Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-07
professionals BUSY
Trading on Change Today
Takes New Turn.
BUSINESS VOLUME LESS
Irregular Tendencies of Last Week
Renewed Today.
SPECIALTIES ARE FAVORED
Some Extensive Railway Movements.
! BUSINESS VOLUME LESS
SPECIALTIES ARE FAVORED
Some Extensive Railway Movements.
Americans Heavy in London.
Consol. Gas a Feature.
Special Dispatch to The Star.

Special Dispatch to The Star
NEW YORK, December THE irreg-
ular tendencies which characterized stock
market movements throughout last week
were continued in today's transactions
The volume of business was considerably
reduced In comparison with recent aver
ages of activity and the trading was OF
q more professional character than has
been the case of late. There was nothing
at all in the developments over Sunday
calculated to shape speculative sentiment
strongly In one direction or another.
Perhaps the most important news with
the course of the business session was the
publication of the government report upon
the condition Of the winter wheat crop.
and the figures showed, as had been ex-
pected. sharp reduction from those set
forth at the corresponding period of last
year.
The grain market was. however. but
little affected by the showing made In
the government report and the stock
market In consequence perhaps wholly
ignored the exhibit.
American shares were heavy In the
London market in common with the
lions here for foreign account showed
triAing results on balance.
Proht-Realizing Sales Over.
Extensive movements in prices in the
stock market were for the most part
confined to the so-called specialties. Still.
the standard issues and the stocks which
were the leaders in the advance previous
to and Immediately after the elections
were very firm today, and the dealings
In those issues suggested to many OBJ
servers that the profit-taking sales In
that quarter had about been concluded.
Reading, Union Pacific and Southern
Pacific were today decidedly strong and
active. The most extensive movements
in the railway list took place in the
Colorado Southern shares, the Wabash
stocks and Wisconsin Central preferred.
The further advance, In the last named
was reasonably based upon the. declara-
ton OF an initial dividend OF per cent
Tor the year on the preferred stock, pay
able In four quarterly installments.
Local fractions Firm and Active.
Tho local traction securities were all
firm and active. Consolidated Gas was
perhaps the most striking feature of the
Industrial and miscellaneous group. and
the stock nuctuated widely. In the early
part Of the day it scored an advance of
over three points above its closing figures
OF Saturday. and rumOrS we're then cur
rent that the Supreme Court at Wash
ingtoa- would render q decision today, in
the eishty-eent gas case. These reports
were shown to be unfounded early In the
afternoon. and the; stock lost the greater
part Of its early rise. -e.,-;s
The United States Steel shares were
dealt In upon. q fairly large scale and
were steady. Amalgamated Copper and
American Smelling were depressed at the
outset of the dealings because Of the gov
ernment's investigation of the complaints
made against the alleged nuisances Of the
physical operation Of those properties
but they. too, rallied with the course OF
the business session.
Pacific Mail was firm on predictions
that the President In his message to Con-
gress would strongly advocate the enact
ment Of q shipping subsidy measure.
The rates for loans on call averaged
somewhat below last weeks mean figures
and little, alteration was noted in the cir
cumstances OF the foreign exchange mar
ket- The heavy oversubscription to the
new Panama canal loan was naturally
favorably received az attesting to the con-
tinued stability In the investment market.