The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-08-22
aECOVER|ES MADE
FROM THE REACTION
Portsmouth Credited With Fall
ing off in Business
READING MAKES RECORD
Leading lndustrlals Show Noteworthy
Absence of Activity-Final Hour
Was Quite the DuIlest
of the Day.
READING MAKES RECORD

New York. August 2t.-General recov-
cries from last weeks slight reaction
were the rule in the stock market today
but trading was dull. For the want of
some better excuse. the street attributed
the falling off of business to the latest
developments at Portsmouth. 1t is fact,
however, that the substantial financial
interests are at last beginning to display
something more than languid interest in
the progress of peace negotiations. The
more marked advances today, of which
there were several. were limited largely to
the so-called high class or investment
stocks.
There were few exceptions, notably
Reading, which moved to high record,
while other less active issues attained
the highest level reached in this move
ment. The advances In Delaware and
Hudson and the Hill stocks, attracted lit
tie attention inasmuch a. it Is generally
recognized that the floating supply of
these and similar issues is small and
manipulators are thus enabled to move
them at will. The Gould stocks were
prominent in the days movement, though
NOA@N@f
lions were heard.
Western advices tell of a shortage of
cars to meet the coming crop require
ments and 1t is quite likely that transport
tation facilities on most of the important
railway systems will be greatly overtax-
ed once crop movement gets under way
Chicago reports unusually heavy traffic
east and west, shipments of flour and
grain being greatly in excess of the COR
4..of fn
managers of the great freight carrying
lines are optimistic to an unwonted de-
gree on the outlook. There was a note
worthy absence of activity during the
month in such stocks as have recently
been market leaders. Trading in Union
Pacific, Southern Pacific, St. Paul and
Atchison was relatively nominal and some
pressure was shown throughout
This same condition applied to the lead
ing ndustrials including United States
steel common and preferred. Amalgamat-
ed copper made no response to further
advance in the price of the metals. Amer
lean Smelling was again moderately ac-
tive. although irregular. OF the minor
railway stocks, almost the only one call
ing for comment is Wisconsin Central
the common and preferred making fur
Their advances on a renewal of rumors
hitting at change of control. The move
ments of the more obscure issues in both
the railway and industrial groups were
without Importance, although more or less
abortive efforts were made TO advance
certain of them. Commission business
showed very slight increase, and the
greater part of this came from wire
houses. The final hour was quite the
dullest of the day with an irregular clos
ing London's participation in this mar
ket was disappontingly small in view
of the strength of American at that CEN
ter. Foreign bankers are mostly of the
opinion that the continent is more in
clined to buy here on slight recessions
than on marked development OF
strength. Time and call money ratesNefe
practically unchanged. Though indications
point to a slight hardening in long time
loans in spite of the light demand There
was temporary halt in the flow of cash
to the interior but this Is expected to as