Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-01-31
Today's Transactions Were in
Rather Light Volume.
A VERY FAIR DISTRIBUTION
Prices Actually Advanced Despite
Unpleasant Issues.
LONDON GENERALLY HEAVY
Small Number Of Stocks Furnished
Large Proportion of Days Total
Dealings-U. S. Steel Strong.
A VERY FAIR DISTRIBUTION
LONDON GENERALLY HEAVY
Speeial Dispatch to The Star

Special Dispatch to The Star
NEW YORK. January 3l.-The stock
market received the general developme ants
Of the day with remarkable composurc
At the opening Of business 1t became
known that one other bank, a member OF
the Clearing House Association. had
closed its doors. and while this intelli-
gence was not unexpected. it was none
the less unpleasant. being tho fourth
business casualty of this respect since
the opening OF the week. Shortly after
midday the text of the Presidents mes
sage to Congress was published. and
prices actually advanced in the face OF
that striking and characteristic fulmina-
ton from the White House. Consequent
~ j: was very difficult to align cause and
effect in the days transactions in securi-
ties
The London stock market was gener-.
ais heavy, including the American de-
partmo.t, but little or nothing was
done here Cor foreign account
Aside from the bank suspension and
the weil-fulfilled expectation with re-
Sard to the Presidents message there
were no developments Of consequence
with tho course OF the day. Forecasts
of the weekly bank statement indicated
somewhat less favorable exhibit than
those of the past two months but this
prospect apparently played no part in
shaping speculative sentiment.
Money Market Firm.
Money market circumstances contin-
ued relatively firm in contrast with re-
cent conditions but no moro SO than
was to be expected in view of the close
of the month and the further return by
the banks Of the treasury deposits.
Transactions in the stock market were
again conducted in rather light volume,
but Il fair distribution of interest was
apparent
The bond market was relatively active
and again somewhat reactionary pre-
sumAbly In connection with the forthcem
ing offering Of the new city loan. The
outstanding AZ per cents were naturally
specifically affected.
Although as noted there was fair
distribution Of interest evident 1t was
still the case that a small number Of
stocks furnished a large proportion of
The days total transactions Those were
notably Reading. Union Pacific. An,alga
mated Copper and United States Steel
common. These issues were generally
firm. while q number of the less active
stocks showed more or less extensive de-
ciines.
Market Very Irregular.
Aside from such routine matters as
statements of earnings and dividend an
nouncements there was no specific news
or novel gossip bearing upon the trans
actions in one stock or another.
As the day wore on the markekt devel-
cped q greater degree of irregularity and
seemingly more concern was 1elt as to
some of the more extreme suggestions In
Mr.. Roosevelt's message to Congress.
The particular strength of the United
States Steel stocks was in a measure
counted for by reports that reassuring
statements with regard to trade conditions
would be issued after today's conferences.
american Smelling Vas also particularly
strong.