Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-09-09
FINANCE AND TRADE
This Was Red Letter Day in Stock
Market.
ALMOST TIE ENTIRE LIST ADVANCES
Dividends Were the Supporting
Cause--St. PauI's Good Showing.
GENERAL MARKET REPORTS
peciaI Dispatch TO The Evening Star.

Special Dispatch 10 The Evening Star.
NEW YORK. September o-opening
prices this morning reflected advances
varying from Ia 10 Ia per cent-the lat
ter for Illinois Central on the publica tion
of recent earnings. London prices were
frGctionally higher. and foreign houses
borght moderately in the local market
in sympathy with the continued evidences
of prosperity and the subsistence of the
yellow fever scare
Shortly after the opening hour realizing
sales became conspicuous in the trading as
the result of reported cold weather in the
west and some doubt as TO ST. Paul's next
dividend. For time the selling of the
stock named was regarded as conclusive
evidence against the popular theory that an
increased disbursement was assured.
A reaction of more than l per cent was
recorded just prior to the noon hour. hut
the sudden recognition of the fact that the
buying had been superior TO the selling
forced sharp recovery. Rumors that the
meeting had been called for September Is
instead OF today served to complicate tn.
situation. Subsequently the reports of n
quorum In actual session were announced
and the net buying inspired thereby forced
the price up &c par.
Around this price excellent support was
apparent. and the entire list responded
sympathetically. In consequence of this
record St Paul has conformed almost ex-
actiy TO the predictions of its friends ans
cutstripped Burlington. which has hither-
to had the advantage of the discrepancy in
price.
The latter property has not been per-
manentiy passed. however, and the Gus
tomary margin Is likely to again become
apparent In the daily records.
ROCK Island is the next member of this
group 10 meet the dividend problem. and
an increase in it's rate is thought to be NJ
least reasonably probable.
Missouri Pacific was well supported dur
ing the day on the prospects of increased
earnings TO be reported tomorrow. The
last weekly advance in this particular was
followed By sharp rise in the price of
the stock he nigh-priced specialties We're
again I'm demand around top figures.
Consolidated Gas sold at 2l2 during the
first hour, an advance of ; per cent from
the closing price of yesterday. Tennessee
Coal and Iron and Pacific Mail were again
active hut somewhat irregular Both
properties are making large gains in earn
inSs. however. and are i'm good demand by
the believers in the future Of the low priced
issues.
Southern preferred was bought by Lon
con and traders on the prospect of in
erased franc receipts during the balance
of the year.
The entire market is influenced. for the
frst time in many months, by the actual
earning ability of the several active is
sues. i mere iS almost no special cause be-
find an advance other than the showing
rade by the properties by comparison with
the same period in 1886
The market is on legitimate basis and
Is rejecting actual conditions. There are
no indications of a setback to the present
forward tendency
Rumors We're current on the floor during
the final hour that ST. Paul had declared
an extra dividend of l per cent. and the
whole list was unusually strong i'm con-
sequence. These rumors may he regarded
absolutely reliable