Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-01-12
VARYING CONDITIONS
Prices Today Neither Strong
Nor Really Weak.
CURTAILMENT IN VOLUME
Trading More Professional Than
for Some Time.
LOCAL FRACTIONS SLUGGISH
Americans Sharply Depressed in
London-Foreign Houses
Sellers.
LOCAL FRACTIONS SLUGGISl
Special Dispatch to The Star.

Special Dispatch to The Star
NEW YORK, January i2.-Today' s
stock market in a final analysis could
neither be described as actually strong
nor really weak. During the greater part
of the business session, however, prices
ruled moderately below yesterdays hnal
quotations. There was q large curtail-
ment in the volume of business In both
the stocks and bonds departments of the
market.
American shares were quite sharply de-
pressed in the London stock market in the
early part of the day, but showed dis
position toward recovery with the course
of the business session. Foreign houses
were, however. sellers in the local deal
ings to the extent of about 20 900 shares
The trading was Of more profess
sional character than has been the case
for a long time, the general situation
presenting few features calculated to
influence public sentiment in one direc-
ton or another. Neither did the excep
tional movements in particular stocks
affect the transactions as a whole as
they have done between Monday of last
week and yesterday. The Erie stocks
We're, TO be sure. again depressed for the
same reas ons which have been advanced
of late, but even those stocks showed a
better degree of, support than pre-
vious1y.
Rise on Foreign Exchange.
Fairly large engagements of gold for
expart to Europe followed upon a fur
Their rise in the foreign exchange market
but without any perceptible effect upon
the rates for money for any period. In
fact regarded as a whole, the stock mar
ket was one of the least interesting that
has been witnessed in a number OF weeks
The local traction issues. with the ex-
ception of Brooklyn Rapid Transit, were
sluggish. The last named stock was ex-
ceptlonally strong and very positive re-
ports were current that dividend pay
ments on the Stock would be instituted
before the close of the current week
In the industrial and miscellaneous
group irregular tendencies prevailed and
Consolidated Gas, for no particularly
novel reason. reacted quite sharply. Cen
eral Electric and Westinghouse Electric
were both decidedly weak.
Am. Smelling Little Affected.
American Smelling was but little affect
ed by the publication of further details
with regard to the affairs of the newly
organized competing company. The slug
gishness Of the United States Steel secu-
rites was commonly attributed to the be-
lated interest now being evidenced in the
subject Of the revision of the tariff.
II was not easy 10 ellc1t any olner
than technical explanation of the drift of
prices in the railway list. In the in
stance of the Erie stocks. there might. Of
course, be named the commonly accepted
notion that the public service commission
will refuse to authorize the proposed issue
of collateral trust bonds. but otherwise
the upward and downward movements in
one stock or another were merely at
fributed to operations Of the larger buyers
or sellers OF the security in question.
number of so-called railway special
ties. including Wisconsin Central pre-
ferred were exceptionally firm.