Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-08-31
FINANCE AND TRADE
Anthracite Coal Situation Seems
Genuinely Demoralized.
SPEClALfIES FIRM AND PROMISING
Advance is Far Enough Along to
Justify Profit Taking.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, August 3l.-The opening
level in today's stock market reflected some
irfeg clarity. but, in the main. the UNDER
tone was firm ami the buying confident.
The Granger shares were sold during the
morning, under the influence of adverse
rumors concerning the Kansas crops. Trad
ers were credited with the bulk of these
sales. however. and there was no indication
Oh final ablnd 0nment of the upward
movement.
The anthracite coal situation seems to be
genuinely demoraiized. and the shares Of
the properties handling the commodity are
noticeably out of sympathy with the main
situation.
The market for specialties is extremely
firm. and renewed activity in them is as
sured once the general list encounters a
new demand. In this group of speeiaIties
the Pacific Issues. Peoples Gas and the
high-priced industrials are the features.
The statement of Northern Pacific, due
toward the end of the week, will mako che
Of the most satisfactory exhibits OF the
year.
Earnings will be large and the percentage
OF operating expenses to receipts will in
dlcate an unusually profitable ratio. The
preferred stock viii, of course, get its 1
per cent dividend. and II Is quite within
reasonable expectation that the common
Will nave earned an equal amount Dis
bursements in the common stock will be
delayed, however, as the result of a con-
sentative and somewhat novel policy look-
ing to the perpetuation of the dividends In
the preferred.
The directors are considering and NAV
submit TO shareholders scheme looking
TO the establishment of a fund to insure
ulFldends on the preferred stock by estah-
Hsnlng an emergency account for that pur-
pose. Ihis proposition, coupled with other
tsatures OF the coming meeting, should give
the Northern Pacific issues further Dror,
mehce IN the market, Notwithstanding me
recent rise. The buying of People's Gas
was on a liberal scale and suggested fur
Iner aggressive action on the part of a
leauing interest, which has been akip,r
pronts for several DAYS
NuaIhattan shows very clearly the effects
VI an elimination of the short Interest md
Is conspicuous exception to the general
1870. iGy OF It's ieiShbors. The market Is
oeuls ia an entirely natural manner and
may hesitate Tor time but there is lttle
Hdlcatlon OF material decline Tho rise
nag assumed proportions justifying profit
,dAiIs' put the good In the situation has
hoI been entirely discounted
Inc money market has advanced 70 a
snghtly higher level, but gold engacemenfs
IN London have been announced dailv sf,,ca
ny rates advanced. Upward of s5.op1-
op mas been consigned to one innortin.,
mouse since the demand arose Tbe-e -
plehty or gold yet to come, and there peej
De no hesitancy in business because Of a
lack of money,
ne banks are likely to expand their cir
culation during the coming saasor ana IL.
hnal quarter of the year should he ac,t ,t
ana profitable. Certain industries u,ili
stand out prominently from time TO time
ana Just now iron 1uld seem TO he IN a
Iair way to take the lead The hear So
of the market has no friends now "a ,',,
accident will be necessary to increasa its
popularity. IT'S