Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-08-09
Saturdays Buoyancy Duplicated To-
day On Wall Street.
GRANGER SHARES TOOK THE LEAD
There Were Some Sharp Breaks
Caused by Liquidation.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening star
NEW YORK. August 9.-1he buoyancy
recorded at the close of last week was
more than duplicated in todays stock mar
ket.
The death OF the Spanish premier and
unsettled continental markets were not
allowed to interfere with the deiermina-
ton to advance security prices. Local buy
ing orders were superior to realizing sales
from all sources. AMI in many Instances
activity was followed by an entirely new
level of prices
This demand was most conspicuous in
the Granger shares, and the low priced spe-
cialties having purely speculative values
Northwests report of earnings for the
year ending May 81 reflects a surplus of
slltl.9io after paying dividend OF ) per
cent on the common stock The total
earnings were equal TO more than a.. per
cent on the stock. This showing is ex-
pected 10 be equaled in a relative degree by
the neighboring grain-carrying roads and
the new buying is based largely on this
pl aspect.
In addition to the natural benefits of
good crops and fair prices a traffic agree
ment between the large lines is in conte m
piation. Once the farmers ability to pay
more literally for transportation is ts-
iablished. the present accommodation rates
viii be advanced to a more equitable basis
An advance in east-bound rates would in
sure enormous Increases in railroad reve-
nues.
Burlington, St. Paul and Rock Island are
reported to be considering some such plan
but OF the three the least favored wouls
seem 10 be the latter. Among the coal
Shares, New Jersey Central was a feature
the buying being distributed between the
two accounts. Reading securities We're in
good demand. particularly the first pre-
ferred stock, and are relied upon to reflect
any change i'm the markets FOR anthracite
coal.
The Gould shares were somewhat i'm
proved and are generally expected to he
come more closely Identified with the adj
vance. Western Union and Manhattan
scored advances from the opening level and
predictions of the formers crossing par
again are made by well-informeG inter
ests.
The advance in Manhattan at the clos, OF
the week seems TO have found it's incentive
solely ~ the needs of a selected short in
terest.
The stock had besn literally sold. ana
with the floating supply reduced to a min
mum ;he attempt to cover proved disis-
trCls. The various consolidation rufno.a
are likely to be indicated in the long run
but nothing definite has vet been con-
cluded in this matter
The Industrial shares We're irregular and
OF only secondary importance. Sugar and
Tobacco attracted most of the trading in
this department. Realizing sales were in
progress on a large scale during the after
noon but, all things considered The offer
fngs were well taken.
In some instances efforts to force out
such holders were conspicuous Bur.ling-
ton, for example. broke sharply from al To
?4l2 efforts to realize at the market
Elsewhere similar declines were forced.
The undertore of the market is thought
10 have been improved rather than other
wise by t.l-Se later sales. Should the
London settlements 20 through satisfar-
torily the advance viii he resumed in. all
probability. Local conditions offer no in
ducements 10 a charge OF front.