Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-08-21
FINANCE AND TRADE
Strong Undertone in Stocks, but
Little Business Doing.
LITTLE OR NO PRESSURE TO Sell
Strong Effort to Boom Sugar Gains
Slight Advance.
GENERAL MARKET REPORTS
special Dispatch to The Evening star.

Special Dispatch to The Evening star.
NEW YORK, August GA strong un-
dertone. almost no business and few signifi-
cant net changes about describes today's
undressing stock market. There was no
pressure to sell, and this fact had quite as
much to do with the strength OF the mar
ket as did the spasmodic buying by the
| room.
London was dull and inclined to heavi-
ness, and the continent was interested In
| nothing save Italian bonds. because of that
governments demand for it's own obiga-
tons
A few stocks were advanced under mod
crate dealings, but the reasons for higher
prices today were not satisfactory.
The coal shares moved up from to 3
per cent. New Jersey Central and Reading
| first preferred leading. Rumors of buying
for control were heard quite as often as
usual and were quite as often denied There
Is no doubt that q buying movement for
purposes of control was undertaken several
months ago. but in whose interest did not
appear. Later rumors have credited the
buying to Baltimore and Ohio in the in
terest OF completing Its ownership into
New York. These rumors are invariably
denied.
The Observation-Disclosures alliance. So
called, had In view at one time closer
der their auspices Baltimore and Ohio
might have made a convenient background
for the entire transaction. Whatever tech
meal denia1s may be made. it is certain
that the unsettled condition of the times
by reason of politics and the fears of the
outcome In China is wholly responsible for
delaying more positive action along this
line. A decrease Of over $4,000 in New
Jersey CentralS net earnings for July
made little impression the strength OF
the stock.
An attempt to put up Sugar was evident
in the early trading, and a rally of III per
cent was recorded during the noon hour.
The buying was by a pool recently active
In the stock, but there was no really good
demand.
Brooklyn Rapid Transit gained something
In price at the expense of short interest.
The buying was said to be much better
than the selling at all times during the day.
Peoples Gas failed to hold its opening gain
Chicago houses selling on the repeated sug-
gestions of adverse litigation which might
influence dividends.
The granger shares were barely steady
owing to conflicting crop advices and the
growing belief that pool support will not
prevent reflection of crop conditions,
should they fail to improve.
Owing to the inconSequential proportions
of commssion-house business 1t is difficult
to determine to what extent If any senti-
ment has been changed. There is no sell
ing OF a purposefu! character and practi-
cally no liquidation. The buying on the de-
clines Is called good and in some instances
stocks are scarce.
There is no incentive to business however
buyers relying on the dulness to force the
market down to their price limits and
owners of stocks refusing to sell except at
higher level. Such a condition. during
the vacation season, with the leaders of
the market away, makes for stagna ton.
Politics are much in evidence but as vet
there is little apprehension. There are pre-
dictions Of scare and many deniais of
such prospect, and neither faction is will
ing TO engage in new enterprises for fear
of Improbable results.
The tendency of the arguments In vogue
at the banks would lead to the conclusion
that preparations had better be made for
the scare. and IL 1T does not materialize
the disappointment will not be unprofita BILE
The prospects for good bank statement
are encouraging holders of stocks and may
serve to maintain a steady undertone dur
Ing the balance Of the week The market
has repeatedly shown its Indifference to
both good and bad news, and the present
apathy may be hard to overcome
Runors of financial troubles In Boston
were circulated during the morning but all
attempts to trace them to any particular
house failed.