and not
understanding the present depression in the
steel industry competent authorizes In
the trade are looking for and predlctlhg
return to normal conditions much carrier
than it is generally expected
Improved Money Market.
1t could scarcely be said that the trans
actions in any of the large number OF
stocks mentioned were accompanied by
any actual developments. Nearly all OF
the gossip current was concerned with
little more han the identities of the
largest buyers or sellers of the one stock
or another In fact, the continued better
ment in the monetary situation at large
might we'll be named as accounting suff1-
GENTLY for the course of the market for
securities.
The weekly statement of the Bank of
England made a very strong showing
but no reduction was made in the banks
minimum discount rate. That circum-
stance as\regarded as disappointing in
the London stock market, which was
generally heavy. although prices raj
lied there toward the close of the busi-
ness session.
Little was done here for foreign ac-
count In contrast with the rigid at
titude of the Bank of England. the
Bank of FRANCE today reduced its dis
rate to 81 from 4 per cent, at
WNrf. figure Vt has been in effect since
then aAy part of November. The Ger
maArAank rate was left unchanged. In
the Meal money market the lncre easing
suppli&s of funds were accompanied by
atfurAher relaxation in rates for all