Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-08-08
Market Was Nervous After
Yesterdays Debauch.
MANY LOSSES WERE SHOWN
Quotations From Bonaparte Were Ill
Received.
LONDON EXCHANGE AFFECTED
Foreign Houses Executed Many Sell
ing Orders Here-Cs:i for
Funds
MANY LOSSES WERE SHOWN
LONDON EXCHANGE AFFECTED
Special Dispatch TO The Star.

Special Dispatch to The Star.
NEW YORK, August Sly Yesterdays
vertical downward plunges and occa-
sional rallies In the stock market were
succeeded today by much more irregular
movements in prices II was apparently
the case that liquidation was conducted
in reduced volume and that certain
measure OF support was being extended
to particular stocks. This combination OF
circumstances naturally led to covering
of short contracts in those cases where
they were most apparent. and conse-
quently the noted irregularity Of the
market was natural enough.
During the first hour of business. how
ever. the dealings revealed a condition OF
virtual decentralization. and many stocks
scored losses ranging from two to upward
of five points. There was nothing what
ever in the fresh developments of the
morning to account for such severe de-
clines as those noted. and. in fact. senti-
ment and market movements appeared
to be again determined solely by the
same set of influences which have dOmi-
mated the trading throughout the week
With the course OF the day certain state
ments attributed TO the federal attorney
general were published. and while the in
tentions expressed were altogether in line
with the previous policies of the admins
traton. they created disagreeable impress
minor part in the course of the stock
market.
Call Rate FURRY.
The ondon market was materially affect
ed Ly yesterdays slump in the local deal
tngs. further decline described as de-
moralizing took place in English cOnsol5.
carrying those securities down to the low
est figures yet reached. The Bank of Eng
lands weekly statement made a somewhat
NOD nti iva hfy ZINC Ion 70
sellers here on balance to the extent Of
about - OsD shares
The furry in the rates for call loans In
the last quarter hour OF yesterdays bust
ness session proved today to have more
significance than was expected at the time.
Money on call opened today at Az and
per cent. at which rates call loans were re-
newed. and throughout the day the QUOTA
tions for that form Of accommodation ruled
far above the averages of the past few
weeks. Money market brokers reported that
the efYecting of loans for time periods was
almost entirely a matter of arrangement
between the borrower and lender.
Very large transfers OF currency were
made to San Francisco and Chicago. the
amount being sufficient indeed. to wipe out
practically the gains which the banks have
made so far this week in their operations
with the subtreasury
Bargain-Counter Buying.
General price movements In the stock
market. except as Influenced by the general
considerations previously mentioned. ap-
peared to result wholly from technical
trading circumstances.
A feature of the dealings. which is usually
in evidence in similar periods OF market
unsettlement was the execution upon a
fairly large scale of a great number OF buy
ing orders for odd lots of stock, but such
was the case also in March and during the
preceding periods OF depression. This buy
ing may correctly be described as OF the
best character, as 1t is always conducted
on a cash basis, but naturally 1t does not
avail marketwise against such liquidation
as has poured into the stock market this
week
Scant attention was accorded to the day 8
routine news. including the statements Of
earnings submitted and the dividend dec
1arations although, for obvious reasons,
there was some degree of interest taken in
the meeting of the Union Pacific directors
scheduled for the afternoon. That stock &C.
cupied its usual conspicuous position in the
market and its prominence was shared in
by the same small number of stocks which
have been the leaders in the dealings
throughout the year.