Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-08-26
Fluctuations Constituted the Feature
Of the Stock Market Today.
OPENING AND CLOSE WERE STRONG
Dizziness and Slight Concessions in
the Interim.
GENERAL MARKET REPORTS

Special Dispatch to the Evening Star.
NEW YORK. August GA steady mar
ket for consols and moderate Improvement
In the American department in London had
q favorable Influence on local prices dur
ing the opening hour this morning. FIRST
prices reflected advances varying from a to
Is per cent and represented fair sprink-
ling of commission buying. Toward mid
day the entire market relapsed into dull
ness, and traders again took advantage of
the inactivity to force prices off fraction
ally.
The granger shares, as usual, were the
center of this attack. The leading interests
continue to hold aloof, but are watching
narrowly the tactics of the element which
momentarily controls prices.
The crop situation is complicated to the
extent of warranting prudence. but these
complications are not sufficiently serious
to invite either liquidation or extensive
short selling.
The earnings from the roads in the agri-
cultural sections and the daily advices
from leading officials continue to demon
strate the development of a traffic limited
only to the carrying capacity of the roads
Chesapeake and Ohio, Lake Shore and
Louisville and Nashville published state
mentS OF recent earnings during the day
Wnlch compared favorably with the same
period in 1Sg6
In The case of the latter an increase of
S2l,3M for the third week in August fell
snort of expectations, and an effort was
made to depress the stock
The fractional decline accomplished was
not enduring, however. and was complete
iy recovered later in the day. Burlington.
st. Paul and Rock Island We're almost
wholly neglected at times, but were well
supported in spite of reactionary efforts
A determined effort to double the present
dividend on the latter property will be
made next month, and The chances for sue
cess are thought to be improving. Should
this event trar spire the property might
Justly be considered one of the cheapest in
the group.
New York Central was again a con-
spicuous feature of the day, advancing be
yond 100 on buying of a most superior
character. The merit of this stock. coupled
with its foreign market is likely to result
in full reflection of lis increased dividend
prospects.
Missouri Pacific opened exceptionally
strong under good commission house de-
mand. but reacted later IN the day on
profit-taking. The general list reflected an
extremely light demand, but this fact had
a tendency to emphasize confidence in
ultimately higher prices
The Industrial shares were strong IN the
main, with the exception of Tobacco. Had
activity centered in the latter, the price
would undoubtedly have been adversely
influenced.
During the final hours traders made an
effort to recover early sales. and fractional
advances resulted in every instance
The wheat market was again in a de-
lirious mood and had n tendency to re-
strict stock transa ctions.
The product of cereals is not likely to fail
snort OF the quantity necessary to make
the fall business profitable to all the larger
railroad corporations. September and Oc-
tober are practically certain to make new
records for railroad earnings