Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-08-14
Weakness in B. and O. Due to Month
ly Statement. 49,.
CONSIDERABLE SELLING OF SUGAR
Death of C. P. Huntington Did
Not Affect Pacific Shares.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK. August 14-with only two
or three exceptions today's stock market
was decidedly strong in tone and senti-
ment was in the main hopeful. London
sent over range of prices fractionally
above the local closing parity last night.
and foreign houses bought moderate
amounts OF Atchison and Union Pacific
issues
The sudden death of Mr.. c. p Hunting
ton, announced before the opening of the
market. found his bankers in excellent posi-
ton for safeguarding his properties
against attack.
In consequence of this fact Southern Pa
cific shares sold throughout the day within
fraction of yesterdays top price. This
property has long been considered as be-
ing the most striking example of one-rnan
ownership and one-man domination to be
found among the railway list yet the re-
moval of that man reflected none of the
unsual consequences of such a condition.
Instead of liquidation the successor inter-
est had to contend with only a moderate
volume of short selling, which was short
lived and Improbable.
Both Southern Pacific and Pacific Mali
did remarkably well throughout the entire
Gay.
The buying of Atchison common and pre-
ferred was called good. the former being
gwen more attention than the latter on
the theory that surplus earnings entitled IL
to a position trifie nearer the preferred
The grangers We're strong under mixed
buying and first-class Investments were in
excellent demand.
Baltimore and Ohio was the weak fea t1rre
OF the day under liberal selling due TO a
decrease of s2.s9. 1926 in July earnings, part
OF which seemed to be liquidation.
On a scaledown there was some willing
ness to buy moderately, but stock was sup
Piled in round amounts from time to time
American Sugar was sold by the pool and
was positively weak at times. The business
OF THIS stock was so pronounced at times as
TO bring the general market 10 a halt the
room arguing that extensive liquidations in
sugar would unsettle the whole list.
The buying of Steel and Wire WAS nm
usually good and pool I'm that properly ia
said to have begun active operations 10 adj
vance prices. 1t has long been suggested
mat the industrial market would eventual
ly turn under the auspices of this properly
Brooklyn Rapid Transit was bought nv in
side interests under the influence Of the old
rumors.
The gold movement for the week Will
aggregate $s6O0.0o0. according to prepara-
tons already made. Shippers expect a
liberal outflow to be kept up during the re-
mainder OF the month at least. The an
nouncements excite no comment and cause
no alarm among bankers The money rate
Is as low as 1t could well be were the tide
OF gold setting. this way.
Barring the enthusiasm and the reck-
iessness, the present market might be SUD-
posed to lack none of the renuirements -
genuine bull situation. clear horizon
ana universal plenty could add business
put not strength to the present market
ana yet things hitherto considered of vital
sisnlncance to the financial world do NOT
harmonic with the prevailing strength al
all. 1t
European politics sug yest disturbing DOS
Slbll1tleS ana domestic lOMtfCz
be considered lightly The Chinese noa,tar
Is long way from settlement ana nubItc
interest is a negative quantity The novel;
" OF the times exists IN the fact thai the
public owns the stocks which for a baIf
century We're carried by and subject 10 the
whims of brokers' ~ NAS