Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-08-11
SPECIALS SUSTAINED
Irregularities, However, Mark
ed the Dealings Today.
GAINS EXCEEDED LOSSES
Stocks Were Offered for Sale Rather
Freely.
coPpERs WERE VERY STRONG
louisville and Nashville Featured
Movements for Strength-Con-
solidated Gas Suffers Decline.
coppERs WERE VERY STRONG

Special Dispatch TO The Star.
NEW YORK. August 11.-Tradlh2 com
ment on today's stock market, espe'i'ii y
around midday. was that 1t looked tlreu
The adjective was especially descriptiNs
and not very inaccuratcly applied, despi''
the exceptionaI iirmncss OF a few prom
nent issues The days business dio NO
start with exhibitions of fatigue, Tor az
tiyItv aud prevailing strength chaiactei
lied the opening in sharp CONTRAST VIII
the dizziness and irregularity which rnief
Yesterday afternoon.
StocLs ir, yesterdays market pracucdhS
marked time. there being almost no ap-
narent change In the average Of prices al
the close. In the initial dealings TO-DAY
,be movement was such 49, ia indicate
that the market would not stay III inc rh''
but the promise WAS hollow
The few stocks which were shaded ~
tho early transactions became "a -
number during tic forenoon and from ir-
regularity of slight consequence Inc pflcs
liSt turned 10 on extensive unsett'ement In
which declines IF substantial fractions
were shown. the Sentmen al erect oi
which was not offset by the advancing ne
ure of half dozen or so standard issues.
Some selling which seemed TO be m
pressive in its origin was detec'ea IN ,.lc
early transactions and the trading elc-
ment acting ON this and the general ap-
pearance of the list sold the market ten
tAtively. ,
Not much headway was made Ill dis-
lodging stocks un to the middle OF inc :
afternoon and, indeed. business tell on
considerably on the declines, Whiie tneIe
vas a noticeable contraction in the vol
ume of bond dealings.
Notable Exceptions.
New York Central was one of the eN-
reptions to the general course of the
market, opening firm and selling off with
the Others but recovering. Pennsylvania
was steady the greater part of the day
as was Denver and Rio Grande North
ern Pacific rose sharply, and Great
Northern reflected the advance. The
Rock Island issues fluctuated over mod
crate range, but displayed nrm under
tone.
AmaIgamated Copper were very strong,
,Inauestionably In consequence OF the pro-
ducers' report made yesterday, which was
followed today by a further advance IN
the price OF the copper metal.
Consolidated Gas was also strong
exception to the general rule, which
brought many issues together In the
category of declines ranging from
quarter of point to point.
real feature of the days price move
ment It opened with a substantial
gain. subsequently displaying advance IN
strength in continuation of the course
on which II recently set out. There was
TO account for this d circumstanttal
rumor of a pending stock issue for the
purpose particularly of distributing
BENEFITS to stockholders.
The story may or may not De rue ,s,-
there was no evidence forthcoming, out
side that furnished by the changing quo
tatiens-but there Is this much which may
have to be taken into consideration IN
Wall street calculations. namely, thar
the story itself suggests coming chanSe
In the order of American railroad finance.
influence for Railways.
The tendency of government taxation
and regulation. especially of the rail-
roads. individually provides powerful
incentive to a departure from traditional
American methods.
It Is quite possible that in the future
there is likely to be seen in this country
a marked disposition on the part OF the
railroads TO capitalize all possible ex.
penditures and to distribute all possible
profits to stockholders. instead of piling
up ecu ties which may excite the greed
OF government or the cupidity of politi-
clans.
Outside Of the stock exchange the most
interesting developments of the day were
furnished by the time money market,
which was active for sixty-day loans at
"a per cent and increasingly active for
oyer.the-year money at per cent