The Birmingham age-herald., 1909-08-14
WEAKNESS SHOWN
 IN STOCK MARKET Union Pacific Occupies Center
 of Trading Activity SELLING IS VERY HEAVY In Spite of Advance of Union Pacific
In Spite of Advance of Union Pacific Stocks Turn Downward and Close is Weak With De-
 cIlnes All Round.

New York August 13.-Operators in the stock market today concerned themselves Aalmost wholly with the affairs of the Union Pacific. Rumors of coming f1nan- eral developments in this property con tinued to circulate in great variety. They were so far lacking in authentic con- firmation that the effect thinned out con- siderably and did not serve to hold the general list of stocks against the pressure of realizing sales, which were pushed con- stantly throughout the day. on the Union Pacific stocks themselves the cur rent rumors did not lack vigorous lh- fuence as shown by the days advance to 215 for the common stock and llS for the preferred stock. The special prominence of the preferred stock was due to stories of new claims discovered for that stock to participate in any plan for the stocks sharing in the benefits of the company's investments, such is pointed to by the reports that have been prevalent for the last few days. It is expected that means might be found to retire the preferred stock on terms advan- tageous to it's holders to clear the way for the common stockholders exclusive claim to the proposed plans.
 The terms of that plan continued to be very vaguely outlined and the time of its adoption very indefinitely indicated in the rumors, while there was no authorita- tive announcement of the matter. The ap- pointment of committee of officials of the company to consider a plan for seg- regating the investment holdings of stock of other companies was made some two years ago with an intimation that it would be taken up when conditions be- came settled after the panic sufficiently to make. it feasible. The fact that such conditions might have been regarded as restored long ago led to general as sumption in the minds of the public that 1t had been abandoned. A substitution of a new security for part of the old stock was then urged as promising the ad- vantage of greater facility in open mar llet dealings even with no actual change in the dividend disbursements Union Pacific's 10 per cent dividend now is expressly designated as per cent from railroad operation and per cent from income on investments. It was urged furthermore, that an increase In the div idends if allotted to different securities would not seem so sensational In way considered undesirable by financial mana gers, owing to the effect in arousing pulp lie sentiment
 The general strength of the market at the opening gave place to a spotty show ing of advances here and there which thinned out until the Union Pacific stocks were left practically alone at the higher levels. The preliminary estimates of the currency movement also give ground for some hesitation in speculation extension.
 The movement of funds from the in- terior shows marked falling off. the bal ance of receipts on the express move ment falling to below s2,00ooo0, compared with upwards of s4,000,000 last week. This weeks receipts are pronounced the light