Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-08-24
F|TFUL AND NERVOUS
Feverish IrreguIarity Marks
Price Movements.
HARTMAN INTEREST KEEN
Little Speculative Activity, and
Dealings Heavy.
SPECIALTIES SCORE ADVANCES
Persistent Strength in Canadian
Pacific and So-Called Gould
Issues a Feature.
sPECrALTIES SCORE ADVANCES

Spectei 10 Tue
NEW YORK August o4.-If one we're
to accept the explanation assigned II
speculative purleus for the principa
price movements in today's stock marker
until we'll into the forenoon ne woulo
have to believe something like TINS
stocks opened disconsolately and droopeo
because the Kaiser Wilhelm. bearing the
great prestidigitator had not been sight
ed and no very definite wireless informa
ton about him had been collected over
night. Then they rallied because his al
rectcrs were TO meet around noon and
ratify the dividends with all their delight
full possibilities which he had authorized
Next they declined because only the regu
lar dividends were declared and nothing
elee said Then again they rallied on the
sighting Of his steamship. and so on
II was all very interesting as illustrat
Ing the state of mind into which large
part Of the Wall street community had
worked itself. Not the least interesting
part OF 1t was Its distant approximation
to verisimilitude. For the greater part OF
the day influential movements in securities
did not seem to betray awaiting or ant'ci'
patory moods in speculative quarters In
regard to the Developments which might
hinge upon Mr.. Harriman's return
Americans Firm in London.
London sent over rather firm price list
for American stocks. but the local opening
did not measure up to them and was es-
pecially in marked contrast with the flna
dealings yesterday.
The tone of the market in the initial
dealings this morning was heavy, and
the preliminary indications were prompt
~ borne out in more or less general
concession during the first hour under
the influence of declining prices for
Union Pacific. New York Central and
Southern Pacific.
There were numerous exceptions. but
they were not important enough to alter
the prevailing tendencies. From the first
hour on until the early part of the after
neon the price movement was one Of fit
fuf and nervous, even feverish irregu-
larity, despite the narrow range of in
terest and the contracted scale of bust
ness.
Transactions for the whole forenoon
only about equaled the amount of the
active days and price changes were ac-
cempanied by very dull periods.
Tendency to Harden.
After midday the market tended to
harden without any immediate apprecia-
bic increase In the volume of business.
although the dealings in a few stocks,
nOfdpiy United states steer common,
were in large lots. Apart from the gen.
erai price movements special features in
cfuded persistent strength in Canadian
Pacific and the so-called Gould issues.
including Colorado Fuel and excluding
Texas and Pacific. which moved counter
to the others on realizing sales, ag-
gressive yigor on the part of Reading.
firmness in the local fractions and es-
pecial strength in consolidated gas
Sharp advances were scored by some
specialties like Twin City Rapid Tran
sit and American Beet Sugar. Equally
sharp declines were recorded In Ameri-
can Locomotive and the Pittsburg Coal
issues United States Steel common dis
played notable resistance to pressure and
rose with considerable buoyancy in the
early afternoon.
News and rumors failed to account ade-
quately for the course of particular Sc
curltfes. For that matter. the market
Is full of pools and the fluctuation OF quo
tations furnish In a large number cases
their own sufficient explanation. Real
information of market-wise consequence
was conveyed by the declaration Of the
regular quarterly dividends on Union
Pacific, Southern Pacific and Brooklyn
Rapid Transit, the further strength OF
foreign exchange and the course OF
prices in the commodity markets.