Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-02-13
Opening Prices Uniformly
Above Tuesdays Closing.
ACTIVE ISSUES ADVANCED
u. P. and S. P. Dividends Rejuve
mated the Market.
LONDON PRICES IRREGULAR
Commission House Business in Small
Volume and Dealings Mainly
Covering of Short Contracts.

NEW 1ORk, FEBRUARY l5--At tHe
opening of business in this morning
stock market there were no vestiges OF
the reactionary tendencies which pre-
vailed in Tuesdays final dealings The
initial prices were almost uniformly we'll
above the closing figures of the previous
business session. and on a subsequent IT.
regular advance during the forenoon a
number of the active issues scored maxi
mum advances extending from one to
more than two points.
The early trading appeared to hinge in
great measure upon the decision of the
directors of the Union Pacific and South
ern Pacific upon the dividends on those
stocks. The occasional fits of weakness
which have recently been showing in
those securities led to reports that some
change in the rate was not improbable
although 1t should be said that these
rumors found no credence in well-in-
formed quarters. even if they were suf-
ficiently accepted as to lead to the fore
going declines mentioned.
Toward midday formal announcement
was made that the regular quarterly
dividend had been declared upon those
stocks, and the regular quarterly divi-
dend on sugar refining was announced at
the same time. The publication CT these
dividends was by far the most important
news during the day relating to particu-
lar stocks
Americans Firm in London.
OF developments of general Importance
there were very few. The Bank of
England's rate of discount was left I'M
changed at per cent, and the banks
1y.S at ficfo
hibit. The London stock market was
somewhat irregular. but American stocks
were firm, and operations here for for
eign account were in light volume. show
ing small excess of sales.
The business of commission houses was
IN small volume, and the dealings were
represented almost altogether by the
further covering of short contracts whip
ped along by manipulative bullish opera
lions, while the later trading showed in a
general way resumption of operations
for q fall.
Ventures of this latter description were
undoubtedly fnstigated in great measure
ness in the so-called Gould stocks and by
the failure of the Hartman issues to give
any greater reflection than was shown to
the dividend declarations on those stocks.
Missouri Pacific dropped abruptly three
points. later recovering a part of this
decline, and Western Union was again
notably weak.
Renewed Weakness in Am. Smelling
A great deal of attention was attracted
also to renewed weakness in American
Smelling. which followed upon an early
rise in that stock.
There was throughout the day much
discussion with. regard to the terms at
which the city of New York would dis
pose Of the new $5O.OOO.O 600 issue of Sc
curities to be offered tomorrow afternoon
In the curb market transactions in these
bonds were effected at 104A, and on the
stock exchange the existing Az per cents
were decidedly heavy. The general bond
market was dull and irregular. No sub
stantial changes were shown in the local
or international money markets.
The grain market was again heavy and
the continued decline there appears to
receive undue attention in It's bearing
upon the market for securities.