Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-09-03
FINANCE AND TRADE
st. Paul Stock Took Boom on Wall
Street Today.
EXTENSIVE BUYING sent PRICE TO 80
All Granger Shares Received Mark
ed Attention From Big Buyers.
GENERAL MARKET REPORTS

Special Dispatch 10 The Evening Star.
NEW YORK. September 3.-opcning
prices this morning reflected advances
varying from Ia to l Ia per cent. and
later trading made substantial additions
to these figures in numerous instances.
The volume Of commission business was
good and more than equal To counteracting
the influence of heavy realizing sales.
The character of the buying has not
been eXcellei since the advance was in
aUgurated last May. The factors upon
which improve ment is based continue to in
spirc confidence in prosperity too large for
ordinary limitations.
London has been forced into more
accurate estimate of local values, and the
first intirnetion of the strength of toiays
market came from that side
Rumors of an extra dividend on ST. Paul
had been extensively circulated in the local
market after the close of yesterdays bust
ness, and later became factors in the Lon
don dealings. The price OF the stock al
that center was consequently ] per cent
higher than the local closing. The local
opening for these shares was excited, but
after the resumption of rational trading
the price was established at 81 81 per
cent higher than yesterdays final bid.
After period of hestancy. buying ON an
extensive scale set in, foTci lg tn, price Up
to 80. thereby making a new high record.
as well as leading Burlington. which, for
the moment had dropo "a back around -
on disappointing earnings.
Tls extra dividend ru prs. while credited
TO one or two individual directors are SUI
ficiently r. liable To war; AIT the belief that
the full board will be i'm favor of some such
action. The company IAN easily make ;he
Increase from earnings. and nothing but
ultra-conservatism on the part of the man
afement will postpone such action.
The so-called Standard Oil interests and
j. Z. Morgan a. Co. were credited with
the bulk of the buying today.
The following reports of earnings are OF
especial interest now that the Granger
roads seem to be on the eve of resuming
the leadership in the market Rock Island
for August increased S,15slo. st. Paul for
same period increased S2J6241. and Bur
lington for the month OF July Increased
$3.50. 10S
1t is only fair to note that the latter
property reports for period thirty days
earlier IN the grain movement than Is
neighbors. and that at present II Is ship
ring corn in volume never equaled in its
history. The total car lots over this
line are running over 100 per day. and
future earnings of the present fiscal year
will DE equal to some thing more than
per cent the stock
Western Union was taken up during the
afternoon and advanced to an entirely new
level. rhe earnings of this company IA =,
been improving steadily of late. and the
one-time doubt concerning its dividend
rate is no longer a consideration
The low-priced shares, particularly those
iiit5 -fdThel. were given
excellent support.
Heavy realizing was in progress through
out the day in American Sugar. During
the first hour new high point--l:59 was
established for the purpose of facilitating
the marketing of long stocks.
There WAS some hesitancy noticeable
throughout The industrial department. All
things considered the day was one of UNI
usual significance in the security market.
Big interests have taken hold where SINH
lar interests have left of. and the result
seems likely to continue to be successful.