The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-08-16
HARTMAN STOCKS
Dominate MARKET
Excited Speculation II r3 Pa ar:E':s'
Fellows Ill Wake of Rumors
ofs1mportantD Developments. II
The GEN ERAL us I 81 UGclsH
aNosNotab1c Change inc Conditions
iii Trade Time Loan
ss$. RatesBAdvancc n
tBy Associated L, press.,g

800 4 H.
5si NEW YORK, August 1b.--f days g
stock market was mndo UP II, oyerw1hellm n
Ing proportion Of tho excited srcc, I'D tion
In tho Hartman Pacifics. Tho bacKp'oh1ee'
Of this movement was the concsiht ra e &c
buying OF tho two stocks BY, CON MISSION
houses usually credited with co l1t "
operations In the stock market fos ca pl-
talists closely associated in the control tS
Of those railroad properties. Eagerly l
following tho movement was q clou w q pl
speculators OF all degrees Of pro9m m en f
down to the small room trader, Seeking
profito OF a slight fraction on each sep
arate trade. The character OF tho main
\ b,ivIng was accepted as evidence Of IN
conclusion OF important plans IRE gardlrg
tho properties. That these plans had to
do WITH. dividend policy was taken fors
granted III was assumed " very confi-s
IDENTIFY that m increase In the dividend % Oh
Union Pacific had been determined AMI
that dividend payments were to 20 M q
4 tfatcd on Southern Pacific the yearly
rate for the latter being most commonly
assumed at a per cent: but with conjec
ture running to higher ra tc. There
,swas q current supposition that the rcl Ia
ton OF! st. Paul to these properties was
Il also involved In the coming development
and that some form OF control OF Il that
%propcrty, either by issue OF bo nds IN ex-
Z change for tho stock. 81 or otherwise, was
8in contemplation. These various ssinlr -
misses were lacking In authentic 9confirma-5
h tion. b and 50 far as could be learned mo
Il formal official action has been taken YET
a the subject. This Is expected to be
done at the meetings Of the execu tive
committee OF the Union Pacific and of
the 2dlrec tors OF the st. Paul, which arc
+ fixed for Tomorrow. Attention became
, moro and more concentrate ed on the move
4 mcnt in the two Hartman stocks, and.
TN the final hour OF the trading they
& moved UP to their previous record pr ICES.
through 4! a flood OF offerings, and closed
Z strong Mt the top level. Tor. prices to-
& day were 81 rs for Southern Pacific and
1918 for Union Pacif tic. " The only i'm
portant supplement in the ma rket to-day
! TO these movements was In r cading and ~
I'm Pennsylvania. the former cunning early
Sin tho. day and the latter In the last:
( hour. The market otherwise was narrow
and generally Gluggish. and tho protlt-
taking In the general list y nder8 cover OF
II the strength In the leaders made the Etono5
irreguInr44,ip Il to the closing. There was
no notable change In general conditions.
Rates for time loans con inued to a nd-
vance. and bids for ninety III ys' accom-
rrs,dation W ere raised to s per Cen IT, With
she asking prices NJ 81 per cent. 3& I ates;
for call loans showed e no n Important
changes. q s a
Bonds were Irregular. Total sales, par
value, $2,Ol5, 600 United States II lew iis
advanced n per cent. on call
s.ls Total sales OF stocks to-da y were s7o, 500
shares. lss3E. Il n $3S 58
III NEW YORK. August Ii. --M Money on call
( steady: 3G4 per cent; ruling :. rate asM ];
closing bid, 4 s.; offered at 81. Time loans
Z strong; sixty days, 4i1kQ75; ninety days.,
{ ba5h; six months, 81 d6. 'rirne merean-5
tile pa per. 5,lsa6 per cent, Sterling ex-}
change easy. at s4.s47oas4. s475 for demand
and at s4.sls5as4 $3.50 for sixty day Bills
Posted rates. s4.s21sasis3 and si.s5ha34.s6
Commercial bills. A.Si s-sas4s11 IL, Bar
silver, G6i.. Mexican dollars, 50A 3