The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-08-28

worth considering. in view OF the we'll
known primary considerations that are
influencing financial and commercial mar
ks all over tho world. These include
tn. enormous and rapidly increasing pro-
duNaon of gold. low rates of interest, partic-
ularly in this country, and tho brcadstuffs
situation. with its logical influence upon every
industry in tho United States. These under
lying considerations may DO modified or
tempered, from timo to time, by specu.
lative conditions and various events caus-
ing fluctuations in the markets for securities,
grain, cotton and other staple products; but
their force cannot be materially or permanently
impaired. AT times they appeal moro strongly
TO the investment and speculative
ties than they do on occasions when overbuying
and sales to realize profits produce n reaction in
prices. The fact remains, however, that q sub
stantial basis for Improvement in business Of all
kinds exists and the superstructure erected
upon it may surpass tho expectations Of the most
sanguine.
The heaviest dealings on the Stock Exchange
wero in the Granger stocks. with Rock Island
making tho greatest progress toward higher
prices and st. Paul first in respect to activity.
Tho st. Paul statement for July, printed
further on In this column. was regarded by
tho professional element rs disappointing.
Traders, therefore. sold tho entire list when
III HRuTeS NcT0 IuHu0 puUlC Boon aItcT
midday. The recessions thus brought
about were insignificant compared with the
Improvement in prices that took place ear
lier in tho day under the stimulus of q
higher market for American securities
in London, moderate purchases here by
foreign arbitrage houses. and tho re-
appearance of commission orders for long
account. In the later dealings the buy
ing was even moro aggressive than earlier
in the day. and in consequence tho
list, with comparatively few exceptions.
closed higher than last night. As has been
the case for several days past a number
Of stocks sold at the highest prices
recorded for them in tho present move.
ment. Rock Island. at n net advance of
2points. was most conspicuous in TINT category.
1t is now generally regarded as a ~foregone con-
clusion that the management OF the Rock Island
Company will feel warranted by present and
prospective earnings In placing its stock upon q
4 y cent. basis when the next scmi.annual divi-
dend is declared.
Other strong features OF the market were
Chesapeake and Ohio. Missouri Pacific. On
tario and Western. Southern Railway pre-
ferred, Tennessee Coal and Iron, Laclede
Gas, c., c., c. and st. Louis. Colorado
Fuel and Iron. st. Joe and Grand Island, and
the "Nickcl Plate stock. Tho speculation in
tLC ptoCho WAS uuScu upon IuC Stebuy IN
provement in the iron-producing and mnnufac.
turing industries. The advance in the Chcsa-
peake and Ohio securities is explained by the
synopsis of the company's annual report. print
cd further on in this column. Regarding La
clede Gas, it has been understood for
some time that the management contem-
plates paying of the accumulated dividends
upon the preferred stock with the view OF
beginning tho payment OF dividends upon the
common early next year. Favorable traffic re-
turns werc apparently responsible for the ac-
vances in Missouri Pacific. Southern Railway.
and st. Joe and Grand Island. Tho revival
of activity in Ontario and Western was accom-.
panied by a report, which lacks confirmation.
that the company is about to declare a dividend
upon its preferred stock. and by doing so e1.
tinguish the voting trust that controls the COM
mon stock.
According to O trustworthy forecast OF tho
July statement OF the Atchison Company. that
company will show gross earnings for tho
month mentioned Of 1925. 900 in excess of
those for the corresponding month last year.
The greater part of this increase will
also be shown in the net earnings. For the first
week in August the gross receipts were approx
imatcly 100000 larger than for the cor
responding period of last year, while the
increase for the second week was even
- hheh III AN hlbt. III OIlDdn
will show that during the year ending June 30
1t earned 4la y cent. upon its adjustment bondo.
AS a part Of the surplus earnings have been
spent upon the property. only 3 e cent. will be
paid upon those bonds next November; but
the physical and financial condition of
the system. together with its traffic pros
poets which ure steadily materializing, war.
rant expectations of the payment of full inter.
est upon those bonds for the current fiscal
year and the accumulation OF a consid-
crablo surplus applicable TO the preferred
stock. Among the less active shares local gas
securities were most prominent. OF these, East
River Gas closed > points higher than yester-
day, on the publication of statements that
the opposition of certain stockholders of
the Equitable Gas Company 10 a CONSOLE
dation of the two concerns has been overcome,
Metropolitan Traction advanced 3 points on
light transactions and Manhattan Railway
gained half as much on comparatively moderate
dealings. An incident of the day was the sale
OF 100 shares OF Pennsylvania Railroad in the
Unlisted Department. Tho closing was strong
at about the best prices.
Final sales compare with those of YESTERDAY
as follows:
Aug. 90. Aug e. Aug. 90. duo. OF
A.T&SFe. l5l l5A nor Amer. 5a FIJI
A.T&sFep 32h 33S Norf & p 81 37Ns
Am Cot OIL. COS 2O% n eom...120h 1907
Am S Ref .l4S's 11Sa \ Pac com. l7l l7%
Am Tob.... 81 OH y Pac pr. 19t 6Ola
Am sp NJ. l4S ID ny Cent..1OS7s O.
Brook r T.. 32Ts 81 NJ Cent. o8A e5L
Canada So" Ssh 66% Omaha com 90 6Ss
coca stL 34b $50 Ont W.. l7t 49,
B&Q eob e7'r Pc Mall. 331 33Ss
Con Gas....lsSt'l68 Rock Island 87h sob
ches & o.. 24H 25 reading. 26'. 27
Chic Gas...l02's 1927 Read LIST pr 54ia 642
D q pr. 47ia 47i2 st + COM. 93s4 o4Ss
Erie Ct. a.. l7os l77s st Paul p... l13La l13's
Gen Elec..' 81 37s So Rwny ;. lOb liz
Illinois Cen1o6 1861 So R'way p 34a. 36is
Kan & Tex. l4a l5s ,stLsw.., Ga Oh
Kan & T pr. 357s &c Stand "a III
Lou & Nash 6os Ga Texas Pac.. l3I 1879
Laslsde Gas AZ Al. Ia r.. 29s 80
Mani Con. l05 1909. UnP, list p ~ l7L
Mich Cent. / O7s1 q Rubber a 70