Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-06-23
FINANCE AND TRADE
The Granger Shares Show Strength
Again on Wall Street.
some CALL FOR VANDERBILT STOCKS
Gold Shipments Used as Bear
Argument Without Effect.
GENERAL MARKET REPORTS
Special Dispatch TO The Evening Star.

Special Dispatch TO The Evening Star
NEW YORK. June 23.-The resumption OF
business in London, as was anticipatei
yesterday, was Upon an improved basis
me gains in the local market being fully
duplicated at that center
moderate buying demo nd from foreign
houses encouraged some good buying by
Traders as well as commission houses.
81 Paul was the active feature OF the
morning. selling UP over ~ on a confident
demand from the room. One of the most
prominent traders in the present market
was an active buyer of this property. pre-
sumably for his own account While the
merit OF the property is not questioned,
purely speculative buying of this character
is not beneficial to prices. 4 tritiing adj
vance over the cost price is liable to invite
prompt realizing.
Northwestern was given excellent sum
port Notwithstanding the fact that its
statement of earnings for May was dis
appointing This expression OF confidence
in the wisdom of refunding schemes being
superior to prevailing conditions must be
regarded as especially significant. Bur-
llngton is expected to show a handsome
Increase in earnings for May. and is gem
orally relied upon 10 make rapid strides to-
ward complete recuperation.
In this particular IT is well to consider
that this company has opportunities for
carrying out a brilliant refunding plan.
An Indebtedness of about Sio.pn,ao, now
bearing 4 per cent interest. is approaching
maturity. and could undoubtedly be re-
funded at or ) per cent.
The saving IN interest thus effected
would leave an additional l per cent appli-
cable to stock dividends Methods OF this
character are extremely popular iust row,
and are seemingly destined to play con-
spicuous par; IN mdSumric" financial ,I-
terpriseS.
The Vanderbilt properties are again in
good demand by conservative investors.
and the street is beginning to believe that
these properties will lead a second outb Irst
of enthusiasm just they did he first, six
weeks ago. The desire to sell the market
| is almost at a minimum, and an occurrence
beyond the ordinary must prerede any
material change in sentiment
Gold shipments are being empha sized at
every opportunity, but yet the real own
ers of securities show no alarm. An en-
gagement of $6tb.0O for shipment tomor-
row will come largely from the subtreas-
ury, whereas heretofore private sources
have been fully equal to the demand.
The declaration of the usual July divi-
Gends by variety of railroad properties
| Giscloses the fact that small additions have
been made to the surplus accounts after
the usual distribution to stockholders. This
condition must be regarded as encouraging
and lends color to the many runners OF
Increased dividends toward the close of
the year.
The industrial shares continue active.
but are still somewhat erratic. American
Sugar was advanced for A time on what
appeared to be good buying. but reacted
sharply on selling equally as good. The
passage of the tariff bill is likely to pre-
| cede further pronounced activity in this
property.
Chicago Gas was strong under new buy
ing by old friends. The fears of compeli-
tioE are gradually disappearing. and IT'S
dividend capacity is once mora reflected on
the surface at the stock movement
The undertone IF the market AT the close
| of business indicated no lack of cohfden ce
| in future results.