The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-09-27


Upon only a slight incr"a-" TODAY
/ from the recent average vnluma II da lly
transactions the stock market Was gen
orally and decidedly strong Many p.'oplr
! in Wall Street went no further "a their
explanations for this than IN" fast that
Reading common stock moved upward
With especial hri-Sus-S. making an sN-
trntna rise for the day az one time 20
over four points This ln itself undouh
cdIv IN such narruS market az the
present caused IA good deal 10 syInpa-
thetlc buying 81 other stocks A. far
a. Reading - concerned the argument
adduord in favor ~ It at the moment
u one that. IL must he confessed. has no
It'll" substance at least from sp-cu.
latlvr point 10 view and that IL that the
annual reports ~ ths Reading and ten.
trail Railroad II New Jersey companies
Just published Indicate that il is IN the
I'"~er Of the Reading company 10 Ell
large its present rate - dividend distri
button and 10 make ia addition II u Chus <ss
a special distribution of no inCunsidrr-
alb" sIl". Ia conservative quarters TO
day No expectation ~ any immediate
action ~ this sort was Ked IN, hut
the influence 81 the matter a. "A stock mar
ket factor IL nevertheless logical Again
to-day market sentiment was unpues'
'iunahly helped by the action taken by
the representatives 10 the great labor
unions in the railway world in uphold
M. and IN the strongest way. tho claims
OF the railway companies Of the country
Tor higher freight rates now being pre-
seut"d. The importance ~ this deve'-
opment IL Of course. first. that " gives
evidence of a greater unity nf interests
and feeling un the part ~ railway en-
ployees and employers than has vt heen
seen in the country. and. secondly. in it's
emphasis laid upon the point that fair
treatment for these companies u de-
handed 10y a good many other people
IN the country than q few millionAires
or those belonging to the class commonly
desi grated as moneyed interests.
TODAY the bond market once more
displayed general and miscellaneous
strength. "A great variety ~ issues being
dealt m, usually at higher prices. with
total sales aRgregntinR nearly twice those
on the same day "a week ago. 10 was for
mally announced that The Union Pacific
Railroad had placed abroad through
Mes-rS Kuhn. Loeb a Co. and BarinR
Brus S7.S0O on ~ the cornpanv's first lien
and refundnR mort gage aper cent bonds.
the bonds being issued in sterling only; |
and In general In all the leading bond |
houses instances of q developing move
ment In bond securities and Investment
stocks were frealy adduced The Atchi- |
sons report ~ an increase In gross earn
ings for August 81 tiO9. 600 and net de- |
crease of t275 0OO was in no way discourage
ing. all things considered: and proof Of
NOR. hopeful state 81 arair- in both the
business and financial world wns found |
in the announcement that farm loans were
being made in the West at much lower
rates than those prevailing few months
ago and that the dry goods trai lie especially
was becoming larger. The news to-day
uf an advanC" ia the German bank rate
from sto per cent was wholly eEpectal
and " was held =" ba NOT improbable that
an advance in the Bank ~ England's dis
count rat" might he made In the present |
week. IN the present week our own |
bankers must 20 course make preparations
for the October disbursements. and some
signs e this were shown to-day in a fir1uer |
tendency IN sterling caused bv purchases
~ eXchanR" for ure in remittance Of dlvi- |
dand and interest money later IN ihe week
IN" Governments figures 20 the condition |
Il national banks IN September l showed.
ns the preliminary data alrNtdv published |
that bank loans ia tho pe-
Rod had increased somewhat The per
c~ntAge - reserve has also increased aud |
j. stIll m ~ way loss than IN" normal |
The enlargement 81 bank loans IN the last |
quarter. which has uulv amounted u
So Vs' 81 altogether. was principally due.
no doubt. ~ m" necessary eNig"ucia- 81 l
the crop moving s.'aS n. = which p orion |
go ubv,nu-lv included ~ th. three /
months perini .l"~rrihe,l R"vi-wing To- I
iav'- market ~ whpl- u may - sad |
that - most distinctive feature apIeareI /
~ 10. - u has been fnr several weeks past
m. IuiIcatlurs q q -'li uu' condition and !
81 a general -'t'" ct AFFAIRS ~ which prices ,
" .uld r.~~ rapidly " any really large buy
ing made ~ appearance