Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-08-18
Good Buying of Higher-Priced Rail-
way Stocks.
SHORT COVERING HELPS PRICES
The Industrial List Was Only Mod
erateIy Active.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK. August 1S.-rhe attitude Of
London again gave direction to the local
stock market during the opening hour. a
good commission house demand and fur
Their covering by traders improving prices
in nearly all departments. The stocks
which have been conspicuous on previous
days of the week We're again active and at
better prices. one new development. how
ever, was recorded, namely. an increased
demand for the higher-priced Granger
shares.
Recent councils on the part of certain
large interests have given rise to a belief
in an organized manipulative campaign.
and traders no longer insist on selling the
general market.
Monetary conditions are satisfactory on
the surface. bat at this time in the week
the probable showing to be made in bank
statement influenced prices. opinion diff
fered as to the net result of the exhibit.
but there is little likelihood OF "-rN signifi-
cant disappointment in this n...er.
Southern railway declared dividend of
l per cent on the preferred stock payable
October I: to stockholders of record, Sep
TENDER II. The dividend Is charged as of
June 80. the end of the company's fiscal
year. Something over s2.Oo0.ooo remain as
a surplus after all charges on that date
The progressive management of this prop
shares for months and inside interests are
very confident of its future.
In Southern Pacific advantage was taken
of its level to realize on stock bought
earlier in the week, over l per cent being
conceded in this process. Around ~, how
ever. there was still good buying Of the
stock by the banking interest identified
with the new plan. Large blocks of Cen
trail Pacific stock changed hands during
the day. the same interest being buyer
The traction stocks We're again support
ed by inside interests but it is evident that
the public Is less sanguine of such issues.
i considerable volume of pesSimiStic liter
ature has been put in circulation tending to
throw doubt on the value of these particu-
lar stocks, but Notwithstanding this fact
the strongest interests in the local traction
situation have been in frequent conSulta-
ton Of late, and it is thought that the in
centive to higher prices will not have been
exhausted until at least more deal or
consolidation is made
The Industrial list vas only moderately
steady, American Steel and Wire being
weak at times and having a tendency to in
ftuence its neighborS into similar action.
A feature OF the industrial speculation was
Electric Boat, new candidate for specu-
latIve hOEorS. The common and preferred
shares OF this company We're strong all Gay
under manipuative demand.
The general market acted well. and is be-
ing encouraged by the leading commission
houses The early return of important in
terests from their vacation trips is relied
upon to continue the present revival of
optimism. In the main, the situation is an
oDportune for this new business. but
there is scarcely the breadth necessary to
sustaining prices without encountering fire.
qLent reactions.