Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-07-23
Activity With Some Substantial
Motive.
RAILROADS IN DEMAND TODAY
Exchange Rate Not Likely to Send
Out Gold.
GEN MARKET NEWS

Special Dispatch to The Evening Star.
NEW YORK, July 23.-The improvement
in stock values noted yesterday was con-
tinued this morning with equally crafty
ing results. The Granger shares were in
good demand throughout the day on en-
couraging crop assurances. Rock Island
was the feature Of this group of securities
in anticipation of increased revenues from
the transportation of the large out crop
along its lines. The railroad list attracted
good volume of business, and the char
aeter of the buying was such as to Indicate
the presence Of some substantial motive.
The market is still largely professional,
but the effort to depress values has ap-
parenuy been abandoned for one more
practical In its results. The engagement
of 100000 gold for export tomorrow had no
enect on prices, the street being fully ad-
Vised or such an intention on the part Of
the importing house which figured in last
weeks shipments.
The condition Of the exchange market ia
practically unchanged. bankers not being
disposed to make material concessions.
SHIPMENTS OF coin can be made at only
a very small saving. however, and trade
balances In the early fall should soon be
sufficiently discounted to cause some yield
ing IN rates and the consequent discontin-
sugar was again active at / per cent
gain from a strong opening the result
| OF the further evidences of a growing and
profitable business in the refined product
Profit taking on stock bought several days
ago was noticeable but all offerings were
| quickly absorbed Chicago Gas was ad-
vanced per cent on purchases credited
| to former director Of the company. Va
rious reports were circulated during the
| day relative to char ges in both the man.
| agement and policy of the company, all Of
| which were without foundation.
| 1t is generally admitted that legislation
| of some sort will be necessary to justify
| the present combination of companies, and
| all legal proceedings meanwhile will be Of
| but temporary advantage. Around present
| prices the stock looks relatively cheap. but
| new management without political in
| 1uence would probably add to the recent
| failures in the development Of the property
There can be little doubt, however. that
| some time in the very near future some
| plausible scheme will be set forth which
will insure handsome profits in this stock
| IL advantages are not neglected.
! The reports Of earnings made dorfng the
day were generally encouraging. Atchison,
| in particular making n crcditahle showing
The increase on the entire system cont-oll-
ed and operated by the company for the
| first two weeks In July Is a trine over
| 100000. The uniformity with which earn
irgs are increasing indicates a general re-
the country - represented Profit taking
| around delivery hour resulted in lower
| prices throughout the active list, but al
the decline fair buying demand success
| fully confined the movement within frac.
tional limits.
| A steadily advancing market is not likely
to set in at this tirue, owing to the sb-
SERGE OF many whose active participation
in speculation is essential to prolonged &C
| tivity. Underlying conditions continue tc
improve, and should furnish a substantial
basis for a higher and broader market a
tie conclusion of the holiday season. AL
| reactions In the meantime. unless based OF
| circumstances now unforeseen. will be util
lied to good purpose as purchasing poin
| for the more merit orious securities.