Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-25
Some New High Records Were
I. Made Today.
SIGNS OF IRREGULARITY
Union and Southern Pacific Stocks
Very Active.
NOTABLE ADVANCE IN ST. PAUL
London Generally Steady-Mercantile
Reports Failed to Interest Brok-
ers-Steel and Copper.
Special Dispatch to The Star,

Special Dispatch to The Star,
NEW YORK, August 25.-Some new high
records were made in this mornings stock
market. notably in the instances Of Union
and Southern Pacific. and there was a
fairly sensational advance in ST. Paul. The
general stock market, while exceedingly
active and for the most part strong, was by
no means wanting in signs of irregularity.
there being much heavy selling of various
description upon occasion during the short
news of any Importance over night. and
aside from the publication of the weekly
bank statement none with the course of the
day.
In the absence of facts Wall street was
abundantly supplied with rumors of deals
and negotiations in one direction and an
other, but none of these possessed any
points of novelty.
The London stock market was generally
steady. with noteworthy animation in the
American department. and foreign houses
again bought heavily in this market The
dealings were upon very large scale, and
reflected a fair distribution of speculative
interest. Scant attention was paid to the
somewhat unfavorable advices relating to
the crops. and even the dubious outlook for
the bank statement appeared to cut little
inquire IN the speculation.
The usual weekly reports of the mercan-
tile agencies upon the state Of the country 8
trade set forth the monotonously favorable
conditions which have been reported for so
many weeks past. Wall streets interest
and attention was, however. almost wholly
absorbed with the technical aspects of the
market, and as there is practically no
money market on Saturday, even that
phase of the situation was temporarily
overlooked. There were continuing rumors
that heavy engagements of gold for import
from London next week were being ar
ranged; but doubts were again expected in
well-informed quarters in this respect.
Except In point of activity and in extent
of fluctuations. the dealings In one stock or
another varied very little. Union and South
ern Pacific, together with st. Paul. fur
nished a large proportion of the total deal
ings. other active issues being Atchison,
Reading and Pennsylvania.
The traction shares came in for a fair
amount of attention. and in the industrial
and miscellaneous groups the most active
features were the United States Steel
shares. Amalgamated Copper and American
Smelling.
Partially correcting, perhaps, the glaring
discrepancies shown in recent returns the
bank statement made less weak showing
than had been looked for. The loss in. ac-
tual cash was only 81. 1888, 600 a sum about
one-half of the smallest of the preliminary
estimates. The increase in the loan ac-
count was also far below the general ex-
pectations, being only So. $4,000 The de-
post account increased $4,000, and surplus
reserves decreased s2.sl1 900. The banks
lawful requirements Surplus reserves in
the corresponding week of last year were
$S,9IS,OOO, in 1904, $57,3I5.OOO, and in 1903,
$2O.67I,OOO.