The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-12-29
WALL STREET NEWS
Market Activity Pronounced
at Lower Levels.
RAILROAD EARNINGS LARGER
AtchisoH, Southern, Missouri Pa
eife, Wabash, aud l.. & n. show
Increases for November = Time
Money Rates Are Easier and More
Demand for Commercial Paper.

New York. Dec. 2S.--The pessimistic or
professionally pessimistic feeling in spec
ulatiVe circles in Wall street yesterday
carried over into to-day's stock market
TO sufficient extent 10 bring about re-
newed pressure. and market activity was
more pronounced at that time than at
any other during the day.
Nevertheless, at the slightly lower levels
greater support seemed to be extended to
prices and the market soon rallied and
with good deal of briskness 10 points
considerably higher than those az which
they left of the day before. After this
time and during the rest Of the stock
exchange session business was dead
Quotations backed and hlled within a
Fange OF perhaps half a point and closed
With net advances and declines about
EQUALLY eommingled No doubt a force
Efnilitating against the market in some
fdegree was yesterdays developments re-
Eyard ng the Northern Bank.
j Gas Displays Strength.
The Consolidated Gas shares again dis
played especial strength. other strong and
wen supported stocks to-day were Lehigh
Valley. Reading. and Union Pacific. and
attention was again attracted by an up
ward movement in various specialties
such as the United States Rubber and
National Lead common shares.
Beyond any peradventure the days most
important development was the evidence
brought in addition TO that previously fur
nished during the last fortnight OF an
Improving tendency in railway gross reve-
mitments for the decline did not exactly
know what 10 make OF this. inasmuch as
one or their strongest arguments for fall
ing values has been such as the supposed
general movement toward recession in
business as must necessarily result in
continual statements of reduced earnings
by the railway companies.
Yesterday abe news contained such IN
pleasant announcements. from THE bear
point Of view" as the Atchison's report
OF November business greater than
either OF the two preceding years, of a
large Increase in the Southern Railways
earnings for November. and OF very con
siderable increases, too. in the earnings
of the Southern Railway. Missouri Pa
citic, and Wabash, for the third week
of December
l.. a \. shows Gross Increase.
To-day, for the third week of Deem
Der, the Louisville and Nashville reported
a gross increase of nearly $500; the
Colorado and Southern and Western
Maryland October and November state
ments exhibited Improvement, and the
Northern Pacihcs November return
showed a loss in gross of $1,000. this.
however, comparing with a much larger
falling on IN preceding months.
Advocates of lower prices also found
II hard 10 make any capital out of the
action OF the Pennsylvania company in
declaring a dividend OF per cent for
the half year, as against 5 per cent de-
clared last December inasmuch as in
the present year the corporation has in
creased its stock from s60OO0.O00 to $50
ooooo, and is thus making a gross dis
tribuuon as large as formerly.
once more the time money rates were
easier and there was a larger demand
by the banks for commercial paper.
Call money was a shade higher. owing
Of course, to the imminence of the end
Of the year Sterling exchange was again
weak under renewed offerings Of cotton
and commercial bills.