Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-08-24
The Markets.
NEW YORK STOCK MARKET.
Features of the Days Dealings in All
The Leading Stocks.

New York. Aug. 23.-From the irregular
and reactionary course of prices today
1t is very clear that the stock market is
still in highly sensitive state and de-
pendent largely upon developments of the
next few days. Foremost among these is
the health of E. II. Hartman, concern
ing which the usual conflicting rumors
and statements We're again current but of
which more definite knowledge soon
ought to be obtainable. The day brought
the usual grist of over-Sunday news,
which told of the progress of the harvests
and conveyed broad limitations that re-
cent reports regarding the damage to
corn might now be accepted with some
reservation. All reports agree. however,
that the cotton crop continues to suffer
from lack of rain.
Traffic officials of the leading railway
systems in the Middle West are virtually
unanimous in their declarations that bus
mess is steadily mounting higher, in
some instances beyond all expectations.
will: an especially large movement in
the demand for finished products is so
keen at Pittsburg that premiums are be-
ing offered for quick delivery. Foreign
adviCes were cheerful in the main. all
though London consols and other high
class securities were heavy on fears of
golG exports presumably to Paris. Con-
trarywise. Berlin cables were most opti-
mistic with. reported steady betterment
in Germany's industrial condition. TAX
ing it's cue from London, where Ameri-
cans. especially Union Pacific We're very
active and strong, our market began OPP
erations in much the same fashion.
The advantage was fleeing. however.
vigorous selling of the Hartman issues
soon wiping out all advances and by noon
prices of Union Pacific and Southern Pa
cific were under last Saturdays lowest
quotations. while strong pressure was be-
inc eXerted upon Reading and United
States Steel. Coincident with the de-
cline in the Hartman issues was state
ment that no changes would occur IN
the dividends in Union Pacific and South
ern Pacific at the directors meetings to-
morrow In sharp contrast to the other
railway shares was the strength of the
Could issues. Texas & Pacific. Wabash
and Denver & Rio Grande all displaying
| firmneSS. ,
business on the Exchange fell off in the
afternoon session. the volume of tranSac-
tions up to o'clock barely reaching the
average of the first two hours of trading
on several days of the past week. Prices
rallied some what before the last hour,
| when the street received word that
| Mr.. Hartman had sent assurances to
his associates from the ship now bring
ing him to port of his good condition.
effect but in the final trading there were
sharp rebounds in Union Pacific South
ern Pacific and United States Steel
which carried them well above the pre-
was in progress when the market closed.
The money market developed no new
feature The recent tendency toward
higher rates has been changed by last
weeks heavy liquidation in stocks, ma
iorty of the leading banks with Wall
Street affiliations showing reductions in
their loan accounts.
The bond market was easy with only
moderate trading in the better known is
sues. Total sales. par value. amounted
SIS advanced IL per cent. and the regis
tered As IA per cent. on call.