Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-08-10
Slight Improvement in Prices of
Stocks Again Today.
BOOM IN LEATHER COMMON
Railroad List and Iron Shares Were
the Favorites.
GENERAL MARKET REPORT

Specisi Dispatch 10 The Evening Star.
NEW YORK, August 10-In the London
market this morning Americans opened duh
but steady, pending the decision OF the
Bank of England governors regarding the
discount rate. little later In the day.
when it was announced that no change had
been made in the discount rate, prices adj
vanced smartly gains in the general list
averaging from Is TO 3-S per cent above
New York parity. Good buying was noted
in St Paul. Louisville and Nashville Read
ing issues and Atchison preferred the lat
ter stock being bought in anticipation OF an
| excellent crop showing in the monthly gov
ernment agricultural reports. Erie securi-
ties were also in good demand in the Lon
don market, on the belief that forthcoming
reports of earnings will indicate dividend
on the preferred stock in the autumn
In the New York stock market the rail-
way list was somewhat neglected and trad
ing continued dull, with a growing strength
apparent.
Soon after the opening a little bull move-
ment took place in ;he iron and steel stocks
stimulated by the continued favorahIe re-
trade. " NV
American Steel and Wire preferred sold
at par being gain Of Ia per cent from
last night. the common stock together win
Federal Steel. National Steel preferred and
tennessee Coal and Iron, We're all up a
point, brunswick was advanced per cent
Local. traction stocks were only fraction
any hlSher- United States rubber preferred
was active and somewhat higher but the
trading in this speciality looked like match
ed orders.
American Hnseed oil preferred. Kansas
City, P1ttsburg and Gulf oregon Nayjga-
ton and Chicago and Eastern Illinois were
other strong features of the early specula-
ton. Easier money conditions seemed to
a ms II
some banks have had loans paid off because
they would not reduce rates below 3is per
cent. Time loans, however. are still firmly
held.
Toward noon the general market had be-
gun TO feel the strength displayed in the
iron and steel speciaiitea. and traders who
have been persistent sellers lately were
buying to cover their short contracts. and
at the same time commission houses were
executing some good buying orders for
long account. Tennessee Coal and Iron
ana Pan Handle were at this hour con-
spicuous features Of strength the former
crossing Sl-the highest this stock has ever
sold-while the latter specially sold above
-
A feature Of the afternoon market was
the heavy purchases of United States
Leather, common, a prominent broker tax
ing IN all about 5000 shares of that stock.
interests identified with the property were
reucent in regard to these heavy transac-
tons, but it was limited on the outside that
there Is TO be Reimbursement Of the COM
f1on stock issue, and that il may be scaled
down considerably preparatory to a dis
trlbution of some of the accumulated divI-
bends on the preferred stock
Inc general market continued strong.
with the Iron and Steel stocks still the
most prominent in point of activity and
strength.
Call money loaned at > per cent. Govern
ment bonds were UNCHANGED. railroad
bonds about steady
ST Paul earnings first week of August
l increased $i5' so; from July i. increased
S9eo'i2i Hooking Valley, first week of
| August increased S2It23: from July 4 in
| crease Sl25105. Baltimore and Ohio 'Julv
gross, increased s322 S5s Qhese are the
largest gross earnings for one month in
the history Of the company.