Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-08-05
Oil Verdict Main Topic of Dis
CuSSlOn.
PRICES TENDED DOWNWARD
Herbert Knox Smiths Report Also of
Interest.
DISTURBING RAILROAD VALUES
Little Change in the Money Market.
Fair Volume of Business Was
Transacted.
PRICES TENDED DOWNWARD
DISTURBING RAILROAD VALUES
Arecial Dispatch 10 The Star.

Special Dispatch 10 The Star
NEW YORK, August 5.-For the time
being all other topics of discussion were
sheved today and interest centered exclu-
svely upon the enormous fines which were
imposed upon the Standard OIL Company
by the federal court at Chicago. on Satur-
day. 1t should be added also that the dis
Quieting influence OF the tremendous pecu-
mary penalty fixed against the company
was increased by this mornings report OF
the bureau of corporations and by the COM
ments upon the decision made yesterday by
the Secretary of the Interior.
The immediate effects of Saturdays judi
cial decision were fairly we'll measured
up in the transactions of the first hour In
the stock market. During that time losses
extending from fractional limits to upward
of two points were recorded In practically
all of the active stocks Subsequently there
was marked contraction in activity and a
large part of the earlier losses were re-
covered.
In the curb market Standard OIL was we'll
supported around Saturdays mean figures
and the course of that stock did not indi-
cate that its holders had been seized by a
panic on account of Judge Lands de-
cision. The ultimate bearing of the lat
ter Is. however. difficult to estimate, es-
pecially in view of the fact that a special
jury has already been called to consider
the further aspects of the case.
The appearance of the report of the COM
missioner of corporations, following i'm
mediately upon Saturdays judicial action,
was commonly accepted as attesting to the
sentiment of the administration in the
Standard OH case and served naturally to
emphasize the disturbing influence of the
unprecedented fines levied against the COM
pany.
London Market Closed.
As noted above. this question temporarily
overshadowed interest in the money market
and in all other subjects. There was, how
ever, little alteration in either money mar
ket or foreign exchange conditions, and in
fact the rates FOR loans on call showed
slightly easier tendencies. The banks have
gained in their operations with the sub
treasury since Friday upward of 81, 10000
and no particular stress is expected in the
market for demand loans up to the time
that the demand for currency from the
interior for crop-moving purposes sets in.
A fair volume of business was transacted
during the first hour, but already men
toned. the dealings subsequently came al
most 10 d StandStll.
There was no news except of a routine
character and very little gossip of interest
accompanying the dealings in stoCk or
another Price movements in fac: We're
remarkably uniform. and few STOCKS moved
contrary 10 the drift of the market at
large.
Much of the early selling appeared to rep
resent operations for the short account but
on the Other hand, some genuine liquidatic,-
was reported, caused. ii was said, by the
sentimental effect of the imposition of the
fine upon the Standard Oil Company.
The London stock market was again
closed today, but some selling orders were
executed here fov foreign account, caused
also by the pertur baton created by the
Standard OIL decision. The same small
number of stocks which have been similarly
prominent for indefinite period were
again the leaders Of the market in respect
to activity and extent of fluctuations.