Evening star., 1897-07-30
FINANCE AND TRADE
Stocks on Wall Street Ruled Steady,
But Dull.
BEARS TRY TO RAID THE MARKET
Strong Undertone Prevented Seri-
Gus Concessions.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch TO The Evening Star
NEW YORK. July so-S;abi!ity In the
presence of dullness was the most note
worthy feature of today's stock market
The reactionists again made a determined
effort to depress prices, but the result was
inferior to the effort.
Realizing sales in the Granger shares
were urged In justification of the effort to
force concessions elsewhere. but even In
this group the buying was superior to the
selling.
The undertone OF the market is unmis-
takably strong. and influential interests are
at all times willing to take whatever
securities the room may have for sale.
The engagement of $3.20luDo gold for
export tomorrow was repeatedly cited as an
argument favoring a lower speculative
range. Shrewd Judges of the situation have
ceased to be concerned about the gold
movement, In view Of the certain return
of present losses later in the season.
With such crop conditions as are now
reported there is little cause for alarm
about the international gold movement.
The tide nust head this way once domes-
tic breadstuffs begin to move In the volume
now generally predicted.
With this subject disposed of as a factor
the question of earnings is left as the basis
OF Intelligent market reasoning. From
almost every quarter these reports are en-
couraging end the present month is re-
lied upon to show handsome gains over
June. The grain-carrying roads have made
enormous gains in many instances.
St Pauls July statement. published
today, reflects an Increase OF Ssl.oD by
comparison with the same period in 1875.
For the fiscal year more than = per cent
has been earned on its stock and an addi-
uonal l per cent seems likely to become
a possibility during the next year. Rock
Islands statement will he given out early
In the coming week and indications favor
a very gratifying showing.
The safety of the crops is not sufficiently
assured to warrant important operations in
the Granger shares just at this juncture,
but appearances are fully equal to sus-
tanning prices.
The daily change In specialties. heretofore
noted. was again a feature Of today's
ma rket
Northern Pacific issues were selected early
in the day a center OF activity. prices
responding easily to the demand. An ad
vance of per cent in the preferred stock of
this company was accomplished by excep-
tionally strong buying.
The difficulties in the way of electing a
rev president for this corporation are rap
idly disappearing. and the long sought for
harmony with Great Northern will be real
lied during the fall.
The buying # Consolidated Gas was of
a superior character. an advance of more
than s per cent following The earning
capacity of this plant its management and
future prospects have combined in max
ing it one of the finest investment proper
ties in the high-priced list.
The extremely cheap stocks notably
North American, are being taken up solely
because of the disposition to purchase any
thing that can be made active. The indus
trial shares have lost their position as
leaders temp Orarily, but II prices can be
sustained for time new buying will prob
ably break out in these shares
me demand at the moment, however.
comes from sources interested in and de-
mandirg figures TO show cause for the
improved value reflected in higher prices
Statements within the grasp of tue average
mind being withheld by the indus trials. the
railroad shares are naturally favored.