Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-08-13
HEAVY PROF|T-TAK|NG
General lrreguIarity Follows
Selling to Realize.
REAL STOCK ON MARKET
Renewed Buying Sends Union Ia
cifc to 2111a.
Arrrnrr HYc cTpnNC TN I0Nn0N
REAL STOCK ON MARKET
AMERICANS STRONG IN LONDON
"Pennsy" One of the Very Active
Features-U. S. Rubber Led IN
Industrial Strength.
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, August 13.-General irreS
uiarity which speedily became extensive
unsettlement, contracting range OF IN
terest and evidences that good deal OF
real stock was coming on the market
were the chief features of the days deal,
ings on the stock exchange.
Business was somewhat less in volume
than Yesterday during the more active
periods. but it was still on very active
scale. and dealings in the bond depart
ment were proportioned to the transac-
lions in stocks. prices also following much
the same course. On the whole the day
was for the most part an accentuated
continuation of Yesterdays session.
American stocks were up on the aver
age i'm London before the local opening,
with New York Central and Pennsyl-
vanfa especially strong. How much of
these advances owed their initiative to
London is open to conjecture, for for
eign transactions here substantially
were largely on the selling side, and it
was noticeable also that when stocks
opened here there was a preponderous
disposition to sell rather than to buy
on the strength of the London quota
tionS.
initial dealings, and of these the adj
vances in Pennsylvania and New York
Central were about only half those re-
ported from London.
"Pennsy'' Sold Off.
Thereafter Pennsylvania sold off more
or less continuously until it was about
point down from last nights close. This
was around midday. New York Central,
on the contrary, displayed advancing
strength for a time, and then sagged
back to the opening again. The course OF
new York Central was related in gossip
to the movements in the so-called Harri-
man issues. The imagination of Wall
street was very actively at work in
respect to the disposition, speculatively
or otherwise. to be made of the cash in
the treasures of the Hartman railroads.
well as of the equities in the very
profitable speculations already made, and
represented by the securities reported as
assets on the balance sheets of these
railroads.
This imagination was further infiamed
today by the violent conduct of Union
Pacific preferred, which advanced per-
pendicularly and altogether out of line
with related stocks. The consequence
of this was that conjecture was disposed
TO dismiss for the time being the suppo-
participate with the common in the dis
tribution of treasury benefits and to sub
stitute instead a surmise as to the posi-
bility of exchange or retirement of the
preferred on favorable terms.
Sharp Rise for Two.
1t was only with regard to this particu-
lar stock, however, and with regard also
to Twin City Rapid Transit. which rose
sharply to the accompaniment of talk
about a prospective increase in the divi-
dend rate. which is now ) per cent. that
the days price movements encouraged in
Quiry for news or views.
The course of the rest of the market
was such as to stimulate curiosity as TO
who was doing all the selling. From frac-
tional declines around the opening. the list
sold rather steadily off. despite fitful
periods of hardening, until in the early
afternoon quotations were point or more
below last nights final figures. !.
Among the issues most heavily pressed
for sale were Pennsylvania, Great North
ern, Illinois Central. Northwestern, Read
ing. the Rock Island issues. st. Paul.
Amalgamated Copper, Great Northern
Ore and l.. s. Steel. Strength in the
industrial quarter was very largely con-
lined to L. s. Rubber. which rose sharply
on the condition of the company and its
business
Profit-taking sales from other than
mere trading sources were presumably
to account for the general trend of the
market today.