Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-09-11
New York Stock Market, Though
Irregular, Showed Net Gains.
REALIZING SALES WERE CONSPICUOUS
Granger Shares Were in Good
Demand at Best Prices.
GENERAL MARKET REPORTS
Special Dispatch to The E,erinC star.

Special Dispatch TO The E,erinc Star
NEW YORK Sept e.nbcr II.-TLe fen.
dency of prices this morning. while some.
what irregular al times. was mainly in the
direction OF Improvement. Tho opening
level reflected advances of moro thu, on.
per cent In few instances. ana whenever
actual declines were recorded the amounts
were insignificant
Realizing sales Were conspicuous az was
10 have been expected. but the under,on.
was Enthusiastically confident. The gravity
OF the coal strike I'm Pennsylvania was.
naturally, deterrent influence. but no con
siderable selling was recorded. even In TN,
shares most concerned. Reading issues re-
coded fractionaly. bat no indications of
actual alarm were noticeable The higher
priced coal shares closed AT or above last
nights parity.
The granger sharts were in good demand
up &c the best prices OF the year. St PAU
ard Burlington literally traded IN on
almost the same footing and are generally
expected to advance in the same position
for perhaps ten points further.
Rock Island. Northwestern and Omaha
are also in good demand at new prices.
The first named is likely TO cross par on
its forthcoming dividend action.
Once the pres program In the Granger
shares is fully executed "A new group OF
stocks is likely TO be taken up and i'm
of the present market movement continu"
TO pursue this policy of moving one set of
securities at a time until uniform level
is established. By this device profits ara
easily taken in one group under cover OF
the strength I'm another.
Weak spots are consequently avoided. and
tie surface indications OF strength are
scarcely ever lacking. The su,,..,sS of such
action throughout the entire summer clear
ly demonstrates the presence OF superior
basic conditions.
Intrinsic merit alone can mako such a
record as that of the last ten weeks.
Among the securities likely TO be
given places OF prominence in the very
near future are the Southwestern issues
handling 10th cotton and grain.
The earnings of all the roads engaged in
the handling of these products are certain
TO show enormous gains. The low prices
at which they are selling are likely to in
cedent.
The question Of interest. while always a
factor In speculative accounts, may be
come ono of supreme concern in the near
future, as a glance at today's bank set
tiement will show. The decrease in lawful
money during the week has been 1891
200. nearly all in legal tenders. This
amount IS larger than that indicated by
the daily returns and the best estimates
founded thereon.
The general business of the country has
began TO absorb the idle funds of the banks
to an extent warranting a more active
money market. The enormous crop move
ment is of course. largely responsible FOR
the interior demand. but commercial ac-
uvity generally is increasing all sides.
The increase OF sI,3l2.t go in loans is prac-
tically offset in the deposits by the loss In
cash to out-of-town institutions. The net
result of the statement is shown 10y de-
crease Of s1.i45.:;25 in the surplus, bringing
the total reserve down to sa6.G6S. S2,.
This sum is fully ample for present needs.
but the continuation of the interior demand
on the present scale would certainly make
the money feature of primary impor-
lance in the stock market.
At the moment, however. earnings are
depended upon to admit of complete eN-
ecutioa of the original bull program