Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-02
Today's Market Was One OF
Unusual Irregularity.
DEALSONFALLINGB BASIS
STANDARD GRADE SECURITIES
PURSUED NARROW RANGE.
However Substantial Advances Mark
ed Higher-Priced Anthracite Coal
Shares-Southern Stocks Active.
Special Disvatch TO The Star.

Special Dispatch 10 The Star.
NEW YORK August 2-Dcfnitions of the
tone OF todsy's stock market would have to
be made with close regard for some par
tculsr hour of the day and for some spe-
Cial group of securities. Considered a
whole. the market was ore of unusual ir-
regularity, there cling occasional periods of
apparent weakness followed by others of
seeming bUcyanCy.
The dealings continued upon a falling
basis IN respect OF activity. II being plain
that the irregular movements in prices were
proving disconcerting to the budding out
side interest in the speculation. Most of the
standard grade OF securities and the usually
active stocks traversed narrow but still
irregular range of fluctuations.
There took place. on the other hand, fur
ther substantial advances in the higher
priced anthracite coal shares, in which
quarter the movement was plainly infiu-
enced by the continued and almost spec
tacular rise In Delaware. Lackawanna
and Western. 1t Is generally known that
this company is making earnings of such
magnitude to prove actually embar-
RAISING to the management, and it was
generally assumed today that some extra
and special large Tstribution of profits
would soon be announced.
Reading Common.
Reading common. which is usually the
leader of this group In respect of activity
covered wide range of fluctuations. but
moved upward In the early afternoon in
sympathy with the higher priced stocks
OF the same classification.
Another striking movement In prices
took place in the southern stocks. and
more particularly In Southern Railway
common.
The Railway List.
There was little real news relating to the
statements of June earnings submitted to-
day Many OF these showed decreases in
net returns for the month. although, on the
other hand. the St. Louis and Southwestern
railway reported net earnings of $193, 000.
Il gain of more than 100 per cent over last
years returns. which were. of course, heav-
lily reduced on account of the unfavorable
weather conditions prevailing at the time.
The local traction shares again occupied
a small part In toiay's dealings. Generally
speaking, the transactions in the industrial
and miscellaneous stocks had as Irregular
results those In the railway list.
American Smelling and National Lead
We're exceptionally firm. expectations of in
creased dividends being again mentioned as
accounting for the strength of the first
named
The London Market.
The London stock market was generally
depressed because of some anxiety there
with regard to the upshot of the forthcom-
ing peace negotiations between the Russian
and japanese ENJOYS. Misgivings in the
same direction were locally expressed. be-
ing based chiefly upon the publications in
this mornings newspapers.
Operations in this market for foreign ac-
count were again upon a trifling scale.
Money on call was in much more liberal
supply than was the case yesterday after
noon, and the bulk OF the borrowing was
effected at and pa per cent. Sterling ex-
change continued firm.
There was nothing very striking in the
days adviCes respecting the crops. but
quite extensive advance took place in
corn. The general course of the commodity
markets appeared. however. to have little
influence in the dealings in securities.