Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-08-28
Pessimistic Views on Peace
Marked Dealings.
DECLINES IN LONDON
A REACTIoNARY SPECULATIVE
SENTIMENT SWAYED STOCK.
Uneasiness Over Local Money Market
Mitchelps Address and Coal Miners
Demands-Great Pressure.
Special Dispatch to The Star.


NEW YORK, August 2S.-Although the
general character of the intelligence over
Sunday relating to the peace negotiations
at Portsmouth. while indefinite, was re-
assuring rather than otherwise. both the
New York and the London stock markets
adopted this morning rather pessimistic
views as to the outcome. Russian and Jap
anese bonds declined rather srnartly in
London, where the general market was
weak with American stocks showing losses
averaging about u point. The quotations
from that market were followed up by
sales for foreign account here which were
somewhat In excess of 3O.OO shares.
In fact. business was resumed upon the
stock exchange this morning with reaction
airy speculative sentiment In full sway.
Great emphasis was laid upon the address
of President John Mitchell or the Mine
Worker Union, in which the demands Of
the anthracite coal operatives to be levied
eight months hence, were outlined, and
Wall ST. eet's diplomats found much to
worry about In the naval activities in the
Baltic.
The Local Money Market.
Then again there appeared to be in
creased uneasiness with respect to early
developments in the local money market
There were further transfers of currency
tio SuO-tcdSuiS W ZIG iitciioi
today, and on the other hand. liberal re-
ceipts of gold through the same agency
from the Pacific Slope.
BY far the crater part of the days bor-
rowing on call was effected at and 2A
per cent. and at the higher figure 1t was
observed that large supplies of trust COM
pany funds were available.
The rates for sterling exchange showed
little alteration. During the first half of
the stock exchange session the market was
nf 1ar VI
or which represented palpably, operations
for the short account.
Stop loss orders were. however, uncov-
cred In many issues and in consequence
the active railway and Industrial stocks
showed declines which. up to the early part
of the afternoon. extended from one to
three points. AS was to be expected in the
general prevailing circumstances of the
speculation, there was a sharp contraction
In activity In comparison with Thursdays
and Fridays dealings.
Substantial Rally.
The first general and substantial rally
which the market enjoyed set in about 1
O'Clock. about which time dispatches wefe
published which set forth that under GER
tain conditions the Japanese ENJOYS had
been instructed to waive the indemnity
article or the peace negotia tions These
dispa tches were published upon alleged Of
fetal authority and at all events they met
with general acceptance In the stock mar
ket, winch very quickly recovered con-
siderable part of the extensive decline
which 1t had suffered previously.
There was however. little increase in re-
spect TO activity. and the recovery in prices
seemed TO reflect for the most part little
more than the covering of short contracts
put out In the early part OF the business
session.
Price Movement Uniform
Price movements In general showed an
unsual degree of uniformity. There were,
however. some stocks which showed excep-
tional strength. among them being the Re
public Steel and Iron shares. which held
firmly during the general unsettlement or
the forenoon on the expectations, which
were subsequently realized. that the re-
sumption of dividends on the preferred
shares would be announced within the
course of the day.
Another interesting piece of intelligence
or the same general description was that OF
tha ifNfNr in tk. a