Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-09-27
Fair Amount of Business
Transacted Today.
MOTIVES w AN TIN G
STAGNATIoN RESULTS LATER IN
DAY.
London Market Firm in Nearly ALI
Departments-Closing
-
Quotations.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, September PA fair
amount of business was transacted during
the first hour of the stock exchange ses-
sion today, but subsequently the dealings
relapsed into virtual stagnation. Fresh mo-
ttves for speculative ventures in one direc-
ton another were entirely wanting.
Somewhat contrary to expectations, the
London stock market was firm In nearly
all departments. as 1t had been thought
that the prospect that the Bank of Eng
Land would advance its rate of discount to-
morrow would have led to some liquidation
there. American stocks were for the most
part quoted at material advances above
parity with New York's closing prices of
yesterday. and foreign purchases in this
market amounted to upward of 10000
shares. the largest takings being in Union
Pacific.
While the money market remained firm,
there was no scarcity of offerings at the
advanced prevailing rates. The bulk or
the borrowing on call was arranged for at
AZ per cent, at which figure most of the
renewals of standing loans were fixed.
This being the last week of the month.
and In view of the general circumstances
OF the money market, 1t was commonly
apprehended that before the end of the
week something in the nature of furry
might develop, and this prospect probably
had much to do as anything else with
the extreme dullness of the stock market
after the first hour of business.
The banks have incurred loss of more
than 81, 700 900 In their operations with the
subtreasury since last Friday, but judging
from the sources from which the bulk or
the offerings of money on call have come
this week, 1t looks as If another heavy
curtailment in the loan account may be
reckoned upon in Saturdays bank state
ment.
Sterling exchange continued exceedingly
strong, Notwithstanding which, and con-
trary to the opinions of local bankers, Lon
don advices were to the effect that 100000
pounds sterling gold was being negotiated
for shipment to New York. Aside from
earnings statements there was no news
whatever relating to particular stocks, and
even the more extensive movements in
prices elected little gossip or interest.
Brooklyn Rapid Transit remained one of
the firm and the most active features of
the market but discussion with regard to
the dealings in that stock was of the most
general character. 1t is plain, however that
there has recently taken place quite a heavy
absorption of Brooklyn Rapid Transit by
Philadelphia and local interests, who pre-
sumably feel assured with regard TO the
prospects of the company indicated by
It's large and constantly augmenting earn
lngs. Little was done in the other local
ira elton issues.
Price changes in the industrial and mis-
cellaneous statements was for the most
part confined to fractional limits, but these
were generally toward higher level. and
the same was true of the dealings in the
railway list Exceptionally firm features
In the latter department were Union and
Southern Pacific, Great Northern and
Northern Pacific, Reading. Louisville and
Nashville and Ontario and Western. The
bond market was fairly active and firm
with a substantial advance showing in the
Central of Georgia third income bonds
That property continues to repeat and to
better the fine showing of earnings it made
during the ended fiscal year, which was ac-
counted sufficient to justify the declare ton
OF the full per cent interest on all three
series of the-company's income bonds. Since
the opening of the present fiscal year the
Central Railroad of Georgia has shown an
increase over last years gross earnings of
more than S311 900. or about Is per cent.