Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-07-31
Bears Fail to Stampede Stocks on
Yellow Fever Scare.
PRICES MOVED UPWARD UNDER FIRE
Strength of Market Shown Dur
ing the Past Week.
GENERAL MARKET REPORTS
Special Dispatch to The Evening star.

Special Dispatch TO The Evening star
NEW YORK, July 3I-The outbreak n
yellow fever in Virginia WAS made the oc-
casion of some selling during the opening
hour in todays stock market. Traders sold
the southern issues In anticipation OF liqul-
dalton by the actual owners Of such certifi-
Gates, but in this they were disappointed
The market halted. but there was no re-
cession OF significance. Toward the end OF
he first hour the tone strong and con-
fident, and the buying back Of stocks sold
earlier resulted in some very substantial
additions to first prices.
In the recovery no particular group was
| selected. but the entire list. railroads and
industrials. moved up together. This ac-
ton was taken an indication Of greater
activity on the part OF the larger interests
The buying of the so-called Flower issues
was good, Rock Island. Peoples Gas and
Federal Steel moving mp easily under
good demand.
The last named issue was strong on the
prospect of some satisfactory solution Of
the dividend question.
Ths Tobacco shares were strong under
the influence of an inside demand and the
prospect Of a considerable campaign in the
interest Of higher prices. American Sugar.
Car Foundry and Tennessee Coal and Iron
were all prominent features Of the indus
trial department. by reason Of higher prices
and an improved volume Of business.
northern racine ana southern racine
were taken in round amounts by comml~-
sion houses. the disposition being 10 buy
lCw-priCed shares, wherever merit remains
EndisCounted The developments in South
ern Pacific are surrounded with consider
able mystery, but the character Of the buy
ing is such 10 inspire CONFIDENCE.
The well-known physical condition 81 the
property will certainly allow Tor the Crca-
ton Of a dividend fund in the near future
If traffic can be kept up 10 its present VOL
umc-
The strength of the market is bet dem
onstrated by its rational action in the pres-
cnce Of unwetcome news An artificial pt.
manfpuiatiVe market would have taken
fright at Saturdays bank statement and
again today upon the prospect Of a quaran-
tine of the south.
Had stocks been held by traders lower
prices would have been assured But no
such holding now threatens prices and to
get up a genuine scare stronghold hold
ings must be liquidateG TO the extent of
giving professional Wall street a sufficient
volume Of certificates To handle
Small margins are not a factor and mar
glned holdings are in the main protected
against sudden raids or discomforting ac-
cidents. With tangible evidences Of com
merciai prosperity on every side the pub
lie is enthusiastic over the country's pros-
poets and the prospects for its securities.
Those who hold standard shares md no
arguments for their sale. and those who
are employing funds in business are con-
temp!atlng investments once their funds
are released.
Strong interests appreciate this fact and
are buying now in order to take advaut age
OF this increas in the public demand. Tn
der cover of this strength in the standard
issues there are many belated indust rial
enterprises to be converted into cash. The
should serve to make the latter process
difficult