Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-07-18
Indications of Stock JobbiBg ia
Brooklyn Railway Strike.
STOCK HOWEVER, MAKES ADVANCE
Favorable Conditions for Better
Prices in Railroad Shares
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. July 1s.--An absence OF In
terest in the London market inspired some
selling around the room this morning but
as usual. the absorbing power OF the street
prevented any material setback In prices
Later In the day arbitrage houses bought
moderately, as the result OF a more cheer.
ing prospect in the Transvaal and some i'm
proVement in the monetary condition. Com
mission house activity, while NOT renerarly
significant. was sufficient TO make a CON
siderable impression on certain OF the sna-
cialties.
The decision against the constitutionaIity
OF the eight-hour law In Colorado had the
enect OF forcing up prices in the shares OF
the American Smelling Company, the cor
porauon directly concerned. 1t is consid-
ered improbable that any appeal will be
taken from the decision. and smelling Off
eiais are confident that work will shortly
Oe resumed under exceptionally favorable
circumstances
mere Is an earning capacity in this con-
sohaation OF smelling interests which
shorld under proper management bring
'hese shares into greater prominence on
merit.
Some improvement in the strike condf
tons along the lines Of the BROOKLYN ranid
,.-s.
lfaf st system caused a covering Of ont
standlng short contracts which added llA
per cent to early prices. The prospect OF
the Striking employees returning to work
would have had a much greater fnfiupura
Lad Tot the prospect OF strike on other
lines increased
1t Is difficult at this time to accurately fix
the responsibility for the recent and nros-
pectlVe evidences of dissatisfaction Among
the local railway men. There are indica-
oions Oh unconcern or haif-heart resist
49, t on the part OF certain interests as TO
what the men do next, which suggest a
stock market operation. The public NAV
walk day or two if by doing so the stock
market may be turned to good account.
This, OF course, is an extreme view hut
one which has nevert heless some adherents
In downtown districts
inside interests are supporting these prop
ertes, however. and the lack of enthu-
slasm on the part of the strikers NAV ar
any moment result in the absolute aban-
comment of their present claims
railroad earnings, the basic condition OF
ali markets, having due regard for merit
as opposed TO manipulation, continue TO
show hattering increases When il is re-
membered that this same period one year
ago was one of recovery from depression
Couraging.
Routine conditions are favorable 70 bfph
er prices. A new level has been establish
co as the result of new conditions. few
men no longer control the standard prDp-
critics of the country and the periodical
avalanche of securities is no longer feared
hallway arrangements do rot az formerly
elect themselves solely with their own
holdings. and in order to deserve the prnx-
les which they need. are compelled to show
cause for the request
Better management and better values fol-
low. Prices are high because value has
been raised to A new level
Five and per cent securities are higher
than they have been for years for the af1di-
tional reason that the question of income
has become one Of the important problems
of the rich or well-to-do