Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-20
THE HEAVY PR0FlT-TAKlNG
Decidedly Reactionary Tendencies OF
the Leaders.
MONTHS STRIKING ACTIVITY
Trading Conducted on Scale Ap-
proximating ALI Previous
High Records.
special DISPATCH to The Star.

Special Dispatch to The Star.
NEW YORK, August 20.-In the absence
of any noteworthy developments over SUM-
day. business in Wall street was almost
wholly absorbed in the occurrences upon
the floor of the stock exchange. The most
striking features presented by the dealings
were very great and general increase IN
outside interest. as expected In the busi-
ness of commission houses. and on the
other hand the tremendous proht-taking
sales conducted presumably by last weeks
four-handed purchasers.
At any rate, practically all of the stocks
which were the leaders in point of strength
and activity throughout the month showed
upon occasions decidedly reactionary ten
denotes. and very pronounced shifting OF
speculative interest into new directions was
observed.
Trading was conducted upon scale APP
proximating all previous high records. Not
wfthstanding a certain irregularity OF
movements the market. as a whole. could
be described entirely az aggressively strong
At the days maximum figures. the mar
ket's high record for the year and for all
time reached last January was closely at
tanned. As noted above there were no de-
velopments of any consequence over Sun
day. and none of character calculated 10
stimulate speculative sentiment with the
market. in fact, was quotably higher Tor
loans on time and the rates for loans on
call held firmly around per cent during
the greater part of the day.
With the reopening of business upon the
London stock exchange American railway
shares were shown to be quoted there at
wide and irregular changes In comparison
with New York's closing figures OF Satur.
day. Operations here for foreign account
were in exceedingly large volume and re-
suited In a preponderance OF purchases, va.
riously estimated between 10000 and $1,000
shares OF stock.
Hopeful Over Future Dividends.
Hopeful expectations with regard to fu-
ture dividend declarations. melted unques-
tiorably to a great extent by last weeks
action OF the Union Pacific management.
might be again named as the really domi-
nant factor in the days trading.
There was little diminution In the guam
tity of the criticism directed against the
Union Pacific directors for their devious
procedure in the matter OF making public
announcement of the dividend. Nor was
there any change in the character OF crfti-
cism in this same regard. If any proof were
needed that the announcement was made
with due regard to stock market possibili-
ties. II was clearly enough evidenced indeed
in the supplementary statement issued
from the Union Pacific ONCE on Saturday.
Union and Southern Pacific were both ex-
ceedingly active today, but were not rela-
lively so conspicuous in that respect as
they were last week. and, in fact. other
stocks showed a larger volume Of trans
actions.
Price movements in both cases also were
auite Irregular. and so were the fuctua-
lions in Pennsylvania and its affiliated
stocks with the exception OF Reading.
which was notably strong. The largest
maximum advance in any of the active
Issues was in Atchison common, the rise
attaining very extensive limits.