Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-27
Dizziness and IrreguIarity Were
=, Today's Features.
BROKERS DISAPPOINTED
Banks Started Week With Loss to
Subtreasury.
RAILWAY LIST VERY ERRATIC
Transactions Largest In q. p, s. r.
Atchison, st. Paul and Reading
Steel Shares Reactionary.

Special Dispatch to The Star.
NEW YORK, August 27.-Comparative
dullness and pronounced irregularity were
the distinguishing features OF today's stock
market. There was much disappointment
previous to the opening of business when
1t became known that practically the
whole of the large arrivals of gold In the
London market today had been secured by
the Bank of England and the continent,
and there was further disappointment at
the absence of any confirmation over Sun
day of last weeks rumors relating to par
ticular securities and notably st. Paul
Probably an additional influence in the
uncertain drift of the stock market was
the apprehension that much more stringent
money market conditions would be expert
enced over the turn of the month, although
there was little alienation in that respect
today. The banks have, however. started
the week with loss Of 81, 10000 to the
subtreasury. and the monetary situation
would appear to be one In which either
fresh supplies of cash must be obtained or
the banking situation strengthened other
wise through liquidation in the market for
securities.
Sterling exchange was steady today,
but one banking house announced the en-
gagement of f15O.OOO in Australia. the
metal to arrive in New York about the
end OF next month.
There was little news of any corse-
Quence over Sunday and none with the
Gus statements of earnings submitted for
the month of July. which included the
Atchisons report for that period. Atchf-
son common was one OF the strongest
features of the whole market, and to-
gether with St Paul advanced to new
high record figures.
The movement in Atchison was again
based upon expectations that at the meet
ing Of the directors early in October the
dividend will be established upon a per
cent basis.
The Railway List.
Although as already noted. st. Paul adj
vanced to fresh high record in the his
tory of that stock. the fluctuations In that
stock and those elsewhere in the railway
list were exceedingly erratic. Most of the
gossip relating to the activity in st. Paul
Is to the effect that the control Of the prop
erty has been acquired in the interests OF
the Southern Pacific Company. which will
take II over through an Interchange Of Sc
curtties and large cash payment.
According to current rumors, St Paul
common Is to be exchanged for Southern
Pacific preferred, dollar for dollar, and to
receive. in addition. $4,000 in cash against
each 100 shares. This report is naturally,
perhaps. entirely wanting in authoritative
confirmation, and Is cited here only on
account of Its persistent circulation.
Transactions in the railway list were
Atchison, St. Paul and Reading. A fairly
large business was transacted in the In
dustrial and Miscellaneous shares, where
the movements in prices were as irregular
as those observed in the railway list.
The United States Steel shares were re-
dictionary and most of the movements In
this quarter were toward lower figures, al
though there we're some striking excep-
lions to the general drift. Cases In point
were Sugar Refining. Amalgamated Copper,
Colorado Fuel and Iron, the Corn Products
stocks and Distillers securities. The anima-
ton In Sugar Refining was rather loosely
associated with the disturbances In Cuba
and appeared to be also Influenced by the
approaching dividend declaration on the
stock a.