Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-21
LOWER PRICES TODAY
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: Hartman Stocks Under Heavy
Selling Pressure.
:
UNSETTLED THE MARKET
Numerous Declines Up to and Ex-
ceeding Two Points.
INTEREST WELL DIVERSIFIED
Notable Increase in Volume of
Transactions-Trac Showed
Marked Resistance.
INTEREST WELL DIVERSIFIED
Special Dispatch to The Star

:. Special Dispatch to The Star.
= NEW YORK, December 21.-The most
direct. if not altogether satisfactory, ex-
PLANTATION of the declines which were re-
corded in todays stock market might be
,cited in the circulation of persistent re-
ports relating to the state of health of
The chief figure in the Union Pacific sys-
Item. According to the most trustworthy
information. the rumors in this regard
were altogether exaggerated, although it
was admitted that the individual in ques-
ton was more or less indisposed.
Nlch less attention would have been
accorded these statements had it not been
!for the urgent and exceedingly heavy sell
Ing of practically all the stocks identi-
fled with the Hartman interests. The re-
stilting declines in Union Pacific Southern
Pacific and Illinois Central served at any
rate thoroughly to unsettle the remainder
of the railway share list, in which quarter
'of the market numerous declines amount
ing to and exceeding two full points were
scored
The industrial and miscellaneous shares
We're also generally heavy. but on the
whole showed much less pressure than
was evident in the railway groups.
In the early part of the session the
local traction shares were exceptionally
strong and even bu0yant, but they re-
ceded later in sympathy with the gen.
eral market. There was a very great
INC, ease In the volume of the transac--
mons In comparison with Fridays and
Thursdays totals. and also wide d.
Nersif1cation in interest.
Counter to Downward Drift.
A small number of railroad stocks
showed pronounced disposition to move
counter to the general drift of prices.
nv
Wabash shares, Western Maryland and
Chesapeake and Ohio. So also in the
miscellaneous group. American Smelling.
which was the leading feature in last
weeks decline, was eXcellently supported.
!. The Supreme Court at Washington adj
burned today for tine holiday recess with
,0i't handing down any decision in the
consolidated Gas case, and that stock ac-
ccrdingIy broke quite sharply.
= The United States Steel shares were
heavily dealt in and declined along with
the market at large, although not to
noteworthy extent. In that instance the
selling movement was ostensibly based
upon the appearance today of Mr.. Andrew
Carnegie before the ways and means COM
mittee in the tariff revision hearing
Such degree of resistance as was shown
by the traction shares to the declining
tendency Of the market was again attrib-
uted to the progress making In the plans
for the Reorganization of the Manhattan
however, was equally strong as the In
;terborough Metropolitan issues.
= - & Wabash Issues Strong.
Aside from the rumors with regard to
Mr., Harriman's. health there was little
TO be adduced in connection with the
course of the railway share list. The
exceptional strength Of the Wabash is
sues was accompanied by rather ques-
property was being acquired in the in
terests Of Delaware, Lackawanna and
Western.
The London stock market. including the
American department. was Irregular but
during the forenoon foreign houses We're
quite heavy buyers here. some estimates
OF their purchases running as high as
$4,000 shares.
The foreign exchange market was. how
ever. quite unaffected by these transac-
tions. and was. i'm fact, distinctly strong
Money market circumstances varied but
little from those prevailing toward the
close of the last week.