New-York tribune., 1908-10-07
FINANCIAL AFFAIRS
STOCKS IRREGULAR.
Foreign Outlook an Influence, bat
Manipulation Erident.

To some extent the stock market in the early
trading yesterday was Influenced by the ad-
vices from abroad concerning the outlook for a
peaceful settlement Of the complications arising
from the proclamation Of Bulgarian indepen-
dence and the taking over by Austria Of the
provinces Of Bosnia and herzegovina, the open
ing prices of the leading international stocks
being about a point above Mondays close. on
the more reassuring nature Of the foreign cables
although the London market was reported weak
and unsettled at the close, But the foreign stu
alton did not long continue factor in shaping
the course Of the days prices. and during the
rest Of the session the record that Of
series Of rather violent ups and downs, repre-
seuting manipulation Of one stock or group after
another. the close being highly irregular, with
about many net losses as net gains The
business was almost entirely professional. ef-
forts TO attract the outside public proving S
fruitless as ever. The largest transactions were
in Union Pacific, which advanced sharply IN the
first hour, and then suffered the wide fuctua-
tions common to the list, showing in nlid-after-
noon loss Of 2 Il points from it's high Of the
morning and recovering 215 points at the close,
which represented a net advance for the day of
the sane amount
From Union Pacific the attention OF the oper-
arors was turned toward noon TO Northern Pa
cifc, which bid up vigorously on reports
that the directors at q meeting TO follow the
stockholders annual meeting would declare the
long looked for extra dividend. which must be
declared before the end Of the year, if at all.
decided not 70 hold their meeting until to-n1or-
row, and interest IN Northern Pacific dividend,
and with it the price Of the stock, which sold off
nearly three points, 10 1884,. The close was at
1z1$, fractional net decline. The most extea-
sive gains Of the session were made by the Rock
Island issues, Rock Island preferred rising to
50 on heavy buying. presumably for the Reid
interest, and closing with q net gain Of Al
points at 913, and the Frisco first and second
preferred gaining. respectively, 8 and 2 points.
The news Of the day small, perhaps the
most important item being the fling Of the gov
ernTnents appeal il the commodity clause case
which may have induced little Of the selling
There were no fresh developments in the polit-
tcal field and no general consideration was given
the political outlook although with the national
campaign in its closing weeks the market is
sensitive TO news or rurnors.
The money market continues easy. The rate
for call loans touched per cent and did not go
above ~, its usual maximum nowadays Time
funds were in small demand and at UNCHANGED
rates for most maturities, although some six
months money was reported as loaned at per
cent, comparing with the current quotation Of
81 bid and 312 asked for that period The for
eign exchange market was frrner, rates for de-
rnand sterling advancing Is to 20 points as a
consequence OF the sales Of American securities
for European account because Of the threatening
aspect Of the Balkan situation.