Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-17
Number of Stocks Sold at
Their Highest Point.
THE RECORD BROKEN
TRANSACTIONS WERE IN GREAT
LY INCREASED VOLUME.
Today's Condition Viewed With Mixed
Sentiments by Experienced
Observers.


Special Dispatch 20 The Star.
NEW YORK. August IA number of
important stocks sold TO-DAY at the highest
points in their history. and so far as the
general stock market was concerned its
average level also was lifted to the highest
sage that has ever been recorded. Transac-
tons We're IN greatly increased volume. and
the business of commission houses was
upon much larger scale than it has been
at any time throughout the protracted ad-
vance.
Such was the common report of suf-
fctcntly large number of representative
firms, and from this II NAV be inferred
that the rise IN prices has now been well
enough exploited as 10 draw into participa-
ton in the speculation the long missing pub
lie.
affairs view this state of thing with mixed
sentiments. With ali of the underlying
conditions so stroEg as they are now it is
recognized that an outburst OF speculative
enthusiasm might carry the stock market
to a dizzy level.
II Is also plain that such a condition will
be utilized by the great banking interests
and large capitalists for the purpose of
Iqui1ating the securities which they have
been accommodating during the past eighteen
months or So
Outbreak of Speculation
1t must be said with regard to today 9
dealings that they indicated very cleal ~
the preliminary symptoms of an outbreak
OF a speculative epidemic. Huge blocks Of
stock were thrown upon the ma -ket from
time to time by large professional opera
ors. only to be snapped up with avidity
through the constant buying of commission
houses.
London an influential factor in the
advance also. purchases for foreign &C
count amounting to upward of 40 900
succeeding the higher fSr
American stocks which were forwarded
from that point.
The London stock market close with a
fairly buoyant tone on the optimistic views
held there with regard TO the outcome of
the peace negotiations at Portsmouth. This
mornings advices In that respect were de-
Cidedly encouraging, and were undoubtedly
d factor of influence In the local dealings.
The Peace Prospects.
1t has been intimat ted in quarters which
are In position to be we'll Informed that
tie pecuniary demands of the japanese
commissioners will be unexpectedly mode
rate. In which case the financing of the
Russian indemnity is not likely to impose
any such strain upon the international
money markets as has been apprehended
Advices respecting the progress of the
crops were all that could be desired, and
the weekly report of an authoritative and
generally credited trade journal predicted
a record breaking yield of corn. provided
that cereal shall not be damaged by frost
within the next thirty days. The same au-
thority suggested that the wheat crop
would furnish exportable surplus of
fully 2OoOJOOOO bushels.
Money Market Unchanged.
Money market conditions showed no ma
terial alterations. and. in fact. the days
situation was quite devoid of fresh news or
development apart from that which came
from Portsmouth. Earnings statements. in
fact furnished the only facts relating
10 individual securities. Prices advanced
in series of waves, interrupted naturally
Icy small back currents when liQuida ton
frnm lime TING strinned new