Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-12-01
S1eadier Tendencies Followed
an Irregular Opening.
ROCK ISLAND THE FEATURE
Rise In All Its Issues Striking Move.
ment of the Day.
SOME HIGHER PRICE LEVELS
Early Pressure on 1ndustrials and
Miscellaneous Shares Gave Place
Later to Vigorous Activity.
ROCK ISLAND THE FEATURE
SOME HIGHER PRICE LEVELS
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. December There were
numerous features of particular interest
in today's stock market although the
transactions In their entirety still exhibit
ed quite irregular tendencies. This was
particularly true OF the trading In the
early part Of the business session. Toward
midday the especial strength displayed by
number OF stocks was communicated to
the market at large. which developed
steadier tendencies than those previously
exhibited
Perhaps the most striking movement in
the days market was the rise in all of
the Rock Island issues. which was ac-
companied by a lively advance in the out
standing ST. Louis and San Francisco
shares Rock Island preferred rose to a
new high figure on the current move
ment and the Rock Island railway 5 per
cent bonds were notably strong
The movement in this quarter In the
light Of the direction in which the recent
st. Louis and San Francisco financing
was accomplished. coupled with the
that the Rock Island Company was will
ing and would undertake to transfer the
control Of the Frisco property to the
Union Pacific Company. thus giving the
latter the use Of the extensive Chicago
terminals OF the Chicago and Eastern
Illinois railroad
The railway share list showed a number
OF other extensive movements toward
higher levels at one time OF another dur
ing the business session. Cases In point
were Wisconsin Central preferred st
Paul and all OF the so-called Gould stocks
pennsylvania was comparatively heavy,
being affected unfavorably by the threat
ened strike of the locomotive engineers OF
the lines west of Pittsburg.
Coal Shares Weak.
The anthracite and bituminous coal
shares were likewise comparatively weak
with some rather premature discussion Of
the prospects OF labor troubles in April.
when the agreement between the coal
roads and the operatives expires A larRe
number Of statements Of earnings of i'm
portant railway systems were published
during the day, but the figures furnished
no particular surprises.
In the early part Of the day the transact
tons In the Industrial and miscellaneous
shares indicated a good deal Of pressure
on one account or another, particularly In
United States Steel common, American
Smelling and Amalgamated Copper; but
these stocks subsequently enjoyed . Wig
orous rally. Transactions in United States
There were wide fluctuations in Consol-
idated Gas. but that stock recovered q
goodly proportion Of its recent decline,
which was based upon the disappoint-
ment that the Supreme Court at Wash
1ngton had deferred its decision in the
sO-cent gas case.
London q Small Factor,
A better understanding Of the real char
acter Of yesterdays Supreme Court rul-
ing In the case Of the Virginia 2-cent-fars
bill led to greater animation IN the S.
curities OF the companies directly and In
directly affected.
London was factor OF little importance
In the local dealings ettnae Ia respect OF
the quotations forwarded from the mar.
ket there for American stocks pr the
subsequent operations In the local market.
which were limited to the sale Of about
10000 shares.
The local money market was more
active and hrmer than for some weeks
past. and rates for sterling exchange
rose to Q figure virtually assuring ship
ments Of gold to Europe Thursday next.
1t was considered likely today that the
exports Of the metal then undertaken
would consume the whole amount OF the
gold bars In the keeping of the assay
Office, amounting to between 5000 600
and 100000. The outlook Tor gold ship
ments did not appear, however, to cut any
figure whatever In the tendencies OF the
stock market.