The Birmingham age-herald., 1910-09-01
TRADING IN STOCKS
 IS VERY LIMITED
Month of August Comes to a
 Close in Quiet Manner
BROKERS ARE WAITING
Prosperous Conditions are Indicated Among Railroads ard Industries Which Give Firm Tone to
 the Market

New York, August 31-The month of August came to a dull and uninteresting close in the stock market today The dealings lapsed into idleness and prices drifted listlessly No one showed willing ness to take decided stand in the spec ulation The number of developments ahead which are deemed important from the speculative standpoint might account for the determined waiting attitude. The early part of September is to bring the government reports on the various crops, the Copper Producers association sta- tistics, the United States Steel corpora ton statement of thrilled tonnage orders on the first of the month, besides various political events for which a growing in terest is being shown in the specula- ton.
 The end of the present week brings a triple holiday. To bridge an interval be- fore these expected events begin to oc- cur, some occupation was provided in the financial district in the preparations for the money settlements, otherwise the dis position was to sit and await events. The September payments will amount to $92, ,4S3, 900, according to the computation of the Journal of Commerce, and the details of the estimate show that the amount is s12,O49,OOO greater than in Sep tember of last year with $S,459000 of that amount on account of increased dividend disbursements. The growth of the pros porous conditions thus implied has some effect in maintaining the firm undertone of the almost lifeless market.
 The remainder of the increase TOT ln- terest account is due to the additions , to bond and note issues since last year. Various companies published their an nual reports in the course of the day and there was also seen an enhancement or profits which was reflected in the upward movement of several individual stocks.
 The strong current of cash money away from New York was a factor in the suspense in which the suspension in the stocks was held Sub-treasury operations s have taken from the banks already since the last bank statement $6,4s6Ooo, and : shipments to the interior and to Canada are being made on large scale. The effect is shown in the rates for time loans, which have been marked up a fraction and in the call loan market, which is ruling frmer in spite of the small demand. The private discount rate in Berlin declined. The action of the London discount rate left opinions divid- ed over the probability of an advance in the official rate of the Bank of Eng land tomorrow. The foreign exchange rate rose again and away from the point of profit on gold engagements in Lon- don today to which it was tending.
 The late course of the foreign ex- change market was taken as an indica- - tion of a Likelihood of rise in the Eng fish bank rate
 The character of the testimony being offered by railroad officials in the rate hearing before the interstate commerce commission invites to discussion in the stock market, and to very fixed views as to the probable effect on stock prices. Any strengthening of chances for higher rates are calculated 10 Gepress values. The conflict of these factors is an ele- ment in the hesitation shown in the speculation. Reading, Union Pacific and United States Steel again absorbed the bulk of the dealings.
 Aggregate sales of all stocks fell to a total of 160,000 shares and when from this is deducted the 96,100 shares of the three active stocks mentioned the nar- rowness of the general market may be appreciated. There was a day in July, 1908. when the days sales reached only 5 73000 shares. Today's tothl was the small est for any day since.
 Bonds were irregular. Total sales, par value, H,252.O00 United States bonds were unchanged on call