The Birmingham age-herald., 1908-08-23
STOCK MARKET |S
 WILDLY ACTIVE Shares Change Hands At a
 Lively Gait PRICES LITTLE AFFECTED No Reason Is Learned for the Great Activity, But There Are Hints That Something Will Drop
 On Monday.
PRICES LITTLE AFFECTED
sv THOMAS c. sHoTWELL.

New York August 22.-Manipulation was indulged in on the stock exchange to- day to such an extent that the profession als were utterly bewildered. Nobody put Thomas w. Lawson, James R. keene or Daniel G. Reid would have the nerve or means to handle the blocks of stock that were put across the floor. Steel changed hands 10000 shares at time. Unlon Fa- cifc Shelters, Amalgamated Copper ana kindred shares were handled In million dollar blocks. The marvellous fact that prices were only moderately affected is significant. Such manipulation done sim oerely would have advanced the market or broken it 10 points. The extreme move ment was an average of points.
 Attempts to account for the markets activity with a bank statement showing an increase of above $5,Oo0,Ooo in reserve were futile because money is already too plentiful in Wall street. MT. Reid issued a denial of the reports that he is in the market on either side. Denial also came from MT. Keenes office. This left MT. Lawson as the only possible culprit. If Lawson did 1t, he is undoubtedly backed by the biggest people in the street, or the money of the Bay State Gas company has gone glimmering to keep company with the other millions that Lawson has lost in Wall street.
 No news whatever came to light in re- gard to the days transactions. There was talk afte.. the close of 100000 shares or stocks to be delivered on Morday There has been a heavy borrowing demani re- gently, and 1t is generally believed that tig insiders have been holding back their own sEares while they used borrowed stocks to complete liquidation. John D. Rockefeller Is said to have done this. Col lapse of at least one stoca exchange house or of the market is expected for Monday.
 On the curb business was very quiet, with the mining shares showing strength.
 Cotton and wheat were both lower as d result of the days transactions.
 Heavy transactions in Rock Island pre- ferred were in some quarters believed to mean a transfer of control of that great railroad system. It would surprise nopody in Wall street to learn that the Reid- Moore people have lost the road to E. Ii. Hartman. Its control is held through paltry $45, 900 of preferred stock, that
 
 GOO. Parts of the system seem headed to- ward receiverships and Hartman could save 1t if he were on the control. So many innocent investors have been ruined by Rock Island stock jobbing that 1t would delight the financial world to see new management in it.
 The total number of shares of stocks sold today on the stock exchange amount ed to LOST, $50, against 319,S21 the same day a year ago. The total value of bonds sold today, $1,532 900, against $56S, GOO the same day year ago.
 Canadian Pacific officials say that the strike on that system is now in hand and Will be ended within a few days.
 of I really bought and sold all the stocks credited to my account by Wall street." said Daniel G. Reid today, I would need the Bank of England back of me. As matter of fact, am not in the market at all. My name Is being used by street traders for their own purposes"
 Hopeful ones in the market look for big demand from China this year. When the Russian war began Chinese mer- chants imported great quantities of cot ton, believing that they would get the war trade The Japanese took this busi- ness, and the result was that China was left with an over-supply of cotton. This has now been worked off and the Orient Is expected to make normal demands this year.
 Announcement was made of the offer or s17 OOO GOO Transcontinental Short Line 4