Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-08-06
Market Recovered the Declines
of Last Week.
AVERAGE LEVEL A RECORD
An Utter Absence of Saturdays
Pressure.
SCARCITY OF OFFERS A FEATURE
Advances in Excess of Two Points
Scored In All of the More
Active Stocks.
AVERAGE LEVEL A RECORD
SCARCITY OF OFFERS A FEATURE

Special Dispatch to The star.
NEW YORK, August e.-Before the noon
hour today the stock market had more
than recovered the decline suffered In the
reaction OF Friday and Saturday. and In
fact the average level of the market ad-
vanced during the day to the highest figures
which have been reached during the ad-
vance dating from the middle of last month.
The ease with which prices advanced upon
comparatively small transactions was the
subject of much comment.
There was an utter absence of the slight
pressure which was shown in last weeks
closing dealings, and in fact the scarcity OF
offerings OF stock was about the most strik-
Ing feature of the days trading. Advances
well in excess of points were scored in all
of the more active stocks in the various
quarters of the market. There was little
TO be adduced in connection with the course
of prices.
Sharp Rise in B. R. T.
A very sharp rise was noted in Brooklyn
Rapid Transit, which was believed to re-
fleet in part the covering of short con-
tracts. In the industrial quarter the
United States Steel shares exhibited
greater degree of anima ton than they have
displayed at any time since the resump-
ton OF dividends upon the common stock.
and this circumstance eXerted oenenciaI
SileCl upon the market AT taTBe.
Other substantial advances in the indus
trial and miscellaneous issues were noted
in Amaigamated Copper. American Smeit-
ing. Colorado Fuel and Iron. National Lead.
Pressed Steel Car and Sugar Refining.
The movements In the stocks mentioned
were unaccompanied by any actual news
or indeed. by any gossip OF novelty. The
commodity markets huctuated irregularly
and within small limits, although the days
advices respecting the crops were alto
gether satisfactory. and the stock market
found an additional source OF inspiration in
the forthcoming report of the government
upon the August condition of the cereal
crops
Money market conditions showed no alter
alton, and the rates for sterling remained
decidedly Arm. With regard to the money
market, however, good deal OF encour-
agement was derived from Washington adj
Vices suggesting that Secretary Shaw in
tended. should any Intervention on his part
be desirable. to disburse some SiO.0 10000 or
$4,000 600 in retiring the 4 per cent govern
mnet bonds which will mature next year.
Incidents of the day in the money market
included the mornings report of the trans
actions between the banks and the SUBJ
treasury. which Indicated loss to the for
mer since Friday of nearly $1,000. GOD. while
Chicago advices set forth that the first
signs of the usual interior demand for cur
rency were observed there. the outward
movement beginning nearly fortnight
ahead of the ordinary period.
London Market Closed.
The London stock market was closed on
account OF the bank holiday there. but pur-
chases on a considerable scale. which were
apparently for foreign account were OBJ
served in the local dealings.
Broadly speaking. some betterment In the
state OF affairs in Russia was indicated in
the intelligence from that country over Sun
day. especially in so far as the poor success
of the attempts to force general strike
was set forth. In the railway list the same
stocks which were conspicuous In last
weeks dealings were similarly prominent