Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-25
Large Transactions and VIC
lent Fluctuations Features.
TODAY'S STOCK MARKET
SOME DERANGEMENT OF THE
SPECULATIVE CONFIDENCE.
Notions About Reading and Apprehen-
sions Over Failure Of Peace
Negotiations.

Special Dispatch to The Star.
NEW YORK August 23.-Ths was day
OF large transa ctons and violent fiuctua-
tons in the stock market. The governing
influences. specifically considered. were
Identical with those of yesterday. namely,
the arrangement of speculative confidence,
caused by the notions with regard to the
status OF Reading stock. and the apprehen-
sions that before the week was over the
peace negotia atoms at Portsmouth would
break up In disagreement.
In today's market a further depressing
influence might have been found in the in
dications that the bank statement tomor-
row would show a further considerable re-
duction in the already small amount Of
surplus reserves
The Currency Movements.
Tie preliminary estimates of the principal
movements in currency this week pointed
To a loss by the banks variously estimated
at from s3.300.0O0 to 81. 6OOOOO and in ad-
ditfon 1t will be recalled that last weeks
bank statement showed only one-half of
the loss in cash that set forth in the
estimates. OF the Indicated loss In cash
SCI iorth In the preliminary estimates the
banks lost TO the subtreasury s., 200,0O0.
There Is included in the latter amount of
course. part of their shipments TO the In
terror. from which it is plain that direct
- VI currency nave alSO Deen DedEy,
The Reading Stock.
There seemed to be today broadly speak
Ing. less uneaslness respecting the status of
Reading stock in the market, and 1t is not
easy TO say why there should have been
much at any time. Among the days
rumors was one to the effect that a very
large short account in Reading had been
settled privately. and rumors were rather
free with the identity of the unfortunate
Spectator In question. although. OF course,
il was impossible to obtain confirmation of
such report
The days aivices relating to the peace
negotiations at Portsmouth were. as usual.
conflicting, but inasmuch as the London
stock market placed peSSimiStic cOnstruc-
ton upon the state of affairs there. rather
gloomy views prevailed locally also.
Americans at Declines.
American stocks were shown at declines
other departments there Including Russian
and Japanese bonds. but while foreign
houses had heavy orders in the local mar
ket. their operations resulted on balances in
a small preponderance OF purchases.
Large and excited as were the days deal
ings. they did not really lend themselves
TO detailed comment unless discussion OF
the varying price movements was confined
to simple technical lines.
Prices, Broke Violently.
The market opened with fairly steady
tone. but before the close OF the first
half hour the prices broke violently In
every direction and the dealings remained
very much unsettled until toward midday.
when activity subsidized abruptly. In the
afternoon many rapid and extensive reeov-
cries occurred. but the trading throughout
the business session was chacteriZed by
feverishness and unusual irregularity.
In the early part OF the day heavy selling
by commission houses was a feature of the
dealings. from which II might be inferred
that yesterdays Reading corner" rumors
had appealed with no little force to the