Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-09-11
Dealings Were Marked by Un-
certain Tendencies.
NEITHER WEAK NOR STRONG
Market Reflected Disturbing Infu-
ence Of Yesterday.
RISE IN CALL MONEY RATES
Americans Heavy in London
Reading Most Active Feature.
U. p, s. P. and st. Paul
s- Prominent.
NEITHER WEAK NOR STRONG
RISE IN CALL MONEY RATES
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, September 11.-Today's
stock market was neither weak nor strong
In the real sense of those terms and. in
fact. price movements were so irregular
and the tendencies of the trading SO un-
certain that it was impossible to assign
any definite tone TO the days dealings
as an entirety Irrespective of the net
changes at the close of the business ses-
sion. Broadly speaking. however. the
market reflected the somewhat disturbing
influence of yesterdays sharp unexpected
and unexplained rise in the rates for
money on CALI
fore. might be named in the sudden with
drawal from the money market Of a num-
Der of important lending institutions, but.
or the other hand, it was by no means
clear why they should have followed this
course.
The fact was recalled and commented
upon today that while sudden advances
in the rates for call loans, such as &C.
CURED yesterday, are often at the time de-
scribed as temporary, they usually fore
shadow some more enduring change in
monetary circumstances.
OF course. pa per cent rate for loans
on call in the middle of September is not
extraordinary and involves no hardship
upon the borrower. but Wall street was
much impressed by the fact that any
change at all had occurred when all the
accepted authorities in the money market
have been in accord in asserting that none
need be expected.
Sterling Exchange Firm.
The sterling exchange market continued
decidedly firm with the question of
gold shipments hanging in the balance
during the greater part of the day. Apart
from the general circumstances relating to
the money market. there was very little
of interest in the days situation.
The principal movements of currency
during the week pointed to a loss in cash
by the banks. and practically for the first
time this season the banks lost on their
direct operations with the interior. this
weeks figures showing an unfavorable
balance in the neighborhood Of 81. 600 900.
The currency movement for crop move
ment purposes has. of course. been un-
usually belated this year. and it would be
1t has gotten under way ii will continue
for the usual time, even If in reduced
volume.
American stocks were rather heavy in
4. ho.ioou maj net, III CoHlHloH Win the
other departments there. but the arbitrage
houses continue to operate on both sides
OF the account with only small net re-
suits.
There was little of interest to he cleaned
from the transactions in particular stocks
Broadly speaking, the anthracite coal
shares were firm. probably because OF
yesterdays decision OF the United States
Court of Appeals in the litigation against
the commodity clause of the railway leg.
1slatfon OF two years ago.
Reading was among the most active fea.
lures of the market. and other conspicu-
Gus stocks in that respect were Union and
Southern Pacific and St. Paul
The industrial and miscellaneous issues
moved irregular In common with the rail-
way list. American locomotive showed
some further reflection of the passage Of
the dividend ordered yesterday
The local traction issues were dull and
heavy.