Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-08-28
FINANCE AND TRADE
Stocks Were Again Irregular AM
Generally Weaker.
PROFESSIONALS In CONTROL
Southern Preferred Advanced Under
Favorable Earnings Reports.
GENERAL MARKET REPORTS

| Special Dispatch to The Evening Star.
NEW YORK, August 2s.-Early trading
| in today's stock market irregular In
character. conflicting movements being no.
| ticeable in stocks which have hitherto
moved together. London also traded both
ways. and gave only moderate assistance
| to the buying by local interests
Sentiment continues to be optimistic but
prices fail to hold because of the narrow
| ness, outside of the few issues in which
manipulation is the chief incentive.
The heaviness of Colorado Fuel was a
feature of the morning, the proposed in
crease in the capitalization having a dis
couraging influence recent buyers.
Various unsatisfactory explanations We're
made on the subject of this Increase. the
statement that the stock would be held In
the treasury and not put upon the market
serving only to decrease the desirability Of
the present shares. AS a dampening in
nuence the threat concealed behind a con-
siderable block of treasury stock il per-
haps the most potent.
second factor of an adverse nature
! was a rumor that an organized attack on
Brooklyn Rapid Transit would be made
during the day. Gossip about this proper
| ty is more OF less seriously considered since
the publication of the recent statement.
Talk of a change in the directory, To be
made in the interest of a representative
of a powerful clique of financial magnates,
was denied. at the expense of Il one per
cent decline in the stock
Covering in Manhattan was in progress
during the day, over per cent being add
ed to the price on that account. Ameri-
can Tobacco was strong on its increased
dividend prospects, and Continental Tobac-
co preferred advanced sharply under the
influence of probably early dividend.
The directors of the Republic Cteel Com
pany declared first quarterly dividend on
its preferred stock and reported a surplus
equivalent to 20 per cent on the common.
Outside of the industrial list the move
ment of prices was quite as irregular.
Southern Pacific declined / per cent, but
was well taken by friends of the property.
Southern railroad preferred was advanced
smartly during the afternoon on its earn
| ings and growing demand from good
| sources. The Pacific issues were steady TO
| strong, but failed to make any material
| gain on the days business.
The grangerS were given rather indiffer
| ent support, St Pauls earnings serving TO
hold them relatively firm. Missouri Kan
| sas and Texas issues, particularly the
| bonds Were strong and inspired a good de-
mand from inside sources.
The market q whole reflected some
| shifting of position, and some increase in
professional business. There was nothing
| in the days news reports that was UNI
| favorable in its application to the main
| situation
The money markets promise to come into
harmony with prevailing sentiment, and
several enterprises are likely tn be brought
out during the coming month in con44-
quence of such assurances. The tendency
to accept small profits is evident al
sides, and for the moment a traders mar
l5et seems the most that can h3 expected.
Commission houses continue TO affirm tnai-
belief in the wisdom of discriminating pur-
chases on the decline.