The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-09-11
ENGINEERS.
GOSSIP or n,LL STREET..

The only Interesting feature Of ahairs
! IN Wall Street yesterday VAS further re-
markAble -hrinkRg~ IN business IN The
stock ENChangs Trading IN stocks ali
bat came 10 n complete suspension and q
wa- ne"es-ary 10 go hack many year. to
| ind saturday session when dealings
amounted to less than 81 ion shares The
previous smallest Saturday this wear vas
august =. Wn~n ~. 1ss shares we're done
and this Vas the lowest half dsy's dealings
since November =. 1891
~ the $40 ~ bonds bought and .od
on the stock Exchange yesterday usT.HO
VAS furnished nv the nion Pacific con.
Ner'ible a. which ,nu''nu~d their doUn-
ward movement and established a neu lov
81 in2'. a. compared With last Week' price
Of To-
Interest w financial ahairs Yesterday
largely centred upon the Second report NJ
the I uitsd states steel corporation under
the new Arrangement ~ it, untitled orders
on hand a. of August 1l This - "a issued
after the clos. ~ hu-lnss- and the showing
was little worse than the majority -
people In Wall street anticipated Where's,
re,'ent forecasts have b~en for a shrtnsAg.
oi some SD.Nn tons. the -hrinkaRe actually
experienced during he month vas Of ~ 81
tons. a. against \ reduction IN July Of "a ~
tons The volume NJ tonnage was thereby
brought down to the lowest figures sncs
the autumn ~ ipos
Railroad gross earnings A. = whole dur.
ing August. 49, far a. they have h~en 70
ported continue to -hoV substantial
gain over last year. an important factor
in view 81 the rapid rt-@ IN - psn-s- and
What appeared ~ he tenda ~ exhibited.
notably In the reports ~ tho Roo. Island
and Northern PaciH" com raniss toward
falling IN IN this tom IN July compile.
tons hy the FiHuuc,ai Arpr',l~ ,oyernz
over ons-third ~ the total mileage Of 'hs
country exhibit N gross Az 'rrass II
IS S0.ioa. or 80 per cent Igsln-' an2 psr
E ent IN July This in"Tea- - docs not APPEAR
80 favorable When the sN'"piI"nall' lsrgs
mo, rTnent 81 the leading staples - uuHstd'
dsred and the fact that tho figures received
are mostly from roads operating N ne
West and SouthNrSt August fh- year
al~o contained one more 0sgsins day
than tho same month last year. 0h'"h N
it-~lf Nas equal =" a gain ~ hot = cen and
per cent
The extraordinarily rapid movement "
the ,OuntTy'- crops To- market Wss tshin
reflected in further dimunit'"n IN IN" -ir'
plus of idle ears ~ reported hN rho fort
nightly statement Of the american Rsl'
wav Association ye-terisN Tn" r"du''
ton amounted To- - per cent feature
of the report NA- n heavy decrease ~ '"al
cars. owing to the resumption u coal 'rh'c
on an active scale Some iuct"ase 10 No
demand for cars throughout m" country
generally ~as also noted That m" M
movement IN business over me country
Indicated by ths-s figures AS almo-' m
tirely confined to the lines mentioned. No"'
ever was testified to hv The heavy faiNnE
OF in bank "learings IN he ! nted state.
Total clearings this week VeTe the smai@S
for the year and showed loss ~ - I'"'
cent from last week III" showing 10 'Il
the moro remarkable whsn ~ 10 remern 10 81
that this - the hrsi month Of fall hns'ns..
,ompared With ths same week IN ~ ant
years the showing - the poorest since -.
letter from one brokerage lsouse takes
q rather favorable view than otherv'~s
Of the present declining tendency in genera
rad. and industry. The argument IL con.
Quoted a. follows IL - evident that he
principaI part 81 the liquidation In most
of our industries has not yet occurred ~.
In other words. the sharp curtailmen' II
. ,p~n-es wh.ch must he relied upon -
pave tho way for any sustained rise Vas
not taken place In brief We are In . posi-
ton where a sharp decline In trade. Snos
Il would presumably represent vide-pr-sd
cutting Of expenses, should he reGsFfsd
hen N occurs A. foreahadowtnR 80
In stock prices. In the broad view no
= ritter sees reasons for optimism IN no
dea that rather than entering upon n"-
period OF business depression the GO "n'D
d now emerging from that which heEas
in iSos. the present being the secends'y
decline that nearly always follows the nrss
rapid recovery from the COLLAPSE.