Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-05-22
A Dull and Irregular Market
Today.
THE ANTHRACITE STOCKS
Furnished the Feature Movements Of
the Day.
LACKAWANNA NEW HIGH MARK
Further Relaxation on the Money
Mart-Dividend Reports and
Earnings Statements.
LACKAWANNA NEW HIGH MARK
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, May 22-Dullness and IT.
regularity were again today the salient. IL
unsatisfactory, features of the stock mar
ket The most striking movements wit
messed were those which took place in the
Anthracite Coal shares. notably in the
higher priced issues of that group. Lacka-
wanna in particular established fresh high
record of market valuation although that
is now almost daily occurrence. There
were large dealings also In the lower priced
stocks of the same classified ton. and these
were firm, although naturally not showing
the extensive gains scored by the Lacka-
wanna, New Jersey Central and Delaware
and Hudson.
1t was again the common assumption that
the course of the Anthracite stocks was In
anticipation of the formal announcement
of plans through which the railroads hold
tngS of coal lands and of the securities of
coal companies wouldsbe disposed of, and
the equities allotted in one form or another
to the shareholders of the parent COM
panies. Much of the trading in these stocks
did. indeed, appear to be of a professional
and manipulative character but it is hard
ly to be supposed that their quotations
could be advanced to such levels as were
recorded without there being some substan-
tial background of fact behind the move
ment.
AT all events, in view Of the railway rate
bill which passed the Senate last wec8,
some such Encouragement as that Indicated
would appear to be necessary within the
space of the next two years The aniIna-
ton displayed by the anthracite coal stocks
had very small effect upon the remainder
of the market. Dealings there were con-
Quoted upon the same reduced scale of &C
tivfty which was witnessed yesterday. After
furnishing a higher range of prices for
American stocks, London contributed moth
ing more to the days dealings.
Further relaxation was noted in the
money market and TO material alteration in
the foreign exchanges.
The Crop Outlook.
The governments weekly Weather report
was a not particularly reassurng exhibit.
but the Chicago grain pit was informed OF
good rains in Kansas and Nebraska. and
both wheat and grain prices reacted from
their opening level
Dividend announcements and earnings
statements comprised the only actual news
there was relating to particular securities.
The first included the declaration of ex-
ira dividend of 2h per cent, in addition
to the regular quarterly dividend of IL per
cent on the common stock of the Federal
Mining and Smelling Company.
The regular quarterly dividend Of Ia
per cent was declared upon the preferred
stock of the Republic Iron and Steel tom-
pany, and in addition another installmcnt
of . per cent was declared, representing
the accrued dividends on that Issue. This
leaves per cent still to be paid out IF the
accrued dividends, and these payments are
fairly certain to be completed either In the
next four periodical declaration periods or
perhaps earlier.
Certain active railway stocks showed
cases IN point being Union Pacific and
Pennsylvania