Los Angeles herald., 1905-08-10
Bv Asaociated Press.

NEW YORK, Aug. 9.-opening prices
on the stock exchange today showed
mixed gains and losses and prices moved
in contrary directions in different parts
of the list throughout the day. There
was scarcely time when consistent
tons was perceptible, so irregular and
mixed was the movement.
Here and there, in the list new high
prices were made and an active demand
for one or two of the standard market
leaders relieved the trading from its ap-
y pearance of being given over entirely to
the less prominent syecialties. The
strength of these influential stocks was
obviously taken advantage OF to effect
sales and of realizing profits at different
points.
Some of the less conspicuous stocks,
recently rushed to a great height, proved
soft and made wide declines. The vol
ume of dealings shrunk to some extent
and there were periods when the dullness
was more intense than for long time,
but the character of the account was not
entirely changed. Selling for inside ac-
count was only evidenced as prices were
bid up to meet the ideas of holders OF
stocks and 1t was when bids were with,
drawn and quotations allowed to sag that
the dullness became most profound.
The news bearing on values was of the
same general tenor as for some time past
! and served to keep up the spirit or the
Industrial conditions which form the un-
derlying basis for the firm undertone OF
the present market.
The actual opening of the peace confer
ence at Portsmouth, n. H., did not
change the recent prevalent view Of that
event in the financial district which may
be described as one Of confidence IN uiti-
mate peace, but with 9 conservative re-
servation against possible complications
1t is the general feeling nevertheless,
that a rupture of negotiations ana de,
termination to continue the war would
precipitate a hazardous situation In the
financial markets. So far as the immedi-
ate effect in this market would be con-
cerned the determination by the Japanese
government of it's disposition of the large
funds on deposit here to It's credit would
be the prime factor.
The expectation that the government
report on the grain crop to be pupllsneo
tomorrow will be very favorable had a
sustaining influence on the grangers to-
day st. Paul showed good result OF
its June earnings statement issued yester-
day Amalgamated Copper was In dor
mant state, after having been entirely un-
responsible yesterday to an additional al
vance in the price of copper.
Smelling resumed it's flight to new high
record levels without definite news an
nouncement to account for 1t. The coal
ers showed some effect on proht taking
on their recent advances, although Della
ware and Hudson sold up to new hlgn
record.
easily explained as the result OF the
passing of it's dividend and Corn FRO
ducts preferred was further depressed as
a consequence of the Internal dissenslons
amongst the owners of the property.
The furry in the Denver banking world
was a factor in the late reaction
Some weakness developed in the iron
and steel stocks when it was shown that
the Iron Age statistics for July showed an
additional accumulation of stocks or pig
iron on hand in spite of further cur
tailment of production as compared with
June. uS
The weekly review, of trade, however,
was very cheerful.
The market closed heavy.
Bonds were irregular. Total sales, par
value, $2,620,000 :,