Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-07-23
FINANCE AND TRADE
Bears Make a Vigorous Effort to Raid
Wall Street.
WITHOUT SIGNIFICANT RESULT
Granger Shares Were Again the
Features of the Day.
RESULT
GENERAL MARKET REPORTS

Special rispatch to The Evening Star
NEW YORK. July 23.-London cables re-
nected a favorable change in speculative
sentiment at that center this morning. and
the selling orders of the last day or two
gave way to liberal purchases throughout
the international list. ST. Paul was es-
pecially favored in the foreign buying. but
local realizing prevented any significant
gain as the result of this new business
opening prices in all departments re-
hected some improvement, but the reac-
tionists worked vigorously in the interest
OF depression. Some irregularity followed
from these efforts, but no significant de-
clines were accomplished.
The undertone of the market was decid-
c1ly strong. and substantial gains were
only prevented by the customary profit TAX
ing.
The passing of the tariff bill in the SEN
ate is relied upon to supply the incentive
to demonstration of approval at the close
OF business tomorrow. If this event is
not disappointing it is likely that the new
strength of the market will be taken ad-
vantage of to realize profits.
A decline of perhaps per cent would
probably allow most of the speculative
long accounts to iquidate. Once selling of
this character is disposed of the new buy
ing should reflect the aggressiveness of
the capital recently made In the stock
market Money derived from successful
r'arket ventures is literally risked In the
hope of duplicating such successes.
Confident buying in the presence of ia
vorabic earnings Is within reasonable ex-
Fectation. The market has had a substan-
tial rise and some setback is believed to
be imminent, but recent sales in the short
account have been singularly Improbable
Buying at the decline is consequently more
likely to find favor than selling on the rail-
lies.
Some gold will be shipped tomorrow.
probably only 100000, but the banks Will
supply the coin and not the subtreasury.
Orders for similar amount were Cancelled
later In the day, the margin of profit not
warranting the undertaking. Tuesday s
steamers Will take out at least $.aWUOu.
but the special causes of the outflow are
too well known to occasion any alarm.
The granger roads were again the fea-
lures of the stock market. Burlington ad-
vanced IL per cent on good buying cross
ing St Paul in the process
Tnese two properties are now selling
about at a parity. One has corn crop
TO move. the other wheat crop. Both are
after this quarter. Burlington has still a
large uncovered short interest, and St
Paul finds favor in the eyes of the Stand
ard Oh Interest. now So heavily committed
10 Improvement in the security market
The buying of each is therefore about
equally confident, but sooner or later Rur
nhgton will suggest a refundins scheme
should follow
The various specialties were again in
good demand. but the volume of the buvinp
was less liberal than yesterday. Sugar
showed some indication OF a return of in
.erest en- tne part of the larger traders, and
up from the opening level. The
relghboring industrials We're also strong
tobacco especially conforming to recent ru-
nors OIL favorable inside developments