Daily Kennebec journal., 1910-08-22
Prices Unchanged On a
Moderate Business.
Crop Reports Favorable --Greai
Cotton Yield in Texas.
Domestic Monetary Conditions Are
Bel ne Fairly Adjusted.

New York, Aug. 21-On a moderate
volume Of business, much of this being
plainly professional. last week $ stock
market moved irregularly, leaving
prices practically unchanged There
were some early gains but these were
limited to less than half score of
speculative faVorites. The weeks Op-
erations were notable for the mngatory
effects made to advance various spe-
cialties, many of which were practical
" unmarkeable in the collapse OF
prices a few weeks before.
Some of the temporary recoveries of
the week showed a range of to y
points above the low level of July 26
1t may be invidious but not uninter-
esting to make some comparisons with
the middle of last August. The Harri-
man ..oorl was then at its apogee. with
Union Pacific selling at 2l9, the pre-
forred at lis 1-2; Southern Paclflc
l39 Is; Reading l66, Atchison ll9 1-s;
Greet Northern preferred 1856 Is;
Northern Pacific 1873 3-4. st. Paul ISL,
and Illinois Central, f61 1-2.
Other active stocks were relatively
high and practically the one market
leader than then failed to register ITS
top price was u. s. Steel, which touch
ed "a 1-8 some months later.
The alternating declines and advances
in prices since the beginning OF the
wear are stll sufficiently fresh IN the
minds Of those most interested and tha'
phase Of the situation may now pe uls-
missed with the observation tfat !aS'
weeks final prices We're from ~ 10 oo
noiuts below those recorded in the Doom
Of August, 1908
Not since the special Congressional
elections in this stat" and in MaSSchu-
seats last spring has Wall Street mani
tested such a lively interest in poltlcs
as il did last week. The defeat of COL
one, Roosevelt FOR the temporary char
manship of the forthcoming Republicaf
convention in this state, the sWeeplhs
Victory of the Insurgents in Calfornia
and tie many rumorS OF a preaK pe-
tween the ex-President and the admin
istration seemed to furnish much 1000
for ranection. The outcome in Cali
fornia drew attention TO the Harrliilai
stocks. whose representatives nave
freuuently been charged with conSld-
arahIe influence on the politics OF tha'
state. and some pressure was directed
against both Union Pacific and South-
I
e,n Pacific Apart from the Speclllc'
instance, it seemed to be the opinion
of unbiased observers that the poliu-
cal situation. as a whole, leaves some
thing to be desired and that pending
its solution any undue activity IN the
direction of higher prices might wen
| be discouraged.
Domestic monetary condltlohs, ac
| cording TO trustworthHN information, are
,noving toward satisfactory reauJ"si
meIt. ,,
C,rou news was mostly faVoraple'
| with indica tons of an unusually larse
| cotton Weld in Texas.
| In the leading lines of industry liz
eituation showed little improvement
! DESPITE the better demand for prin,
| and woolens. a number of cotton hii'i
in New England and the SCUM al
| nouncad a further restriction OF opei
| .tions for the balance OF thls iloIl''
| and the early part of September r.A
trame dullness continued TO De ''i'
n,oet marked feature of the IRON ah'
| stae, trade, with intimatlons OF Iultle
! price cutting.