Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-01-08
SHIFTING TENDENCIES
Feverish Tone of the Market
Continued Today.
INCREASE IN DEALINGS
On Somewhat Larger Scale OF
Activity.
FRACTIONS DECIDEDLY WEAK
Colorado, Southern, Missouri, Paci-
fc. 500 and the Katy" Stocks
Lead in Railway Features.
Special Dispatch Ia The Star.

Special Dispatch Ia The Star
NEW YORK, January S.-Transactions
in the stock market today exhlbited t4e
same shifting and uncertain tehoenc'es
which have been displayed since the uii-
settlement Monday caused by mat Gay :
panicky break in Consolidated 'as. Inc
dealings in stocks were. however, COLI
Quoted upon a somewhat larger scale Vi
activity than on yesterday ana there
was a noteworthy increase IN the trains
actions in the bond market. Price move
ments in the general market'ano III PAL
ticular stocks were unaccompahleo ps
any particularly definite or interesting
news or gossip.
In the railway share list the Erie issues
were rather notably weak on a repetition
of the reports that the public service COM
mission would refuse to approve of the
issue of the proposed collateral trust
bonds.
The strongest features in that quarter
of the market were Colorado southern
Missouri Pacific, the 500 stocks and MIS-
souri,, Kansas and Texas. There were ru-
mors that purchases designed for the con-
troll of the property accompanied the
dealings in the last named stock. Such
securities as JnioTf Pacifis. Southern Pa
cific. St Paul and Reading were heavy
session. although the final changes were
in no instances particularly extensive
Smart Gains for 1ndustrials.
The local traction securities were de-
cidedly weak. although no novel explana-
tion of their particular tendencies was
advapced.
In the industrial and miscellaneous
group rather smart gains were establish
ed by American Cotton Oil, United States
Cast Pipe Iron and Peoples Gas. but for
the most part price movements there were
as irregular as those noted elsewhere in
the market Colorado Fuel and Iron suf-
fered substantial reaction, did Amer
lean Smelling. and the United States Steel
shares reflected a resumption of the pres
sure noted in the early part Of the week.
Consolidated Gas fuctuated very ir-
regularly. American shares were quoted
at mixed changes in the London stock
market, and foreign houses were sellers
here to the extent of about 10000 shares.
Gold to the amount of 100000 was
withdrawn from the SubtreaSury for ship
ment to Europe and dealers in exchange
were of the opinion that transfers Of the
metal might be continued for some time
Money market conditions were, however,
virtually unchanged
Bank Statement No Factor.
Little effect appeared to be exercised
upon the stock market by the prospect
that tomorrow's bank statement would
show a large increase in surplus re-
serves.
The banks have gained from the sub
treasury alone more than 100000 and
it is unlikely that the loan account will
show any material exception.
1t was the common eXpressionsof opin-
ion that yesterdays rally in prices had
eliminated a large proportion of the
short interest which developed during
The decline of the early part of the week
and that in consequence the market was
again resting upon the rather uncertain
foundations resulting from the sharp de-
clines recorded earlier In Consolidated
Gas and New York Central. The last
named stock was. however, today excep-
1ionally steady.