Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-09-18
More Extensive Movement
in Prices.
ACTIVITY CONTRACTED
INTEREST IN THE MONETARY
SYSTEM.
Discussion Of the Outlook-Closing
Prices on New York and WASH
ington Exchanges.
epecial Dispatch to The Star.

Bpeclal Dispatch to The Star.
NEW YORK. September 1s.-While the
more striking or at any rate the more ex-
fensive, movements in prices today were
toward higher figures. the stock market
was by no means uniformly strong, and In
TACT. after the first hour OF business, O
great deal Of irregularity was apparent.
There was also noted after that period a
material contraction In activity. which had
previously been upon a really large scale.
Interest and discussion again converEed
almost exclusively upon the monetary sit
uation and outlook. Renewals OF stanoln8
loans were made at 81 per cent and during
the greater part of the day the rates for
Gall loans were quoted at and slightly un-
der that figure. The associated banks ap-
psared to be faring somewhat better In
their transactions with the subtreasury
than they did last week. as up to this
morning they had lost to the latter ins:i-
tuition only S2O9OO0. and the subtreasury
was q debtor at todays clearing house set
Gement to the extent OF more than $1,5OO,-
DO0.
Sterling exchange was heavy and press
dispatches from London reported the pur-
chase there of about 100000 gold for
ehipment to New York There was moth
Ing otherwise in the news over Sunday or
IN the days developments with much d.
feet bearing upon the market at large or
Individual securities The contest over the
control OF the Wabash railroad again Inn
parted strength to the securities, In Ques-
ton, with especial animation In the wa
bash debenture "B'' bonds. There was
again much conjecture with regard to the
identity of the interests which are sup
posed to be supporting the president pres-
dent In the controversy, and 1t was said IN
his favor that he and his associates were
Nny1H ms a
showing at the approaching annual meeting.
The more striking movements IN prices were
tor the most part confined to the higher
priced issues. Thus, there were very ex-
tensive gross advances In New Haven,
illinois Central, Chicago and Northwestern.
Great Northern preferred and Canadian Pa
cifc. 1t could not be said however. that
the movements in those stocks were based
upon any novel developments, or that they
were accompanied by any fresh or inter-
esting gossip.
Other very strong features of the railroad
list were Reading, Chesa peake and Ohio,
and the Colorado Southern shares. In the
Industrial quarter the tendencies shown cor
respond quite closely with those IN the rail-
way list Some extensive advances were
scored there also, but broadly speaking. the
dealings showed very irregular tendencies.
The usual active industrial stocks 1uctuated
uncertainty and within small limits, while
sharp advances took place in the Corn Prod
ucts stocks. Republic Iron and Steel and
United States Rubber. The local traction
issues were dull and relatively heavy. with
much talk in speculative quarters that the
forthcoming annual report of the Metropol-
itan system would make a very weak show
ang.
The London stock market was heavy in
most quarters, particularly for consols and
other approved investment issues. chiefly
on expectation that another advance in the
Bank of England's rate of discount would
be announced this week. The commodity
market moved irregularly also. with no
changes of Importance noted in agricultural
conditions.