Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-07-08
FINANCE AND TRADE
Tendency Of Speculation Toward
Improved Values.
DEVELOPMENTS IN HARD COAL STOCKS
Sale of Pennsylvania Railway
Bonds Abroad.
GENERAL MARKET REPORTS

Special Dispatch 10 The Evening Star
NEW YORK. July S.-The general
tendency of speculation this morning
was in the direction of improved values,
and the volume of business, while
small. was well distributed. London con-
tributed little to the local trading the COM
mencement Of the regular fortnightly set
Elements interfering with activity
The long account was subs tantially repre-
scented in the buying of the more active is
sues, and sentiment, except for traders re-
actions. is strongly opposed to the short
side of the market.
Important developments in the anthracite
coal situation are expected during the
week, and the belief obtains that a settle
ment of all differences Is near at hand.
Tho buying of Jersey Central was a con-
spicuous feature of the days trading a
per cent advance being effected on moder-
ate transactions. More definite informa-
ton relative to Readings plan of reorgani-
cation is promised within the next few
days. the character of which is sure to
find immediate reflection in the price of the
stock.
The recent action of the stock justifes a
belief in some favorable conclusion on the
part CT the committee having the matter in
charge.
The sale of 81. 100000 31s per cent bonds Of
the Pennsylvania Railroad Company in
London was announced during the day,
and,was regarded an incident of extreme
Importance, especially in its effect on the
market for foreign exchange. The bonds
are described sterling. and will mature
in 1915. The rate at which the sale was
made was not made public
Continued encouragement from the grain
districts resulted in a strong market for
the granger shares, liberal fractions being
added to opening figures New England
was marked up 2 per cent on a continual
ton Of the mysterious buying which set in
at the time of the transfer of the control
OF the property. Present purchasers are
buying up the minority holdings In the evil
dent belief that all stock will share equally
in the profits Of the company.
Chicago Gas was again an exception to
the general market. its inability to rally
being quite pronounced. The professional
element continues extremely bearish on
this property, and no opportunity to de-
press the price Is overlooked. The extent
and completeness of the recent decline
should prompt caution in future trading in
this stock. as the real motives for the de-
cline have never been fully divulged and
may consequently be no longer operative.
Sugar was strong throughout the morn
ing. under fair buying demand. which
added l per cent to initial figures. The
company is again taking orders. subject to
delay. and advances in the refined product
are expected. Certain grades were ad-
vanced 1-16 this morning as the result Of
strong demand from the trade. While the
trade outlook Is decidedly encouraging, II
is not known to what extent manipulation
will be employed to overcome the natural
tendency Of the stock. as certain inside In
terests are quoted as being opposed to any
material advance at this time.
The railroad list is attracting more at
tention than at any time of late, and Is
expected to grow in popularity during the
dull midsummer period
The powerful manipulation, incident to
all activity in the industrial department is
not likely to be encountered in the more
conservative railway shares, In which
ra tod 90 nA,
values. The trading of the final hour was
dull at fractional net gains.