Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-22
TAKEAN UPWARD TURN
Prices Rule Exceedingly Firm
in Today's Dealings.
LESS VOLUME OF BUSINESS
Local fractions Notably Conspicuous
in Advance.
RAILWAY sPECIALTIES FIGURE
London Factor of Small Impor-
tance in Days Transactions.
Wabash Issues Also Strong.
LESS VOLUME OF BUSINESS
RAILWAY sPECIALTIES FIGURE
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, December Con some
what reduced volume of business today S
stock market ruled exceedingly firm
through the greater part of the business
session. Whatever may have been the
reasons for yesterdays rather violent re-
action, they were not clearly reviewed
In the news of the morning, and it was
plain from the course of prices today that
operations for the short account had been
conducted then in equal volume with the
actual liquidation. In the opening deal
)nsS very uncertain tendencies prevailed,
but as the morning progressed much
ffrmer tone developed In all quarters of
the market
All the local traction shares were no.
tabiy conspicuous in the advance, with ex-
ceptional strength showing in Brooklyn
Rapid Transit and the ELECTROMAGNETIC
ropolitan issues.
In the industrial and miscellaneous
group American Smelling and Amalga-
mated Copper again fluctuated very wide
ly, but the United States Steel shares ap-
peared to be quite unaffected by Mr.. Car
negie's testimony before the ways and
means committee yesterday. Other strong
features In that department of the market
were Peoples Gas and Consolidated Gas.
Extensive Movements.
Most of the more extensive movements
in the railway list took place In that
class of stocks commonly referred to as
the specialties. Cases in point were the
Missouri. Kansas and Texas issues, Chi
caso and Alton. the preferred stocks of
the Colorado Southern Company and the
Chesapeake and Ohio
Inc Missouri. Kansas and Texas stocks
were so conspicuous in the DAYS trans
ACTIONS as to lead to runors that the con-
trol or the property was In process of
transfer along similar lines to thosS
followed In the acquisitions of the Colo.
rado and Southern by the Chicago, Bur
nngton and Quincy. The Chica.o. Mil.
waukee and ST. Paul Company was gen
orally referred to in these reports as the
most probable buyer of the Kensas and
Texas properties.
The Wabash issues were again notably
stIong, with no real news or gossip of
interest accompanying their course. and
western Maryland made a further adj
vance.
Features Of Railway List.
Other very strong features of the rail-
way list were New York Central, the
Hill stocks. Southern Pacific, Union Pa
ctfc and Mexican Central.
London was a factor Of small impor-
lance in the days transactions in the
local market. The quotations forwarded
rom thdt point for American shares
showed small and irregular changes. and
very little was done here for foreign ac-
count ~
Money market circumstances showed lit
ne alteration, although this mornings fig
ures disclosed q loss to the banks in tbeir
operations with the subtreasury since last
Friday OF nearly 5000 600
Sterling exchange was again very firm.
and small additional sum Of gold was
engaged for export in the assay Office.
The several circumstances referred 10
could scarcely be mentioned as accounting
with any directness for the course Of
the days stock market. which, indeed an
peared to represent little more than a re-
adjustment of the technical conditions pro-
duced by yesterdays rather sensational
movements.