Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-01-17
TONE STRONG TODAY
Heavy. Liquidating Pressure
in Early Dealings.
BUYING POWER is EVIDENT
Consolidated Gas Fluctuates Over a
Wide Range.
railways ARE PROMINENT
BUYING POWER is EVIDENT
RAILWAYS ARE PROMINENT
t. Paul Weakness Starts an Irregu-
lar Price Movement-Call
Money Is Easier.
I.nrisl Dispatch to The Star.

f"risI Dispatch TO The Star,
NEW YORK January 11.-There was
rrhaps less uneasiness and apprehension
= the stock market community today
nth regard to the situation Of the mar
Of and the immediate future of prices
father heavy liquidat1ng pressure appear
in the early dealings. which was prob
bly,. at least in great part. the execution
orders which Saturdays storm prevent
q Wall street from receiving.
There was probably also some selling
or the account of tired holders, but the
earish professionals were not able to
AXE much advantage of the tumbling out
T long stock.
The market disclosed a good deal Of
uying power and the tone as we'll as the
rend of prices throughout the forenoon
"A generally strong.
Around midday. however. the market
roke or was broken under the influence
the weakness which ST. Paul disclosed,
nd the beariSh contingent found 1t
ne room, especially for the so-caled high
rice issues. OF professional bearishness
1ere was little or no diminution.
Traders of the professional class took
ngniZance of the advice which was ex-
ensiveiy given among commission houses
, take advantage of rallies. to get out
or reduce long commitments. and ar
ued from these and other indications
Rat the street was still pretty full OF
socks. and that such liquidation as had
AIKEN place had had very little effect in
diminishing the public long account. des-
lite the to 10 point decline which most
T the active list had suffered.
On the other hand. much of the abSorp-
on of stocks last Saturday and this
Forming was unquestionably traceable to
uying of an investment order and rep
scented purchases for public as well as
Or banking interests.
Short Coverings.
The part which short covering dis
Iayed in rallies Saturday and today was
sserted by the bearishly disposed to be
,rge, but the way in which some issues
ose Indicated that the retirement of
hort contracts might henceforth be ac-
omplished with. more difficulty than was
lie case last week.
Consolidated Gas. which f1uctuated over
wide range. was one of these stocks,
nd other issues which at one time or
mother displayed marked firmness or ag-
ressive vigor Were Chesapeake and Ohio,
Peterborough. preferred: Missouri Pa
ifc, Rock Island. the Wabashes, L. 8.
.ubber, International Harvester: Pacific
IaH. Brooklyn Union Gas, L. S. Steel.
pennsylvania. Missouri. Kansas and
exas and Brooklyn Rapid Transit.
The stocks which most directly SYM
athized with the weakness of ST. Paul
ere Atchison. Great Northern. Northern
acific. Southern Pacific and Union
acific.
As a whole, the price movement up to
1e early part of the afteT noon was quite
regular, with a tone Of underlying
.rength.
Few. If any, of the particular features
the list could be related to actual or
Ispected developments. The course of
I. Paul did tend to lend color to the
Xix that reduction in the dividend to
per cent was probable until the bust
ess of the Puget Sound extension had
cen more firmly established.
Rumors of Little Consequence.
The movement of Consolidated Gas was
ccompanied by rumors Of an impending
lcrease in the dividend, but rumors and
Irmise were of little consequence in the
avs dealings, in comparison with the in
.rences which were drawn from the signs
the market itself. and from such in
ormation as related to the general out
,ok
II Is certain that no impulse to the mar
ct was furnished by the result of the
:rtish parliamentary elections to date.
ne returns SO far were effective in i'm
arting a good deal of heaviness to the
Ondon stock market but the prospect
,ould seem to be that If the liberal
arty wins with reduced majority the
utcome would he rather favorable than
therwise in its effect on securities. no
latter how much at the present moment
1e London stock exchange may fancy
rat 1t desires unionist victory.
Call money today ruled at 3asa31s per
ant. Foreign exchange was firm with a
Irther tendency upward.