Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-18
Market Features Were the
Same as Yesterdays.
ENORMOUS TRANSACTIONS
Advances More or Less Extensive
Scored
IN MANY OF LEADING STOCKS
Traction Issues Alone Were Compare
lively Neglected-U. p. and S. 2.
Again Central Figures.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, August 1s-It was not pos
sible to make use of much variety Of terms
In describing today's stock market in con-
trast with those used yesterday. The I'M
polling motive of the trading was the same
and the general characteristics Of the mar
ket we're indentical with those observed
then. Transactions were In enormous vol
ume and advances more or less extensive
were scored throughout the railway list
and In the industrial and miscellaneous
shares.
The traction issues alone were compare
lively neglected Union and Southern Pa
cifc naturally occupied the foremost posi-
tion In the dealings and both stocks on
enormous trading advanced well above the
highest figures that they reached yester-
day. Pennsylvania and its affiliated stocks
continued strong and active, with confident
prediction current with regard to increased
dividend payments on these issues.
Atchison advanced rapidly equally
positive assertions that enlarged dividends
would be paid on that stock, and in fact
the whole keynote of the speculation might
be summarized in the terms of expected
enlarged dividends. +.--.
United States Steel. common, was about
the most active feature of the Industrial
quarter. although more extensive advances
were scored elsewhere, notably in American
Smelling. The London stock market was
closed today over one of the usual August
half holidays, but in spite of that fact
exceedingly heavy purchases of stock were
conducted here for foreign account. The
position of the option dealers in London,
and more especially of those who have sold
calls against Union and Southern Pacific, is
regarded with some concern.
Glowing Mercantile Reports.
There was nothing actually novel or i'm
portant In the morning news. apart from
the fairly glowing reports of the mercantile
agencies upon the state of the countrys
trade. The tremendous speculative excite
ment created through the establishment Of
Union Pacific stock upon an annual 10 per
cent basis might be named as the sole, d.
rect and controlling influence in the whole
market.
There was again general condemnation ex-
pected with regard to the methods employed
In making public the terms Of the Union
street been treated to such a scandalous
episode. Even in the palmy days Of the
Goulds, Fisks and Drews no parallel can
be found for such a glaring piece of manipu-
hating stock jobbing. But the directors of
the Union Pacific are most respectable men.
Here they are: James Stilman, Marvin
Heykitt. E. III. Hartman. Henry c. Prick,
A j. Earring, p. A. Valentine. Joseph F.
Smith, Oliver Ames, William G. Rockefeller
William d. Cornish Robert s. Lovett Chas
A. Peabody, H. II. Rogers and Robert H.
Goelet
The weekly bank statement attracted lit
tie attention on account of the turbulent
speculation in the stock market The
changes were not far out of line with the
preliminary estimates except that the cash
Item showed an Unexpectedly large de-
crease. the amount being $3.457 900 The
loan account was curtailed to the extent
of S5,17J,OOO, and deposits were reduced
$e.14SO00 In consequence surplus reserves
decreased only s1,17O.OO0. and now stand
at SI,101, 900 in excess of the lawful re-
Quirements. Surplus reserves In the cor
responding week of last year were s9,S55.-
900 in 1904, SIS. 613 600 and in 1908, $21 05S.-
600