Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-08-05
Narrowness Was the Feature of the
Stock Market Today.
LONDON WAS A LIBERAL SELLER
Concessions Were Quickly Met
by Purchases on This Side.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening star
NEW YORK, August 5.-There was
tendency toward narrowness I'm today's
stock market. and the professional element
endeavored to force concessions in consc-
quence- These efforts. as usual were dis
appointing. Fractional declines were re-
corded throughout the active list. hut the
demand Immediately Increased with each
concession. and morning prices were gener-
ally restored during the afternoon
There is no desire TO liquidate investment
holdings. and speculative profit taking is
only natural.
London was dispo sed to sell moderately
but 1t is reasonable to expect an increa sed
foreign demand once renewed local ag-
eressireness is demonstrated In every
department of the international list with
the exception Of Erie. prices w.re lower
curing the morning. The stock named is
an old-time favorite abroad and NAV again
lead the enthusiasm on the other si,i,
The news of the day was generally favor
able to higher prices no specific cause for
depression being reflected in routine re-
ports.
Yesterdays total transactions being the
largest on the recent advance. 1t WAS
argued that the upward tendency had cuI-
minated temporarily in order to allow thu
complete absorption OF these transactions
This argument was Practically the only on.
IN any way encouraging to the reaction
lists.
In Chicago Gas profit-taking was In
progress during a greater part of the day
= per cent decline following. This decline
haG slight influence elsew here but only
TO the extent of the customary fraction
Inc Granger shares We're given good sup
port. notwithstanding some realizing and
are apparently going into strong hands
crop information continues to be on
couraging. and earnings are expected 10
Justify the present demand for the various
stock issues. Nashville was bought In
round amounts up to IS the advance being
accompanied with predictions of a prosper
Gus traffic season.
New York Central was advanced to los
under commission buying of a SUPERIOR
character This stock has always been
favorite with the wealthy investment
classes, and its opportunities for increased
earnings were never better than now. ANY
further advance in she general market
should bring the property conspicuously To
the front
The coal shares were strong and weak
by turns. the activity again centering in
the Reading issues. This property is re-
lied upon to control the anthracite coal
output and to dominate the policy of AIRY
hard coal combination which may be form
ed.
Sugar opened strong, but Immediately
attracted realizing sales from all parts Of
the ROOM At the decline the buying was
again decidedly confident.
American Tobacco was strong. and IN
good demand up to a new high level. Ma
nipulation and some business improvement
continue to advance the price of thes..
shares.
The Laclede Gas issues were generally
higher under a continued speculative de-
mand.
The market for the Granger shares. par
ticularly Burlington, became buoyant dur
ing the final hour. under the influence of
favorable crop returns.