Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-08-11
Big Volume Of Business Transacted
on New York Stock Exchange.
PRICES GENERALLY RULED HIGHER
Realizing Sales at the Close Cause
Slight Reaction.
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, August 11.-Opening prices
| this morning were generally higher as the
| result Of Increased earnings encouraging
crop conditions and an increased demand
from London.
Foreign houses sold for a time, but later
| became buyers Of the favorite inferno tional
issues. st. Paul Northern Pacific pre-
| ferred and Union Pacific were in good de-
| nand for foreign account.
Fears CT tight money in London. due to
| probable outward movement; of gold to
the United States. were reflected in the
price of consols and the general European
security issues.
The certain application of these condi-
items to local betterment being recognized
abroad, the moderate increase in the de-
nand for our securities followed. Inter-
ests now identified with the advancing
movement would undoubtedly utilize GOLD
fmportations to their fullest extent.
Routine events continued to be encourag-
ing, and extraordinary indications Of re-
turning prosperity will simply lessen the
effort and double the result
Buying on all concessions continues to
be the policy Of the most conservative i'll
terests. Two days trading, amounting i'm
all TO the fnterchanging of over 1.200.oN
shares of stock has improved instead of
detracting from prices. The professional
buying power is not equal to % per cent of
such an aggregate, and a strong public de-
nand must be admitted. Syndicates. cor
porations, pools and individual investors
combine in making prices now, whereas
put Few months ago a handful of pro-
fessionai 5obbers were intrusted with this
responsibility.
reactions under the circumst ances are
only natural. and act as safety valve to
situation which oyer-enthusiasm might
rob OF its best qualities.
The Granger Cd
trine beyond the weeks best level, and
earnings were again the inspiration to tie
de mand. Corn and wheat going for
ward in quantity. and new dividend pros
poets are increasing On all sides in con-
sequence.
The coal shares, as a group, were in good
demand. interest centering especially i'm
the serial Reading issues. The first prefer
cnce stock of this company is being pushed
forward by the most conservative houses in
the street. The common stock shares its
strength TO degree. but possesses no
no value but speculative.
A short interest in New Jersey Central is
likely to be made the subject of a sharp
attack in tie near future.
The Northern Pacific issues advanced
easily III der good demand. Berlin has re-
stunned purchases Of these shares and this
fact is regarded an indication of a COM
plete understanding as to future manage
ment Increased earnings, both passenger
and freight, contribute to the success of
the present movement. Large blocks of
the preferred stock have been accumulated
quietly during its recent periods of ap-
parent neglect, and its support today
around 80 was fully as good as when it was
ten points lower.
Missouri Pacific in particular and the
Gould group generally are expected to
advance to points which vii! more nearly
duplicate the improvement in neighboring
issues. The former stock by reason of
its low price and future prospects is most
in favor.
The customary realizing toward the close
of the Gay detracted slightly from the
previous high level. but the undertone was
Enthusiastically strong.