Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-08-06
Rising Trend of Prices Follow
ed Opening.
WEEKS RECORD REPEATED
Many Stocks Advanced to Further
High Prices.
SOME NEW PRICE RECORDS
Extensive Gains Established by In
dustrial INSTRUMENTATION
Heavy in London.
RECORD REPEATED
SOME NEW PRICE RECORDS
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, August 6.-After a brief
period of hesitancy in the early dealings,
this mornings stock market resumed the
rising tendency which had characterized
the trading for so many weeks past.
There were. to be sure. slight reactions
from time to time during the day. and it
was observed that on such recessions there
was invariably a marked falling away In
activity. The days market repeated the
record which has been made daily this
week In that a considerable number of
stocks advanced still further to the high
est prices yet reached on the current up
ward movement.
United States Steel preferred. which
sold this morning ex the quarterly divi-
dent OF Ia per cent, after allowing for
that deduction. rose closely to the high
est figures 1t has ever attained Union
Pacific was another conspicuous security
which rose to a new high level on the
advance of the summer. Other striking
gains in the railway list were noted In
Reading. Missouri Pacific, Southern Pa
cific. st. Paul and Atchison.
In the early part of the day Canadian
Pacific was exceptionally weak because
of the extension Of the machinsts'
strike on the company's lines, but later
the stock recovered the greater part of
Its loss Movements corresponding with
tnOSe nOteO III the railway SndroS TOOK
place among the industrial and mis-
cellaneous issues.
very extensive gains were established
there by American Smelling. National
Lead. Pressed Steel Car the Republic
Iron and Steel shares and Sugar REIN
ing. Amalgamated Copper and Ana
conda Mining were also strong and &C.
tive In spite Of the somewhat reaction
airy course of copper metal in the Lon
don market. The local traction shares
hrrk tlxyal xy
dull.
Few facts and little edifying gossip &C.
companied even the more extreme move
ments In prices referred to. The days
greater part of the pressure to which the
market was subjected yesterday repre-
sented operations for the short account
and the covering of these commitments
was an influence of weight in the days
transactions.
Americans Heavy in London.
American stocks were rather heavy in
the London stock market and foreign
houses continued to sell here. although
not upon SO large a scale as yesterday.
The general London market was irregu-
lar and was affected to some extent by
the unfavorable construction placed upon
the weekly statement of the Bank Of
England. The banks official rate of dis
count was left unchanged at 2h per cent.
Money market circumstances showed lit
tie further alteration, and sterling ex-
change continued heavy. This mornings
figures showed that the banks have gained
from the subtreasury since last Friday
more than $4.40O.O0O. which ought to be
more than sufficient to offset any losses
they may have made through currency
transfers to the interior.
The days weather advices from the
grain belt were reassuring, and both
wheat and corn reacted sharply. The VOL
ume of business In stocks and in the bond
market measured fairly we'll up to recent