Los Angeles herald., 1906-08-15
BY Associated Press.

NEW YORK, Aug. 14.--The market
for securities was too dull today to
warrant anything but negative conclu-
sions.
There seemed to be a REIMBURSEMENT
of the various support which has been
evident throughout the recent rise IN
prices. Efforts to carry prices up WaIu
were abandoned and the market left
to take care of itself to a large extent
This was not without it's effect on the
tone which became intensely dull anu
rather soggy.
Assertions have grown very positive
that this weeks meetings OF the au-
thorities of the Hartman Pacitics VIII
take definite action towards the plac-
dividend list and for the increase of
the Union Pacific dividend. Expecta-
ton is almost equally well defined OF
an announcement of st. Paul rights TINS
week. The expectations have been so
often disappointed in the past that a
spirit of caution and of some degree OF
skepticism has grown up and was re-
flected in today's operations in stocks.
This spirit was fostered by the fail
ure to act by the Canadian Pacific
directors yesterday on the supposed
plan to distribute bonus to stock
holders as a result of the large sales
of the company's land holdings. That
stock was weak in consequence in spite
of the statement showing extraordinary
favorable results from the years opera
tionS.
A similar effect on sentiment was
produced by the conservative tone on
the question of increased dividends in
the public utterances of James j. Hill
of the Great Northern. There was
comment also upon a tone of seeming
levity in the quoted references by that
gentleman to the persistent rumors OF
the Oregon land deal. 1t is to be said
of the market, however, that in spite
of the withdrawal of active efforts
toward lifting prices there was little
Supporting orders were offered on an
early decline and when these were
made effective the market practically
became drifting match with the trad
ing almost completely idle at times.
Foreign exchange advanced today
and a hardening effect on foreign mar
kets resulting from New York's de-
mand for gold was in continued evil
however, advanced again and reports
from the center were to the effect that
loans were being secured there for
New York account. This would indi-
cate that apprehension in Paris over
the Russian outlook had so far sub
sided as to permit relaxation of the
hold on money resources.
The weekly bulletin of the weather
bureau confirmed the feeling of con-
fidence over the maintenance of the i'm
provement of conditions of the crop
statement The special strength of the
winter wheat and corn carriers was at
tributed to the high crop conditions.
The recommendation of the execu-
tive committee of the Consolidated Gas
company to maintain the present divi-
dend rate, although 1t would seem to
relieve fear which caused recent
weakness in that stock was greeted
with a decline.
The call money market was little
changed but asking rates for time loans
for sixty and ninety days were raised
to 8 per cent and for five and six
months to Der cent Prices went 70
the lowest in the last hour and then
recovered to the best of the day, closing
firm.
Bonds were irregular.
Total sales, $1,325.000.
United States bonds were all un-
changed on call