Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-08-20
Conditions Continued Very
Much Unsettled Today.
TRADING TONE FEVERISH
Heavy Stock Selling Again Conduct
ed by Same Houses.
GRAIN MARKET WAS STRONG
Renewed Weakness in New York
Central and Rock Island Po-
tent Influences.
GRAIN MARKET WAS STRONG
Special Dispatch to The Star.

Specisl DiSpdtcn TO Inc star
NEW YORK, August a0-The stock
market continued very much unsettled
today. and even on such rallies as occurred
from time to time incidental to the extent
of declines the tone of the trading was
quite feverish. Losses extending from
one to two points were fairly common in
the various departments of the market.
Trading was conducted upon about the
same scale of activity as Of yesterday.
For the various characteristics of the
days stock market it was difficult. and. in
fact. impossible to assign any other than
technical explanation. Heavy selling of
stocks was again conducted by the same
set Of houses which have been active in
the same direction throughout the week.
and while these firms are very large Dor
rowers Of stocks in the loan market. few
persons consider that their requirements
IN this respect represent actual commit
ments upon the short side of the ac-
count.
Foreign houses We're moderate sellers
In the local market also, although
American shares were quite steady in
the London market. The Bank of Eng
lands rate OF discount was left I'M
changed at 21a per cent. and the banks
weekly statement was the strongest
exhibit made In several years
Local Money Easy.
Locally. money on call again loaned
under 1 per cent and could be obtained
practically upon the borrowers terms
for longtime periods.
The grain market was strong and the
cotton market weak. but the market
course Of the commodities was not ap-
parently an influence In the dealings in
fta- RI loo
were generally favorable.
Politics. for no well defined reason.
appeared to play some part in the
weakness of the stock market. and
ments in that regard, it seemed to be
the consensus of opinion that a ''politi-
cal scare was inevitable at some time
between this and election day.
Influences on Market.
A very plain influence on the days stock
market was the renewed and pronounced
weakness in New York Central and the
Rock Island shares. The date for the
declaration Of the dividend on New York
Central is sufficiently close at hand as to
arouse much uneasiness to the figure to
be fixed; especially in view Of the earn
1ngs Of the company, and more especially
on account of the market course of the
stock. There was nothing novel in the
discussion relating to the pressure upon
the Rock Island shares. 1t is the common
opinion that some sort of readjuStment of
the complicated affairs of the Rock
Island system Is inevitable, but there Is
nothing novel In that view of the case.
Declines of as much as one full point
were noted elsewhere in Baltimore and
Ohio. ST. Paul. Canadian Pacific, the
Hill stocks, Union Pacific. Chesapeake
and Ohio. Reading and Louisville and
Nashville. Southern Pacific showed
certain degree Of resistance to the gen.
eral tendency of the market.
The most extensive declines in the In
Gustrial and miscellaneous shares were in
National Lead. American Smelling. Anal
gamated Copper and American LOcomo-
tive. Nothing at all in the way of actual
news or interesting gossip accompanied.
however, the transaction in any Of the
stocks mentioned.