The San Francisco call., 1906-08-21
New York stock Market.

NEW YORK. aug. 2o-with trading in enor-
nous volume. sales Aggregating 1900, 600 shares.
last weeks upward movement IN the stock mar
the market was extremely active. the tape being
from B 10 10 minutes behind time IN recording
Transactions. The tone was generally strong al
though heavy pr0nt-taking in certain issues, nota-
biy the Hartman stocks caused some irregularity
The greater part OF the days operations was OF
professional character in spite OF attempts 10 ere
ate contrary impression. As 8 matter OF fact the
wild character Of trading in itself sufficient TO
keep The public out OF the market. From the
outset interest centered around Union PACING and
Southern Pacific. which led last weeks remark
vide openings. Southern Pscihc soon adYGnc-
ing 10 high record figure There were heavy
initial transactions IN several other issues, in
cluding ANA lgHmsted Copper. Commission houses
reported a large accumulation of buying orders
from out Of town The action of the Hartman
directors last week was still the principal subject
OF discussion and comment thereon was. II any
thing Increasingly bitter. With Atcbison sell
ing at the highest price in It's history. it was
early remembered that the dividend this stock
would be increased. Later, when Pennsylvania
and Reading began 10 lead the market move
ment. rumor dealt 10 the same way with them.
While no definite news developed on these points
II Is clear from the long chain of recent events
that the interests which control the destinies Of
The great railways and Industrial enterprises OF
the country supremely confident to condi-
tiOns for some time toe come With the passing
days less is heard 10 the possibility of
money stringency in connection with the move
ment Of crops. However. money both on time
and call manifested s hardening tendency today,
numerous 0Teryear loans being reported al per
cent. while call money loaned In considerable
amounts al per cent, advanced to per cent
before the close. Advices from London suggested
absence OF any urgent demand for gold by
this market. A large consignment of the metal
reserve at that center from South Africa re-
ported TO have been taken by Russian bankers
There the usual optim stic reports from the
traffic managers Of the railway systems, Of
them forec6stlng & year or more OF record ton
mage Briefly, there seems 10 be nothing in the
history OF the American railroad 10 compare with
the prevailing demand for transportation. AS for
crops, weather conditions were all favorable TO
further improvements, indications pointing to
bumper Yields in everything except oats. In the
lste session Of the market the movement shifted
other issues. such the Bill stocks. st. Paul.
Illinois Central. Sugar and Brooklyn Transit. The
Epurt in these issues probably designed 10
cover further realizing and the swift pace Of the
early day was maintained with but slight diminu-
ton The furry IN call money just before the
close precipitared some heavy selling, Union Pa
. eifc making net loss and the balance Of the
active list selling from / TO points below the
DAYS best figures. Opinions as 10 LOndon's par
ticipsti0n in this market differed, early reports
telling OF proht-taking sales, while later Il was
declared that the days business showed pur-
chsses balance. The strength Of the Copper
stocks here doubtless a reflection In part OF
the higher prices quoted for the metal in London.
IN addition 70 the stocks named. new high records
and Ohio. The Sub Treasury at the close Of busi-
ness today reported payments aggregHting $23,
600 600 FOR account OF the new Panama bonds.
Sales OF bonds for the day were Ia keeping
with the heavy business tn stocks amounting TO
81 745. 600.
United States bonds were all unchanged on
call.