Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-08-25
Dizziness Followed a Steady Opening
on Wall Street Today.
ADVlCES FAVORED BETTER PRICES
Railroad Reports Nearly All Show
Increased Earnings.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star.
NEW YORK, August 25.-Opening prices
this morning were generally steady arolnd
last nights closing parity. Notwithstanding
foreign sales. The defeat of the British
forces in India had tendency to develop
some pessimism in foreign speculative
circles. but the American department
yielded only fractionally.
Locally prices were influenced by the
sales of the room element, but the decline
never assumed significant proportions
Dizziness. due to decreased commission
house activity, was marked during the
early afternoon, but traders lacked the
conviction necessary to force decline.
Routine developments were. perhaps. a
tribe more encouraging than at any period
OF the markets improvement. Earnings
were especially good and exceeded in many
instances, the liberal estimates previously
made. st. Pauls report for the third
week in August reflected a total of s619. 900,
or an increase of s44. 500 over the same per-
iod in 1885, This showing is the best for
that particular week. with the exception
of 1892.
Missouri Pacific reported an increase of
siooVoo for the week, and the Southern
an increase of $4,000 for the full month.
/. critics did equally as we'll and in every
instance the market reflected the changed
conditions
Burlington's increase for July is esti-
mated at 100000, and Reading for the
same period is estimated to have added
SoOO,OOO to the July, 1896, totals.
These figures reflect the substantial
arguments for improving value. Capital
rarely acts biindly, and its present en-
pIoyment is no exception to the rule
The properties inviting the best buying
are those offering the greatest induce
ments. Intrinsic merit has become appar-
ent even to the skeptics, and manipula-
ton is no longer regarded as the only
means of improving prices.
The vanderbilt group, which. il may be
remembered. took the initiative in the ad-
more conservative buyers New York Gen.
tral and Northwestern are the features of
the group. the former being especially in
demand.
Important developments in this group
should find ultimate reflection in Omaha
through sympathy If not from unity of
Interests. Grain tonnage and the demand
Tor manufactured articles in the west are
being relied upon to considerable extent
for the improvement predicted in the above
properties.
Rock Island and ST Paul are to deter
mine the question of dividends during the
coming month, and theories are about
evenly divided on the action. Both prop
critics have earned enough to increase pres
ent rates. but it may be considered better
policy to retire the surplus funds. This
action would disappcint few of the purely
speculative holders, perhaps, but no seri-
Gus selling would follow In a steady mar
het.
burlington resisted the temptation to in
crease It's rate at the first indication of
prosperity, but no one seriously doubted
the wisdom of the course, as the present
price of the stock indicates
Inc coal shares were moderately well
supported, but the aggressive advance
movement is delayed for some reason
Gold imports are becoming more and more
of a certainty The foreign demand for
wheat was described as good today, and
bills against previous sales are already in
the market London hesitates to buy our
stocks openly, but there are some issues
going abroad nevertheless. If the foreign
money centers are to ship US gold it is en-
tirely within reason to expect the far
sighted foreign investor to buy stocks in
a market to which he is lending the in
centive to advancement.