Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-08-23
DR|FTWASDOWNWARD
Early Strength Did Not Endure
Very Long.
MARKET SOLD OFF QUICKLY
Selling Throughout Session of the
Scattered Sort.
L. & N. LED RAILWAY VIGOR
Hartman Stocks Suffered the
Most Extensive Losses-Business
Volume Less Than Saturday.
L. & N. LED RAILWAY VIGOR
s,ec,al p,spatch to The Star.

Special Dispatch to The STAR
NEW YORK, August 23.-Stocks drifted
during the greater part of today SEES
S;on and for most of the time and ior
most of the list the drift was DOWNWARD.
THE opening was fairly active and gem
orally firm to strong with material 1rac-
tionaI gains all around and sharp advances
in some issues and with very Few con-
snjcuous executions. The early strehSlh
did not endure, however
The market sold off quickly under some
pressure rallied fitfully and then sagseo
&c business contracted to meager proper
+iops In the early afternoon there was
.Irnost a stagnation of business. such
+rapsactions as there were being qui'e
u-bol1v professional. Speculative wan
.trea+ seemed to be waiting to be ra'heI
more disposed to get rid of the loose eilus
of old commitments for the lohs
count than to make new ones e..os
- yorl. Central and United States
PI,bber were noticeably heavy IN tHe
carly dealings They soon had COMPANY,
and for the major part or the s 'ssa,'oa
about the only stocks OF any conSeauII,
which held their own. or more imam n iI
tbair own were Louisville and NasnViiie,
tho Wabash issues and Iexas an
among the railroads. and CONSEQUENCE sl ~,
Gas General Electric. People Ids au
IT, o. named stock made particularly
,.iporois advance. accompanied DS puiilsh
orts Of the company's business pros
poets. - odd
Texas and Pacific to the tail OF the mar
;man kite with stories of purchases
for Southern Pacific interests. put tnis
exclamation failed to account LOT .lle
sympathetic movement in the "apasies
Declines From Saturdays Close.
The Hartman stocks themselves and
those which have been most closely lden-
tilted with the movement in them scored
the most extensive losses OF the day. tile
declines from Saturdays close averaging
we'll over a point and half IN the early
afternoon for Southern Pacific Union Pa
cific New York Central. Illinois Centrai
and Pacific Mail.
outside of these Reading was very
heavy. and in the industrial quarter
American Smelling and United states
steel showed the most conslderaole Ell
fects of selling pressure 1he seillhS
throughout the greater part of the SEES
sion was OF a scattered sort. "hile
there was no appearance of conceh-
trated buying except, perhaps, Tor Tor
eign account, and that was only 10
moderate amount
What happened III the market seemed
"a ba that the accumulation of buying
orders over the week end was only SUI
4icient to absorb the scattered liquidation
in transactions and that the Hquidation,
such as it was, was not very importan' III
it's origin and probably only or left-
over sort induced by past reaction con-
siderations The market was. generallS
sneaking too inactive for beafish opera
Tors to risk much stock
Marrow Range of Interest.
The dealings of the first hour We're on
about the same scale as in the first hour
Saturday, but for the whole forenoon the
volume of business was much less than
SATURDAYS and thereafter the contrac-
ton in business was marked enough TO
arnohasize the narrow range of interest
The stock market community mad very
little in the way of outside developments
TO engage it's attention during the DAY.
Narketwise news was of routine sort,
and such consideration as was given 10
any subject outside the price movements
on the stock exchange was largely de
voted to the reiteration of conjecture and
surmise, which have hinged on the prog
ress of Mr.. Hartman TO these SHORES 10
the point of becoming tiresome
The local money market was very near
" stagnant for time loans. New York eN-
change at Chicago went to 40 cents dis
rornf however mad il is obvious that
in no very long time money conditions
will become much more active.