Show DOES NOT AffECT MARKET Increased Southern Pacific Dividend Failed to Help Wall Street Situation MOVEMENT VERY NARROW NET CHANGES AT CLOSE INSIGNIFICANT INSIGNIFICANT New York Aug IThe professional traders In stocks wore very diligent to today day 8 to move prices end and they met with more or less success at different times nut But any efforts to realize upon the move movements ments revealed how small was the com rany of those operating and carried prices Lack hack toward the starting poInt It was expected that the declaration of the Southern Pacific dividend nt at the rate of Ii 6 per cent would stir up some sort of In the market although the dec declination declaration was scarcely more than a for foral al ratification ot of an Intention so ex stated by the head ot of the system 1 a week ago that there was no room to f appose any departure from the plan The stock vibrated quite feverishly although within a narrow range with the lion ot of rumors rumor that a hitch had occurred In the proposed Increase or that a fail tire ot of a quorum to attend the meeting would necessitate a delay When hen the for tor formal mal announcement of a G 6 per cent rate ws was made the whole market maret sold Eold oft off the losing all of the ca early ly ad advances vances The Th reaction was clearly clearl duo due to realizing inS ing and lOd It found an 1 insignificant demand attracted by the actual advance tn in the dividend rates This additional evidence ot of the of the market markot to toray ray ruy favorable news proved a fresh damper dam per on speculative enthusiasm The nd ad 1 nt of the Union Pacific directors fr for want of a quorum without acting I upon the dividend seems to have havo been I construed although the only I surprise that has been sU suggested Jested as a pos In the Union Pacific divi dividend end rate was waa of nil an increase The fill frankness which I has b been en used In regard to the tho actions and the Intention of the Southern Pacific directors In contrast with last years secrecy has puzzled the speculative pub public public lic sO much that they are Inclined to sue sus suspect ont ulterior surprises This was tho toe toey only y explanation ot of Ute the view taken of f the Union Pacific postponement The tact fact was commented on that one ot of the absentees from the Union Pacific meet meeting In ing was a capitalist regarding whose health unfavorable rumors have been In circulation and whose Intention to visit the financial district today was declared yesterday as disapproving the rumors Ills connection with the copper Industry gave ave occasion for some further special weakness In that group The copper and Iron market is 18 receivIng Ing n a large amount of attention since the published statement by a director ot of the United States Steel corporation that new I orders for July had fallen off 25 to 50 per cent from those received In July of tact ast year American SmeltIng also shows close sympathy with the metal Indus Industrials industrials trials but it suffered In addition today from reports of the Intended organization ot of opposition and competition United States Steel was comparatively firm being helped by the reports of n a resumption resumption tion of operations In the lake Jake mining re regions regions gions Foreign markets shared In the depressIon which existed here and weak I returns were made by the Bank of Eng England England land and the flank Bank ot of France Toe The favorable effect of the good yearly showing of at the Atchison earnings has hafl been discounted and more attention ww was paid to the comparatively unfavorable showing ot of the June net earnings Owing Owin to the constant vibration ot of prices the thenet thenet net changes at the end ot of the day were mostly Insignificant Bonds were Irregular Total sales eales par value United States bonds were unchanged on call |