The morning journal-courier., 1908-01-30

' ttlppi OuSli N'iSSA
 were heard.
 In general way, the December quarterly report of the United States I Steel Corporation was not badly re- ceived. but the trading element saw 1 nothing in it to make one want to buy the stock until the trade outlook is clearer. If it is rule to sell on good news. some of them asked why they should not buy on bad news. Before the end of the first hour good deal of United States Steel common appeared on the tape at receding prices, and it became tolerably clear that an effort { was being made to break it. When, finally it touched 2S, a decline of a point from yesterdays closing price, 1t disturbed the entire list, and the mar ket was very weak midway in the af- ternoon Some of the extreme declines at that time from early top prices were 2 or 1-2 points.
 The December earnings of s5,032 00( were about the only part of the Steel statement that the speculative element ! considered. It has been known that the i present month earnings are even small 1 CT, though not so bad as those in Jan ,lary four years ago, when they fell to s2,S6S,213. With the prospects of pay ing the next common dividend out of surplus Wall street predicted lower prices for the stock. The covering across S1 and the distribution of in- side stock around 30 has made the market rather soft.
 Specialties were exceedingly cratic some being firm, others weak, for particular reasons. Utah Copper rose sharply on the establishment of rela- tions with the American Smelling company for refining the formers output. Railway Steel Springs broke 5 points, and the common was weak on rumors affecting the dividends Few persons paid any attention tc such movements, realizing that poo operations often explain the move ments
 Some interest was caused by the of. fering for sale at public auction yes terday of several small lots of stock of the Carnegie Trust company az gregating nearly 900 shares.
 On February the banks will re sume publication of their individua statements. The clearing house au thorities are determined to weed ou all weak spots, if any remain, and ex ercise in future more rigorous super vision. Said a well known clearin, house banker on this point. "Nev York banking is different now iron what it was before the panic. Ther, are no weak chains or entangling al dances to contend with now What ever remains that is at all objection able will be remedied without delay The banks are in good shape, and WI intend that they shall stay so. Tn days in loose banking in New York ar, past We shall have no more of it."
 Houses with Washington connec tions were discussing the message O the president to congress tomorrow It is claimed that in it he will reply [, MT Choate's challenge to give tn, names of the indicators who hav distorted the country's laws As market influences however, 1t is ex pected to pass unnoticed.
 Prices were down in London bu they rallied after the opening here and arbitrage houses bought Is .0O shares on balance They took Stee and Reading The feature of the for eign market was the advance in con sols, which have gone up nearly
 points recently. It is said that thi represents buying by the British pub lie. who are afraid to put their fund Into rails or industrials