Los Angeles herald., 1909-08-25
STOCK MARKET
IS UNCERTAIN
UNDERTONE REFLECTS IRREG-
ULAR MOVEMENTS
WALL STREET AWAITS NEWS OF
HARTMAN
Prices of Shares at First Begin to Re"
cede, but Early in the Afternoon
Recovery Is Shown and
Values Advance
[By Associated Press. ]

NEW YORK, Aug. 24-Operations IN
the stock market today were governed
largely by circumstances attending the
arrival of e. H. Hartman. Almost all
other considerations were overshad-
owed by this one event.
1t was in truth a waiting Market
waiting for word, good, bad or indiiter-
ent. concerning the distinguished pas
senger on the transatlantic liner.
The "street" was showered all day
with bulletins recording the progress
Of the ship toward port, and some en-
couragement was manifested In wire
less message sent by the railroad mag
nate to the Associated Press some
hours in advance Of his landing, where
in he spoke of his condition as being
good and reiterated his statement OF
June / last, the substance of when
was that the country was going lot
ward in a highly satisfactory manner
Opening prices were q rehectlon Oh
the uncertain undertone. Inc move
ment was irregular, with tractlonal au-
vances in many of the better known
issues, which soon turned to substan-
tial losses
From this low level there was rally
and some activity until noon, when
announcement of the regular dividends
on Union Pacific common and pre-
ferred, and on Southern Pacific com
mon. gave the shorts another excuse TO
sell those stocks.
Recovery was rapid, however, and
by l o'clock practically the whole list
was above the previous days best
prices. Reading and United states
Steel were the most conspicuous issues,
the latter advancing to within a frac-
tlon of it's recent high record
Union Pacific and Consolidated Gas
advanced materially, with later move
ments In Erie and National Lead.
The market, as a whole, was rather
narrow, with a marked diminution in
the volume of business. Firmness pre-
vailed during the final hours, with some
revival of the early activity, but the
closing was dull and generally lower
than the previous day.
Among the few exceptions were Can
adian Pacific, Denver q Rio Grande,
Reading and Wabash among the rail-
roads, and United States Steel, Con-
solldated Gas, Brooklyn Union Gas,
National Lead and the local fractions,
all of which registered net gains.
London's operations here were too
trifiing for comment probably less
than 100 shares either way.
The commodity markets were again
unSeILIeu at NnlCdSo, otplclllpSi anu
December wheat options closing lower.
Corn was up on buying said to be in
fluenced by better weather conditions
in the southwest.
An acknowledged authority reported
that available supplies of wheat stocks
east of the Rockies had increased by
$50 900 bushels during last wek, with
a decrease of 693 900 bushels in Canada.
Apart from rather sanguine forecasts
regarding the earnings of the United
States Steel corporation for the current
quarter, the most interesting indus
trial news of the day was an advance
by one of the Independent mills of 81
per ton on steel bars.
1t is believed this move will be fol-
lowed by other manufacturers.
The local monetary situation was ex-
tremely dull and uninteresting. Last
weeks promises of an increased de-
mand for money at higher rates are
thus far unfulflled.
The bond market was irregular, in
sympathy with the movement in stocks.
Total sales, par value, $2,976000. Gov
ernment bonds were unchanged.