Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-08-11
Tennessee Coal and Iron Shares
Advance Again.
Big DEALS IN LEATHER COMMON
Chicago Sod Stocks Today to Buy
Grain.
GENERAL MARKET REPORTS
Special Dispatch to the Evening Star.

Special Dispatch to the Evening Star.
NEW YORK, August 11.--Today's market
centered in the specialties OF the Industrial
department and was moderately firm, with
some tendency toward irregularity Lon
don was void of feature during the early
trading, but later gained strength and sent
some buying orders to this side. The
shares at present in vogue with the specu-
lative ciiques are not listed abroad, and
consequently are only sympathetically in
fuenced by the foreign markets
Tennessee Coal and Iron was advanced .
per cent during the day. under very agrees
sive buying from inside sources Trade
conditions are assisting in the advance OF
these shares. and there is no abatement of
confidence in the future Of the property.
The Leather shares were again taken in
round amounts. several 5oo0-share orders
being executed in the common stock
Around 10 there seemed TO be a consid-
cradle block Of stock for sale. and the buy
ing limit was reduced in order to force
out this supply.
The large dealings were recorded between
"a and 9S., and were evidently for accounts
capable of forcing profits at some oppor-
tune time now in sight, but not within
grasp.
The refinancing of the company is quoted
extensively as the background for the pres
ent activity in the Leather shares but Il
might be more frank to put the new bust
ness down to experienced manipulation at
least in the matter of the common stock
Chicago houses were credited with liberal
sales during the morning which were Vari-
ously explained, the storms in the west
and revival Of interest I'm grain specula-
ton both being urged as reasons for reduc-
ing the present stock market obligations.
Then, too. the bank statement came in for
its customary responsibility local operators
An Ing T,.-s II,
originally predicted.
Federal financing is a trihe more reassur-
ing, however, and may have some influence
for good upon the weekly showing of the
associated banks. Since the government is
In the banking business its willingness to
extend the usual business courtesies to its
competitors is only fair.
The money markets are the source of less
concern than at the beginning of the week
and the preliminary operators of several
large pools clearly show increasing salts
IacIon with the outlook for bank accom-
modationS
Low-priced stocks of all classes. indus
trial and railroad, toward which some sur
pius earnings are applicable, are attract
ing attention. The high-priced issues are
in strong hands and need no excuses for
their movements. present dividends are as
Sured and increases are only a matter Of
executive policy. Investors are always
ready to increase their holdings of such
issues and the floating supply is small
The cheaper stocks. many of them,
nave not been pressed beyond the limits
of future merit, and if earnings keep up
they are certain to cut down the discrep-
ancy between them and their own preferred
shares. In a few instances-Southern Pa
cific, for eNample-there are no preferred
shares, and its compact with Atchison
should be mutually profitable, but with the
major portion to the former.
Iron and steel issues and the better man.
aged railway issues Of moderate price are
the probable leaders of the next active
market. Easy money and the end of the
vacation season are the factors essential
to the inauguration of the active period.