Evening star. [volume] (Washington, D.C.) 1854-1972, 1912-01-12
MARKET IS TICKLE
Early Trading Proves Irregu-
lar, With Downward Trend.
SALES OF LEHIGH VALLEY
Coaler Proves Attractive Because of
Extra Dividend.
LIST LATER SHOWS STRENGTH
Important Stocks Make Good Gains
Soon After Opening
Transactions.
SALES OF LEHIGH VALLEY
LIST LATER SHOWS STRENGTH

NEW YORK, January 12.-Lehish VAL
ley attracted most attention at the OPEN
ing of the stock market today, on ac-
count of the declaration Of an extra divi-
dend after the close yesterday. The
stock opened up y, but quickly reacted
under profit-taking sales to a point be-
low Yesterdays close. The general list
was irregular with a downward trend.
The copper stocks were under heavy
pressure. Canadian Pacific lost IL.
Supporting orders made their appearance
in Lehigh Valley when it touched Isl,
and il rebounded violently to 1S47s. It
then reacted Ia to below last nights
close and moved uncertainty. The gen.
eral market became strong in sympathy
with the bulge in Lehigh Valley. Read
ing established a gain Of , points and
Union Pacific rallied a point. Large
fractional gains were registered In most
OIL the important stocks. New York Gen.
trail was active and a point higher. and
Western Union and Peoples Gas gained
IL. The market was heavy in tone at
II O'Clock. With ST. Paul falling to le7S-
Lehfgh valley Disturbs Market.
The equilibrium or the market was dis
turbed by violent fluctuations Of Lehigh
Valley. Declaration of an extra dividend
had been expected for some time. and .
large speculative interest In the stock had
been built up. Room shorts who sold on
the theory that the news had been dis
counted succeeded In forcing down the
price for a time, but were badly squeezed
on the recovery which followed. Reading
was Influenced to some extent by the
movement. but displayed more stability.
st. Paul again rsSplayed weakness. re-
cedins to within less than points of its
low pripa nf ft11 Cnnnor
under decided pressure despite the fur
Their advance in the price of the metal.
Prices did not fall to the earlier low
level In the second hour. although the
Speculation became steadier toward mid
day, and there was an improvement In
all quarters. with some of the specialties
rising vigorously. Bonds we're steady.
Increase in Business.
Higher prices accompanied large in
crease in business but the demand was
largely concentrated in handful of
stocks. Best prices of the day were
made generally with the buying of the
coalers a feature. Lehigh Valley
touched 1s4k. and Reading was up
ia at 1919. Central railroad OF New
Jersey jumped 8 points. United States
Steel and tsnioh Pacifc reached vs.s
and 1885, respectively. Telegraph and
telephone stockS were active. and
American Telephone. Pacific Telephone
and Western Union improved ~.
Reading was buoyant in the latter part
of the day. and sold at l53R. u rise
of points. Central Railroad Of New
Jersey was up ~. Lehigh Valley was
fSsbion around 1ST On the curb
trAAsActions were begun in' the new
Lehfgh Valley Coal Sales Company.
ABOUT 1000 shares were dealt in at
= 49,. n Th0t 90 svyH-
dertone Of stocks was strong. and the
tendencys was helped by predictions of
an eighteen-mifliOn-doa cash gain in
tomorrows bank statement.