Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-09-02
Many New High Levels on New
York Exchange.
SOUTHERN PACIFIC RECORD
Vermont Election Result Had Good
Effect.
RAILWAY LIST IS ANIMATED
Industrial Shares Not So Strong.
London Market Is Firm-Ameri-
can Stocks Active.
SOUTHERN PACIFIC RECORD
RAILWAY LIST IS ANIMATED
Special Dispatch To The Star.


NEW YORK, September MANY new
high levels were scored at one time or
another in today's stock market, some on
the current upward movement, while in
the instance of Southern Pacific a record
breaking quotation was established. There
was a moderate increase in the volume of
business and wide and general distribu-
ton of speculative interest.
Specifically the chief source of the
markets animation was the outcome of
yesterdays state election in Vermont.
which was generally regarded as being
satisfactory and as suggesting a republi-
can victory in the general election in
November. 1t was pointed out that even
after allowing for the reduction in the
republican majority in Vermont, a COR
responding reduction in the republican
vote in the presidential election would
still leave a huge popular plurality for
Mr.. Taft In November.
Inasmuch, however, as the stock mar
kct has ruled decidedly strong for many
weeks it would seem to be questionable
whether the Vermont election could he
correctly designated as the source of the
strength of the market today.
American shares were favorably inf1u-
enced in the London stock market, ac-
cording to the early cabled advices, by
the outcome OF the Vermont election. and
foreign houses were buyers here upon a
much larger scale than has been noted in
a long time. their purchases being esti-
mated in the neighborhood of 10000
shares. 1t was reported that a consid-
cradle proportion Of this buying had its
origin on the continent.
Whether or not the Vermont election
should be named as the chief factor in
the tendencies of the stock market, it was
the only occurrence of novelty in the
mornings situation save for those of a
routine character, such as statements of
earnings anu dividend announcements.
The intelligence of the forthcoming in
crease in the capital of the Canadian Pa
cific was the most important news relat-
ing to any particular stock, and Canadian
Pacific was in consequence comparatively
heavy.
Baltimore and Ohio Strong.
Leading features of the railway list
were Baltimore and Ohio, st. Paul. South
ern and Union Pacific and Reading. Bal
timore and Ohio benefited particularly
through the purchases for foreign ac-
count.
Generally speaking, the industrial and
miscellaneous shares were less strong and
animated than the railway list, although
Consolidated Gas continued to exhibit eX-
ceptional strength. The United States
Steel stocks were steady, but elsewhere
price movements in that quarter were ir-
regular and comparatively limited. Brook
lyn Rapid Transit furnished the bulk of
the transactions in the local traction
group, but that stock also fiuctuated in an
irregular fashion.
Money market circumstances showed no
material alteration and the foreign ex-
Change market was steady.
The commodity markets were all firm
notably for wheat and there was no little
discussion during the day with regard to
the exhibit likely to be made in the gov
ernments report upon the condition of
the cereal crops, to be published shortly.