Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-08-24
Saturdays Sensation in Con.
trast With DEALINGS Todav.
100000 SHARES CHANGED
Falling Away in Activity in the
Dealings.
SOME NOTABLY WEAK ONES
London Not a Factor Of Any Con-
sequence in the Local Transac-
tions-Conditions Heavy.
SOME NOTABLY WEAK ONES
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, August 24.-Discussion
and interest IN Wall street circles to-
day were much more taken up with Sat
urdays sensational performances in the
stock market than they were with today's
events. except in SO far as the latter
stood out i'm contrast with the previous
business. Up to the noon hour only
about 100000 shares Of stocks changed
hands. as against Saturdays total of
about LOO. 600 shares. This of itself was
a sufficient commentary upon the extraor-
binary manipulation at the end Of last
week.
1t could hardly be said that the actual
causes and factors in Saturdays sensa-
tional dealings were much better COM
pretended this morning than they were
previously.
That matched orders on tremendous
scale were sent into Saturdays market
was everywhere recognized. but there was
much question as to the actual fountain
head OF the manipulation. The Boston
operator received the credit or the dis
credit for much of the stock market work
saturday. but il was the general opinion
mar other factors entered into that day s
sensational transactions.
1t was believed, for one thing that the
position Of a very large short account in
the market had reached the stage where
their speculative antagonists were able
to demand a fulfllment of the contracts,
and that this was effected upon the floor
Of the stock exchange for purposes of
record. Attention was called to the fact
also that September 1 the new state law
making bucket-shop operations a felony
will go into effect. and some observers
believe that to have been somewhat of
an influence in Saturdays dealings.
Injurious Effect on Street
In all directions the market episode in
question was regarded as calculated to
exercise a deeply injurious effect upon
Wall streets legitimate business. The
average of individual integrity of the
membership of the New York Stock Ex-
change is extremely high. and there was
general disgust expressed that the facili-
ties of the exchange should have been
utilized in the manner they were Satur-
day.
A special meeting of the governing COM
mittee of the stock exchange will be
held after the close Of business today. for
the purpose Of considering the circunl-
stances of Saturdays transactions, and. to
judge from the general temper OF the
stock exchange membership as expressed
today. it is not improbable that some
stringent regulations calculated to pre-
vent. II possible. a repetition Of Saturday
practices will be put into effect.
The suspension of "A stock exchange
firm announced was not believed to have
been directly caused by Saturdays tur-
MOL. and. in fact. there was little rea-
son why it should have been, as the net
results of the dealings at the time were
comparatively small.
Tone Of Market Heavy.
As noted above. there was a great
fallins away in activity in today's mar
ket. and during the greater part of the
business session the tone of the market
was heavy. In the railway list rather
notably weak features were New York
Central. st. Paul. the Hill stocks and
Reading.
The last named may have been Specifi-
ca,ly affected by this mornings intelligence
that the attorney general of the state
had brought proceedings against the al
legged combination of coal-carrying roads,
but otherwise there was no actual news
or gossip of interest accompanying the
transactions i'm particular stocks. South
EN- Pacific and Union Pacific were COM
paratively steady
The industrial and miscellaneous shares
were for the most part weak, notably in
the cases of the copper, lead and steel and
iron stocks. American Smelling was ex-
ceptionally firm.
London was not a factor of any conse-
Guence in the local dealings, foreign in
terest in the market being very much i'm
paired by Saturdays turbulent proceed
:ngs.
The commodity markets were generally
heavy and no material change was noted
in money market or foreign exchange
conditions.