Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-02-17
Many of the Leaders Dropped
During Early Hours.
IRREGULAR RALLY LATER
Few of the Earlier Declines Were
Regsined.
MONEY MARKET UNCHANGED
London Heavy in All Quarters.
Sharp Decline in Bond
Department.
IRREGULAR RALLY LATER
MONEY MARKET UNCHANGED

Special Dispatch 10 The Star.
NEW YORK, February 11.-During
The forenoon session upon the stock
exchange today many of the more
active issues in the various quarters of
the stock market fell from one to two
points below Saturdays closing figures.
After midday an Irregular sort Of rally
occurred but in only few instances were
the earlier declines fully regained.
Throughout the day the market was
almost wholly wanting in any other sup
port than that represented by the cover
ing Of short contracts. and continuous II
not particularly heavy liquidation was
observed. 1t could not be said with truth
that any novel developments of great
Importance were presented for considera-
lion at the opening of business. but the
cumulative effect Of last weeks unfavor-
able occurrences led to the fresh liquida-
ton mentioned.
The days discussion was taken up with
such matters as the various legal proceed
ings contemplated against the Southern
Pacific company, the peculiarly compi'-
Gated political outlook and misgfvings
with regard to the diplomatic situation.
not only so far as this country Is con-
cerned. but also in respect OF the strained
state Of affairs in eastern Europe
London Market Heavy.
The London stock market was heavy
in all quarters including the American
department and foreign houses were fair
" liberal sellers in the local dealings
Mon-y market circumstances showed no
essential alterations. The days news re-
latink TO particular stock was confined to
statements of earnings and dividend an
nouncenents. Action on the dividend on
preferred stock of the National Rail-
roads Of Mexico was postponed.
The Standard Oil Company declared a
quarterly dividend of $l5 share, the
same rate which has been paid at the
corresponding period for the past three
years. The usual monthly statement OF
the country's foreign trade was made
public from Washington this morning
Total imports for January showed a fall
ing away OF about 81 100000 in COMPARE
son with last years figures. while our
exports of merchandise Increased $1,000
COO.
since the opening of the fiscal year an
excess OF exports or $431 ,0Oo.O 600 is re-
ported against an excess last year or
about $500. m.000 The excess of fmpor-
fations Of gold in the same period was
set forth at $4,000. 600, against $7SO0o.-
600 in the corresponding period of last
year.
Bond Market Decidedly Heavy.
This bond market was decidedly heavy
In common with the stock market, and
o partfeuisrIy sharp decline took place
In the interborough Metropolitan ~
per cent bonds. The New York city AZ
per cents were also reactionary.
fhs most extensive declines In the in
Gaustrial group were in American smelling
and AmAlgamated copper. the last named
ruffering particularly on account of
further reduction In the selling prices for
the metal.
Tho United States Steel shares were
comparatiyely steady. Except In the In
stance OF Southern Pacific, there was hit
fle other than a discussion Of technical
character attaching to the transactions In
she rs1lwnv Nst. Reading and Union Pa
aific occupied their usual place as the
Hedihe features in respect of activity.