Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-01-08
Most of Today'S Movements
Toward Lower Levels.
RAIL WAYS MAIN ATTENTION
Northern Pacific and Chicago Great
Western Discussed.
SOME EXTENSIVE DECLINES
Industrials and Miscellaneous Were
Also Notably Veterinarians
Heavy in London.
RAILWAYS MAIN ATTENTION
SOME EXTENSIVE DECLINE!
SneciaI pisnatch TO The Star.

Special Dispatch to The Star.
NEW YORK, January S.-Most of the
more pronounced movements IN prices IN
today's stock market were toward lower
levels. For this state of thiLgs there was
no definite explanation CT general impor-
tapcc. In the early part of the afternoon
announcement was made of the deciara-
ton of the usual quarterly dividend on
Northern Pacific. which disposed Tor the
time being at any rate. of the persistent
rumors which have been in circulation
that the directors of the company had IN
contemplation the declaration OF some
extra or special rate.
There was much disappointment in spec
ulative circles with regard to the actioh
OF the Northern Pacific management, ana
that stock dropped more than -FOUR points
from the high figures of TIE morning.
There were limitations yesterday 'hat
the directors were by no means or one
mind upon the question of declaring an
extra dividend, and in view Oh an lne
circumstances of the situation at large
today's decision would seem TO De Wise
and proper conclusion.
While guesswork with regard to the ac-
ton OF the Northern Pacific management
was going on. advices were being received
from London setting forth the practlcai
failure of the negotiations for financial
assistance by another road in the same
general territory, namely, the Chicago ano
Great Western.
Chicago and Great Westerns Case.
These advices set forth the strong prob
ability that the Chicago and Great west
ern would have temporary recourse to the
protection of the courts pending the car
rying out of comprehensive financial ar
rangements for the re-establishment or tht
credit of the company. 1t is understood
that the plans in question contemplate tne
issue of large amounts OF ponos WIZ
fixed stipulation as to interest, as well as
principal.
II was presumably the embarrassment o
the Chicago and Great Western Company
which led to pronounced weakness In {
number of the other lower-priced railway
stocks. Extensive declines Were scored in
the Erie issues, the Southern Railway
stocks Missouri, Kansas and Texas, and
Atchison.
There were. however, few exceptions of
any significance to the general course OF
the market.
Declined in Common With Others.
The industrial and miscellaneous stocks
declined in common with the other de-
partments of the market. Sugar Rein
ing was again notably heavy, doubtless
because of the controversies and issues
raised at todays annual meeting of the
shareholders American Smelling and
the United States Steel shares were rela-
lively firm. aud it was matter of some
comment that United States Steel pre-
ferred commanded premium for its use
in the loan market.
American stocks were heavy in the
London stock market in common with the
other departments, but operations here
for foreign account continued upon an in
considerable scale.
Little alteration was noted in money
market conditions or in other fundamental
-S~~>sfsSs of the situation at large.