Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-08-07
STOCK LIST SLOW,
SOME LOSS SHOWN
Market Very DuII-SterIing
Exchange Easier and For
eign Situation PuzzIing.
BY STUART p. WEST.

STAFF Correspondent Tie Star.
NEW YORK, August THE main
feature in today's market was the
falling off jim the volume of business
by comparison with yesterdays trad
ing.
Bear operations were resumed
against several issues and the search
for weak points was moderately sue
cessful. There were sharp declines in
some of the low-priced oils. notably
invincible, Pure Oil and Transconti
mental. few narrow specalties of
the type of National Enameling and
= keystone Tire broke rather badly. and
International Paper was under attack
on the ground that it had not had its
proportionate share in the liquidat-
ing movement.
The coppers were heavy but else
where the market held up fairly Well
Quiet buying kept on in the rails,
and this, with the tirmness in steel
common, served to steady the greater
part of the list against the weakness
in the few special quarters.
No Direct Influence.
1t could not be said that the market
reflected one way or the other the de-
velopments in the foreign news over
night. These were decidedly confuS-
lHs. what between the statement on
the one hand that the soviet govern
ment's reply to the British note was
partly satisfactory and that the strain
WAS casing. ard the predictions made.
on the other hand. that tomorrow $
conference between the English and
French premierS and military chiefs
would recommend the dispatch of an
expeditionary force to help the Poles
Foreign government bonds We're
dull and not much changed.
Sterling Easier.
Sterling exchange reacted cent
and a half from the extreme high of
SIS Il touched in the late trading yes
terday but this could quite we'll have
been explained as a natural setback
from the upward bound of over y
cents in the two previous days. 1t
was not necessarily significant in re-
Meeting banking opinion on the Rus
sian-Polish crisis. Altogether it was
very inconclusive day in all the
markets. The ability of the bear
party to uncover weak points in va
riouS groups of stocks was undena-
Bile. but it was also just as clear that
this weakness was not having the eff
feet upon the general list that it had
had earlier in the week.
The Bond Market.
Very little worth recording hap
pened in todays bond market. In
eminent issues because of their being
the natural medium for rejecting i'm
portant sentiment regarding Euro
pean political affairs. But as it hap
pened there was nothing that was a t
all significant about the trading in
this quarter. United Kingdom IS of
1922 were fairly active around 90s.
where they sold yesterday. but the
1929 and the 1879 were scarcely traded
in at all.
Belgian government 6s of 1925 were
off point at 81. but the 71es were
stronger. up half point from their
low of yesterday All in all the deal
ingS in this section We're not large
enough and the price changes alto
gether too small to throw any light
upon banking operation regarding
the outcome of the Russian-PoHsh
crisis.
Liberty bonds were substantially
unchanged. There was a renewal of
selling pressure against the Inter
borough Rapid Transit 5s, carrying
them down to 4212. Railway bonds,
following the course of railway
stocks just about held their ground,
but did no more There was scarcely
any change in prices in this quarter.