Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-09-15
MARKET IS BU0YANT
Great Increase in Interest on
New York Exchange.
BIG VOLUME OF BUSINESS
Effect of Taft's Boston Speech Is
Good.
WILD RUM0RS ARE AFLOAT
There Is Talk of Dividend Increases
and New Plans, Without
Foundation.
WILD RUM0RS ARE AFL0AT
Special Dispatch to The Star.


NEW YORK. September 15.-Strength
which at times Appropriated buoyancy
and a marked increase in the breadth of
interest together with expanding actlvHy'
characterized the stock market today.
Transactions up to noon were at the rate
NJ n-and-a-quarter-share session,
which was obviously lively forenoon Tor
a market supposed to be given over large
Nv to the dealings of manipulative pools
professional operators and quasi-profes-
sionaI traders. In fact. there was some
annarent commission house participation
In the days dealings, but 1t was prooapiy
~ a highly Sophisticated sort and not
at all likely to represent that PUBIC
interest which in the anvil street Vernacu-
lar takes q position.
The market. as a whole. reflected fur-
ther professional confidence. II not pub.
lie attention. The sentiment Of the Wall
street community having first been en-.
couraged by the way in which the marke.
acted after Mr.. Harriman's death and
by the lack of any untoward develop
ments thereafter indicative of serious
differences in important quarters has
since been stimulated by the positive
tokens of good understanding IN the
corporation and banking world, such as
were furnished by the meetings of vari-
Gus boards of directors, of which Mr..
Hartman was member.
Much stress was laid today on the
further representation of an important
private banking interest in one OF the
most powerful national banks, and
there was a disposition to attach to 1t
a far greater significance than was
admitted officially. In addition to that,
considerable satisfaction over the re-
mark of the President of the United
States regarding monetary reform and
matters related thereto.
Taft's Speech Favorable.
In fact, Mr. Tafts speech at Boston
last night was considered to have In
augurated very happily his swing
around the circle.
One effect Of it at least was to minimize
apprehension as to the nature Of the ad-
dresses which he would make In the west.
In addition to the foregoing considera-
tions a respectable aggregate of news of
furnished for Wall street consumption
during the day. which did not tend to
allay speculative confidence If 1t was not
successful in arousing 1t.
dividends on New York Central, Cleve-
land. Cincinnati, Chicago and st. Louis
preferred and Kansas City Southern pre-
ferred; the announcement of additional
equipment orders for the Baltimore and
Ohio. involving an expenditure Of about
s.. 500, 900. making a total Of $1O.0OO,0O
with the equipment orders announced last
month; the proposal of the New York
Telephone Company to increase its CAPT.
tai stock from $5O,0OO.OOO to $1OO.OOO,OOO.
In order to unite various companies for
more effective operation: the resumption
of dividends on American Ice preferred
and the announcement of a twenty-mil-
lion-dollar bond issue by the Cleveland,
Cincinnati. Chicago and St Louis for i'm
provement purposes. including the cap
italization of improvements already made.
w nj n
While substantial increases in gross con-
tinued to be shown, the st. Paul reported
a decrease OF $141.OO in net for July,
although gross earnings increased $685.
600.
Foreign Exchange Easy.
Foreign exchange manifested continued
easy tendencies and New York exchange
at Chicago remained at par. Local money
conditions displayed increased firmness.
Some early loans of an excellent character
were made at AZ per cent for over the year.
but the bulk Of the longtime accommo-
dations were furnished at AZ per cent,
with lenders refusing to make liberal
offerings. Ninety-day money was active
at 4 per cent and the ruling rate for call
money was per cent.
In addition to such real news as this,
Wall street was filled with quantity OF
much less authentic information ranging
all the way to wild rumor. There was
financial plans Of various corporations.
dividend increases and other beneficial
distribution. but nothing of an authentic
nature. Much of this talk was reflected
in or caused by the movements of par
ticular stocks. the most notable features
OF the session being B. & o.. Reading
Pennsylvania. st. Paul. Southern Pacific,
Union Pacific, United States Steel, Ameri-
can Telephone and Telegraph, Western
Union. Wabash preferred, Atchison.
Brooklyn Rapid Transit, New York Cen
trail, Louisville and Washable, Ameri-
can Smelling Consolidated Gas. Ameri-
can Sugar Refining. Central Leather and
American Beet Sugar.
Reading made a new high record price.
and Pennsylvania sold at the highest
price since the ante-panic markets. Ca
madam Pacific was persistently heavy.
and Union Pacific was for the most part
a little more than steady.
London Market.
Special cabesram to The Star.
LONDON. September 15.-American
shares in this market were strong in
the late trading on the stock exchange
in response to the better tone at New
York. and on the curb scored advances
over final prices of the regular session.
with New York Central the leader
Consols closed dull. In the mining de-
partment the final tone was irregular.
Rio Tintos closed with a net gain OF "a
to 76H. Paris and Berlin closed firm.