The Washington herald., 1909-08-15
WALL STREET NEWS
Union Pacific Again Feature
of the Market.
STEEL TRANSACTIONS STRONG
Advance OF Two Points I'm New York
Central Associated with the Prev
aieDt Impression that Union Pa
cifc Has Increased It's Holdings
and Hartman Has Great Influence.

New York, Aug. 14-Keen speculation
In Union Pacific was again feature OF
the market to-day. but it was not so dis
tinctively the feature OF the market as
was the case yesterday.
To-day the transactions In Steel com
mon were greater Than In any other stock.
and speculative interest seemed moro
broadly distributed.
t. The advance IN Union Pacific, though
decided. was not as abrupt or sensational
as that OF yesterday. and IN the preferred
stock the closing price showed no ma
teriol change from yesterday. AS a whole
the market movements were more orderly.
with greater uncertainty in the action OF
the various stocks. The market appeared
uOre rational.
Reports regarding Union Pacific differed
in no particular from those Of previous
Gays. and were similarly lacking OF Of
fetal confirmation. Obviously. however,
they had not lost their influence on the
imagination of spectators. who are by no
means unaccustomed to look for dramatic
development from the Union Pacific sys-
TENS.
Central Gains Two Points.
The sharp advance in New York Cen
trslsswhlch closed points above Penn
sylvania, Notwithstanding a gain OF a
point by the latter was associated with
the prevalent impression that Union Pa
cifc has increased its stocxholdings in
New York Central. and that Mr.. Harri-
man and his associates are 70 have IN
the future greater influence IN the man
agement Otherwise the reports accom-
panying the general rally in stocks con-
provement. as indicated by the weekly
trade reviews and other compilations
from various trades. Such of these as
related to the steel and iron industry
were particularly impressive. for they
indicated that the steel retail business.
which had been relatively backward up
20 this week, has again assumed normal
proportions
A report widely circulated IN reference
20 the shares OF the United states Steel
Corporation predicted an early conclu-
sion of the longpeudlug arrangements
for the listing OF certificates represent
Ing the common stock on the Paris
Bourse.
The market was again very active,
afording no indication that the high
prices had brought any diminuton OF
broad public interest developed in the
course Of the week
Close 10 High Level.
Prices at the close were close 80 or
above the high level OF the year. and
though heavy realizing sales have
been made throughout the week. the
market seemed as strong Is at the
beginning. The advance has no doubt
brought on the market many stocks
bought az the low prices OF 1907 and 1903,
but all such offerings have been taken
without the appearance Of any weakness
IN any one issue
The money situation. as disclosed by the
bank statement. was quite as strong as
was expected. The actual surplus Of the
clearing house banks was reduced but
5000 400. O. reduction OF 100000 in loans
otfsettng 20 a considerable extent the
expected decrease in cash holdings.
|. The surplus shown i'm the actual state
meut. So. 716.OoI is we'll above the aver
age of the past ten years.