Evening star., 1908-02-04
Third Day of Falling Prices on
'Change Today.
RALLY FOR SOME STOCKS
Betterment in Rock Island Securi-
ties Helped Tone.
RAILWAY STATEMENTS POOR
Dealings Conducted on a Very Re-
stricted Scale-Reading the
Feature of the Active Ones.
RALLY FOR SOME STOCKS
RAILWAY STATEMENTS POOR
Spe-ia, Dispatch to The Star.

Spe"iai Dispatch TO The star
NEW YORK February 4.-Yesterday
was the third consecutive day of falling
prices. a circums tance which In stock
market possessing the general character
istics of the prevailing one was enough
of itself practically to make certain some
measure of recovery. Accordingly, the
rally in prices which set In toward the
close of business yesterday was resumed
this morning and made irregular progress
with the course of the day.
The tone of todays market was ma
terially helped by the rally in a number o.
securities which were sufficiently weak IN
the preceding business session to act
as depressing factor upon the market at
large This was particularly true Of the
Rock Island and Interborough Metropoli-
tan issues all of which enjoyed substan-
tial recoveries.
The betterment in the Rock Island Sc
curities was accompanied by what must
be accepted as authoritative declarations
that there is no warrant whatever for
the rumors recently in circulation relating
to tho affairs of the property. 1t was also
stated that the new financial plans of the
Interborough Rapid Transit Company had
progressed to 4 point where their sue
cess Is assured.
Railway Statements Not Flattering
Included in the days routine news
were large number of statements of rail-
way earnings, which included the returns
of the Pennsylvania lines for the month
Of December. The showing made was
poor enough, the net earnings of the lines
east of Pittsburg showing a decrease of
% per cent, but even this exhibit seemed
to be regarded as somewhat better than
had been commonly expecaed. At all
events Pennsylvania advanced in common
with the railway list and the other quar-
ters % the stock market
The dealings were conducted upon
very restricted scale during the greater
part of the day. both IN the bond and
stock markets, although there were re-
current and spasmodic fits of comparative
activity. The bond market participated
in the bettering tendencies displayed by
the share list.
Reading was easily the leader of the
market In respect of animation. Other
firm features were st. Paul. Northern
Union Pacific. In all of these cases, and
this was true of the dealing In general
a marked scarcity of offerings was re-
ported.
United States Steel Strong.
The United States Steel stocks were ex-
ceptionally strong. but, reversing the Or
der of things observed yesterday. the IN
dustriai and miscellaneous Issues today
were. generally speaking. relatively heavy
in comparison with the tone exhibited by
the railway list.
a very sharp rise took place in the grain
market on crop reports which would ap-
pear to be altogether premature. and the
movement in that direction had no per-
eeptible influence in the dealings in Sc
curities
Money market conditions in general
showed no material alteration.
The London stock market was narrow
and irregular. but the striking upward
movement in consols was continued OPP
erations here for foreign account were in
very light volume and on both sides of
the market.