Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-12-17
MODERATE TRADING
Today's Stock Gains Largely
in Small Fractions.
IRREGULARlTY GENERAL
Industrials Less Uniformly Firm
Than Railways.
B. & O. NOTABLY AGGRESSIVE
London Among the Buyers Again.
U. s. Steel Among the Strong
Features-Prices Firm.
B. & O. NOTABLY AGGRESSIVE

Special Dispatch to The Star.
NEW YORK, December 17.-Stock mar
ket-wise news was at a minimum today.
Developments of market-wise Importance
outside the four walls of the stock ex-
change were Of a routine character, and
were comprised chiefly in the items of
intelligence relating to the money situa-
ton Railroad returns were extremely
scanty In number. The Wabash reported
an increase In gross earnings amounting
to $4,000 for the second week of this
month. The money market showed no
change in tone nor price. Call money
ruled at Az to 5 per cent. Foreign ex-
change was firm at slight advance
New York exchange at Chicago sold at
10 cents premium, against 35 to 40 cents
a week ago. and very likely will go to
discount next week
Compilations Of the money movement in
Dictated a substantial cash gain by the
local banks during the week. but how
ever. much the banking position here
may improve in respect to cash holdings
In the near future, there is little or no
doubt that the local market will have to
furnish a material quantity of gold for
South America. the movement of the
metal to which continues with further en-
9agements for next week announced this
afternoon.
Rock Island Under Pressure.
Left to itself. the stock market did
pretty well in the way of rumor and re-
port of gossip and conjecture. Because
the Rock Island securities were rather
heavy under pressure there was a lot of
talk about the dissensions in the Rock
Island party. There was also some indi-
cation that the terms of the recent sale
Of the st. Louis and San Francisco were
not as favorable to the Rock Island in
terest as had been supposed.
A. the same time it Is Wall streets way
to seek for specific reasons for price
movements of stocks which usually re-
quire no other than the commonplace ex-
PLANTATION which the stock market itself
The Rock Island securities advanced
very strongly in the early part of the
week. and no matter how much selling
tial reaction thereafter could only be
regarded as wholly In accordance with
the stock market experience.
On the other hand because Southern
Pacific and the Union Pacific issues dis
played Increased strength or frmness,
Wall street heard lot of talk today
about per cent dividend on the first
named stock and a beneficial distribu-
ton of segregated assets on the other.
Absorption for Investment.
That these mooted disbursements may
be made is within the category of pos
sibility. but 1t may be that the present
strength of the so-called Hartman issues
IL the result OF antecedent and perhaps
continuing absorption for investment or
at least Quasf-inveStment account.
That the stock market at the present level
presents investment opportunities when
both immediate yield and prospective re-
f,o hit
Wall street is too apt to lose sight of, but
which cannot be gainsaid. For the other
price movements of the day the ex-
PLANTATION was too obvious or too little
obvious to recall for notice here.
Louisville and Nashville appeared not to
have discounted per cent Dividend.
and the declaration of the increased rate
upon 1t was responsible for the rapidity
it's own dividend. and for the spectacular
advance in the Atlantic Coast Lines col
lateral trust bonds secured by Louisville
and Nashville stock.
Strong Features.
United States Steel. Peoples Gas. Unit
ed States Rubber. Utah Copper and In
ternational Harvester were particularly
strong features of the industrial quarter.
but industrials as a whole were more ir-
regular or rather less uniformly firm
than the railroad shares.
Besides the stocks mentioned, more ag-
gressive strength was displayed by Bal
timore and Ohio than it had manifested
for some time Its course is presumably
related to the limitations of interesting
developments connected with the forth
coming expected changes in the person
mel of the companys management
London was again a moderate buyer of
a few issues, as it has been all week.
Business was of rather light proportions
all around. and for long intervals there
were almost complete suspensions of
activity.
Shrewd and observing trading comment
on the day was that while stocks seem
ed to be for sale on advances prices did
not go down.