Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-08-23
FINANCE AND TRADE
Better Prices Prevailed in General
Stock List.
SHARP RALLY In TRACTION SHARES
Short Covering and Commission
House Buying Both Active.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. August 23.-Iiigher prices
in London and the general buoyancy in all
foreign markets resulted in initiative adj
vance in the local market this morning.
The specialties. particularly the traction
stocks, were given organized support and
We're more normal in their behavior than
on the two preceding days of the week
The brokers identified with the varying
fortunes of Brooklyn Rapid Transit were
liberal buyers of those shares during the
opening hour. something more than 10000
shares being bought in an effort to prevent
a further avalanche of selling by the bear
party.
The annual statement of earnings is still
variously explained, but the fact remains
that the management is confident of the
future of the property, and has nothing
more substantial than this testimonial of
merit to offer shareholders. All things con-
sidered, the publication of the statement
is an encouraging development. since stock
holders be the judge OF their prop
erty from the same facts as the so-called
inside interest.
No deception can be claimed by disap-
pointed buy ers from now on. For a small
premium any one can buy into the proms-
ing future of the greatest street railway
mileage in the world.
The buying of American Sugar and To-
bacco was liberal in volume and was di-
N!ded between the two accounts. The lat
ter stock was advanced very sharply dur
ing the afternoon. and, usual, the CONT
mental shares came in for a sympathetic
movement.
The > per cent advance in Tobacco helped
the entire industrial list and served to de-
tract attention from the recently weak
specialties.
In the railroad list there was some irres-
ularity, owing to further profit-takng, in
duced to some extent by the decline in the
Traction issues
The grangers were strong for time I'M
der the influence of Northwestern's earn
ings, showing an increase of SN12T 1871 for
the month of July. This showing was taken
as an indication of the enormous traffic
III the farming country in the west and
was expected to be reflected in the cur
rent returns in ST. Paul and Rock Island.
st. Paul. however. suffered fractionaIly
from realizing sales
Northern Pacific common became active
during the noon hour under the influence of
a rumor of a l per cent dividend to be
pald october l, making 5 per cent for the
year; With the common stock getting 3 per
cent there would seem to be considerable
merit in the preferred, assured of per
cent around present prices. The Union Pa
cihc issues were strong and in good de-
mand, earnings and dividend prospects be-
ing factors in their Improvement.
Southern Pacific and Southern preferred
We're left more or less to their own de-
vices, although both had momentary
periods of strength. The undertone of the
market was decidedly improved in many
ways, and should result in an increased
volume of business later in the week The
strength of the general market was sore
ly tried in the recent traction liquidation,
but confidence should be increased. now
that SO few fractions We're conceded during
that time.