Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-06-25
Stocks Open Strong on Wall Street,
but Latterly Decline.
CHANGERS AGAIN TIE FEATURES
The Market, However, Continued
to Show Strong Undertone.
GENERAL MARKET REPORTS

special Dispatch to The Evening Star
NEW YORK. June 25-The attendance
On the hoor OF the stock exchange this
morning was considerably larger than Mt
any tme OF recent date. The volume OF
commission business WIS considerably inn
proved and substantial advances preyailad
during the opening hour
Inc granger shares were most I'm do
mand under the continued ieadershi, q,
northwestern. The early buyinr NJ ,h,.
property forced the price I'D over lls ana
no Significant realizing was noticeable
during the morning hour.
An interview with the President of Rock
isiahd' IN the course OF which II u,a,
stated that the stock would pay dividend,
NJ me rate OF per cent next year. had
companys shares ~ WI 'ha'
LONDON buying Of st. Paul and good Loco,
ouylng of Burlington were reflected In FRA.
iinasn,. auVances The statement of Bur.
viii De delayed for a day or two nrol,a al.
uhtii The first of the week Careful asti,
mates mates OF the showing to be made nut m,
increase In net at sl7OOOo SbouI5 80
amount actually be shown the ha,,aa, =.
the market price OF the stock should ana
prompt reflection I'm an Increased demand
ne strength of the granger shares nat
ufaiiy assisted the manipulatiyo odyanHa.
In the general market The entire ,n,s.'I
tone OF the speculative situation searoad "a
sea son. prosperous
During the afternoon this co,ai,io,
changed abruptly as the result NJ cxtapsi,.a
gold shipments. The total amount on
eageu for export tomorrow is so3oaos
.na M, KING the total loss for the week about
sf'Svoo Traders TODD advaatagr of the
movement to force a reaction from ths
high prices of the morning and in MANY
instances were substantially successful
me prohts rejected by the advances were
suhicient OF themselves to tempt realizing
al the close of the week. and whore hest
fancy existed at all IL was overcome 10y
the European demand for gold
AS previously noted, this overflow Is In
no way the result Of adverse International
trade balances. There is a commercial
pront In the transaction. and this alone
supplies the Incentive to the movement
The professional trading element has
eeen IN reactionary mood for several
Gays. but not because Of any unsatisfac-
tory development in the main situation
Inc plausible argument for a reaction was
pased on supposed willingness to take
pronts once the upward movement was
checked.
There are no arguments warranting. a be-
lief In an immediate material set back
American Sugar was disposed TO hesitate
Tor time during the morning. and the
belief prevailed that conditions al Washing
ton were changing to the disadvantage OF
the property. A spirited buying movement
set In later in the day and forced the price
up per cent.
The short interest in the property is said
to be unwieldly and restless. The de-
struction of its present dividend capacity
has not even begun, and shrewd Observers
intimate that the Dingley schedule never
impaired the stockholders present income.
The latter rates may and probably will
prevail, but il the dividend is unmolested
the action Of the stock after the adjourn
ment Of Congress will not be difticult to
determine
The purchase Of the control Of the Bay
State Gas Company by the Standard OIL
brought the former property into notice
this morning, but not to the advantage OF
the price.