Evening star., 1909-01-25
lndustriaIs and Miscellaneous
furnish the Features.
SOME EXTENSIVE ADVANCES
Americans Dull and Irregular in
London.
LOCAL FRACTIONS NO FACTORS
Striking Movements in the Railways
Were Toward Higher Levels.
Money Extremely Easy.
Special Dispatch 20 The Star.

Special Dispatch 20 The Star.
NEW YORK. January 2s.-The develop
nnents in the situation at large over Sun
day comprised nothing Of any consider
able Importance relating to the market
for securities. The London stock market
was engaged with the preparations Tor
the fortnightly settlement. and the varf-
\ous departments there. including that for
American shares. were dull and 1rregu-
lar Operations here for foreign account
showed a small excess of sales.
The local stock market opened firm and
retained it's initial tone during the greater
part of the business session. AS was the
case last week. however. actual ANNA
tion was largely confined to the indus
trial and miscellaneous shares. In tnat
group a number of very extensive maxi
mum advanc were scored at one time
or another during the business session.
Leading features were United States
Realty and Construction, Peoples Gas.
Tennessee Copper. North American. Gorn
Products, Central Leather, American Beet
Sugar and American Cotton OIL. The
rather sudden access of strength and ac-
tivity In these stocks was. however. un-
attended by particular reasons "hlcn
were a matter Of general Information.
II did not appear to he the case that
novel development bearing upon their
values had taken place over night. hence
il would appear to be logical CONCLUSION
that manipulative practices were mainly
instrumental in the special ANIMATION
which they exhibited.
q. s. Steel Moderately Active.
The United States Steel shares were
firm and moderately active in advance or
the appearance tomorrow afternoon OF
the quarterly statement Of the earnings
of the corporation.
AS usual. estimates OF the showing to
be made varied widely.
The annual meeting of the share
holders Of the Consolidated Gas Com
pany was held this morning and the re-
port Of earnings shows that the COM
pany had earned a small surplus over
the dividends paid but the figures were
based presumably upon the 81 selllng
rate At all events, Consolidated Gas
American Smelling were both sluggish.
The local traction issues were not
particularly prominent in the day $
transactions Brooklyn Rapid Transit
was comparatively steady while Ihi1d
Avenue lost ground after an early ad-
vance.
Notably Firm Railways.
The more striking movements in the
railway list were toward higher levels.
Notably firm stocks in that department
were Southern Railroad preferred. st.
Paul, the Rock Island shares, New
York Central and the Erie issues. al
though the latter failed to retain the
full extent Of an early sharp advance.
CONFIDENT predictions were made that
the decision Of the public service commits
sion upon the application OF the Erie for
authority to issue $300OO.0OO In collateral
trust bonds would be rendered before the
nI0 &f tkn ThAP0
marked contraction in activity in both
the stock and bond departments Of the
market In comparison with Fridays total.
The money market was extremely easy.
and small alteration was shown In the
rates for sterling exchange. 1t was mat
ter OF comment that for the frst time IN
many weeks the Bank OF England con-
trived 20 secure the whole OF the amount
Of the South African gold laid down in
the London market today.