Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-09-24
TRADING D|SP|R|TED
Today's Dealings in Greatly
Reduced Volume.
lNDUSTRIALS FEATURED
Over Half of Transactions by Three
Stocks. \
"PENNSY" STILL ON THE RISE
Mackay Companies and Central
Leather Scored Sharp
Advances.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, September 2.-Dealings
In stocks were of no particular apparent
consequence for the greater part of to-
days session. In general the price move
ment was very much the same as during
the corresponding periods yesterday, but
business was in greatly reduced vol
une Despite the number Of issues
traded in. the market was relatively
narrow.
Transactions in the first hour aggre-
gated about 100000 shares, more than
three stocks-Reading, Union Pacific and
United States Steel. Very much the
same state of affairs characterized the
dealings from hour to hour thereafter,
although the identity of the more active
issues changed somewhat from time to
time
The opening was irregular and the mar
ket continued Irregular we'll into the
afternoon. Industrial stocks as has been
the case for the last week, display ed
more all-around strength than did the
railroad. Consolidated Gas and American
Sugar Refining were aggressively strong,
and the United States Steel stocks Of
fered very firm resistance to selling pres
sure. Among the industrial specialties
the Mackay companies and Central
Leather scored sharp advances.
In the railroad list Pennsylvania con-
tinued to display the same tendency to
rise which has been in evidence for sew
eral days past, although it has been a
tendency contradictory to the general re-
dictionary tone of the market.
Canadian Pacific rose sharply, but this,
although an important issue, is a stock
which could double in price without ex-
erting the least influence on the rest of
the list. Union Pacific and Reading espe-
cially the last named stock fluctuated ex-
tensvely, but it could not be said of
either of them that it manifested weak
ness
Local fractions Vary.
The local traction issues moved in vary
ing directions and Third Avenue was the
heaviest stock in the room, undoubtedly
because of the INSTRUMENTATION move
of the public service commission Apart
from this particular item of intelligence
there was apparently nothing to be cited
in connection with the course of any
stock on the board.
News of marketwise consequence con-
sisted almost exclusively of reports OF
railroad earnings with the exception of
the announcement of the $4,000, 900 New
Haven stock issue which the stock hold
srs are to be ash shortly to authorize.
This stock is be issued for future
ueeuS, according " the necessities OF the
future. 1t was reported today that the
output for 1910 would confer rights on
the outstanding stock and per cent con-
vertible bonds worth 10 to Il per cent.
The circumstance is noteworthy because
the New Haven is practically the first
d the major corporations to come forward
with new financing likely to be done on
terms in line with the expectation which
The stock market has been fostering re.
garding many of our large enterprises
Railway Statements.
Among the items of railroad informa-
ton made available today was the annual
report of the Central Railroad of New
Jersey. showing a decrease of S1,lv.,4 All
in gross earnings and a decrease of $685.
600 in the balance for dividends, making
the earnings on the stock about 16b mel
cent, or more than l per cent less than
was earned last year.
Lehigh Valley reported an increase OF
S92.COO in August gross earnings, and an
increase of $4,000 in net, making the re-
spective increases for the first two
months of the fiscal year $4,000 and
S2i50OO. Lehigh Valley stock by the wa,
alternated feverishly between strength an(
weakness in the Philadelphia market to-
day.
The money market was extremely dull
Preliminary compilations Of the move
ment of money indicated cash loss by
the banks on this weeks transactions
ranging between $4,000, 900 and $4,OrOOOO
New York exchange at Chicago remained
practically at the level to which it fell
earlier in the week