The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1912-01-18
LOW LEVEL OF
PRICES REMAINS
Undertone of Firrnness of
Early Week Was Lack
/, ing Today

New York. JAM. 18.-Although
there was no decided disturbance of
the level Of prices, the stock market
today was %appreciably weaker. The
list lacked the undertone of firmness
of the earlier days of the week. Stocks
We're under moderate pressure most
Of the day but losses were small and
Union Pa4kfc and Canadian Pacific
were h only prominent issues, which
receded as much as a point. Toward
the close the demand improved and
the earlier losses were generally re-
covered.
The increased demand for invest
ment issues was perhaps the most
significant feature of the day. This
demand was apparent in both bonds
and the higher grade of investment
stocks. A good inquiry for the new
Rock Island bonds, both at home and
abroad was reported.
The reception Of this issue, the first
actual marketing of bonds on a large
scale of the year, was awaited with
keen interest as a test of the market,
h tobacco stocks and bonds and
the coalers, of late the active features
of the list. were again the strongest is
Sues, although their gains were small
er than on yesterday. The American
tobacco preferred old and new stocks,
the Liggett and Myers issues. Lorillard
preferred and American Snuff pre-
ferred rose from 2 to 5 points each.
Among h c%oalers, Central Railroad
of New Jersey was marked up four
points to 337, another high record
price.
The movement in the tobacco stocks
were highly speculative. being ettrib-
uted to manipulation in connection
with the marketing of the new tobacco
issues.
National Biscuit rose four points to
14S, a new high record, and several
others of the specialties gained lesser
amounts. American Mailing preferr-
ed made a three point gain. Missouri
Pacific was unusually active late in
the day and advanced a point.
Announcement that the last Of the
idle mills in the Pittsburg and Shar-
on district of the United States Steel
corporation was to result operations
was without effect on the steel stocks,
which moved with the general mark.
ct. Despite reports that steel orders
this month have not come up to ex-
pectations, the weekly reviews Of the
ing steel companies had received new
business as large in volume as their
shipments.
The complete figure Of the coun-
try's foreign trade of last year full
filled expectations of an unparalleled
showing. exports u ahead of any
other year with an excess of exports
e imports the largest since, 1908,
The bond market was firm, as a re-
suit of the heavy investment buying.
Conspicuous strength was shown by
the Burlington. New York Central, ST.
Louis, Southwestern, United States
Steel and various tobacco issues. To.
tai sales par value, $4.90S; 600.
U. S."bonds were unchanged ON call.
Money Market. -
London. Jan. '18.-Money was
scarce and discount rates were firm
The stock market was quietly
cheerful Consols gained three.eights
on government buying. but they eased
of later. Home rails advanced on
favorable traffic reports and the bet
ter labor outlook. and rubber shares.
Mexican rails and foreign bonds hard.
ened. kaffirs and Rio Tintos were
fiat on Paris selling.
American securities opened steady
and, improved during the first hour.
Then light realizing caused a reaction
and a part Of the list fell below parity.
Later New York offerings added to
the heaviness but the trading was linn
tied and the losses were only frac-
tional. The market closed quiet.