Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-08-14
Adds Notch in New High Rec
ord Stock Today.
S. P. ALSO RISES SHARPLY
N. Y. Central and U. S. Steel Con
spicuously Strong.
REST OF THE LIST STIMULATED
General Market Noticeably Improv
ed Because Disturbing Influences
Were Absent.

Special Dispatch to The Star.
NEW YORK. August 14.--Grcatel
steadiness was obvious in the stock
market In the earliest dealings today
There was no continuation of the fren-
lied scramble for the Union Pacific is
sues. and consequently none of the
deleterious influences which that wild
operation exerted on the rest of the list
yesterday afternoon. The opening, in
deed, was irregular, with u preponder-
ance of declines, but most of the
changes were of fractional insignifi-
canoe. the notable exception being Union
Pacific preferred. which opened wide
about point down.
The frregularity did not extend, how
ever. nor increase the size of the de-
clines. On the contrary. prices tended
TO harden in the early dealings on the
absence of any apparent selling pres
sure. seeing which. room traders hasten
ed to cover their short commitments.
and the covering movement spread from
them to other spectators, becoming
particularly urgent in the case of United
~ more than point in the first hour.
New York Central was aggressively
strong. and the conversion of a large
number of standard issues to firmness
or strength stimulated the rest of the
list
Leaders in the Recovery.
Leaders in the recovery were. outside
the stocks already named. Chicago and
Northwestern, Pennsylvania, Reading and
the Rock Island issues in the railroad
Quarter. while among the industrial stocks
the rally was general. Peoples Gas once
more displayed buoyancy, while Central
Leather and National Lead were agrees
|SiFely strong. There were no develop
mentS to be cited in connection with the
course of the market other than the char
|acteriStics which declared themselves in
Ifhe early trading. The market improved
because the disturbing elements were
wanting which displayed themselves yes
Iterday.
The routine summaries of week end
news continued favorable. Bank clearings
Throughout the country maintained their
weekly rate of increase al about 20 per
cent. The representatives of commercial
agencies told of developing business with
the additional interesting feature of no
obviously depressing effects from tariff
|revision.
Foreign Exchange Declines.
Foreign exchange declined from Is to-
loo points during the week on the recent
focal hardening of money rates and the
Further negotiation of security loans
|ebroad. together with the staple export
movement. The condition of the ex-
|change market is such that the gold ex-
fport movement has probably been check
led. and II interest rates rise sufficiently
Lhere there may be a return flow this fall.
i In the last hour there was renewal of
Vigorous buying in Union Pacific, which
|earried the price up TO a new high record.
| Southern Pacific also rose sharply,
Rsvhen Union Pacific. preferred. advanced
'Also. New York Central and the United
Estates Steel stocks were conspicuously
strong.
The market was very largely confined
TO activity in the issues just named, and
the close showed irregular price changes.