Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-08-08
Exceptionally Strong After Holiday
Demand for Stocks.
LONDON A GOOD BUYER
Changers Were the Favorites in
the Bull Movement.
GENERAL MARKET REPORT

Special Dispatch to The Evening Star.
NEW YORK, August S.-After the dou-
BILE holiday London market for American
railway securities opened strong. with
prices well above our New York closing
prices of yesterday. Northern Pacific is
sues, st Paul, Copper shares and Coal
stocks were the leading features, the first
named securities being up on continental
buying in expectation of a forthcoming div
idend on the common shares. s.; Paul
was thought wen OF. too. on the prospective
heavy traffic receipts
While nominalIy lower in quotation,
Louisville and Nashville and Southern Pa
cific issues were not offered for sale
Oar own market opened fairly active
and there was comparatively good dis
tributon OF business. considering the vaca-
ton period and the dullness it engenders.
distinct iirmuess. however. was apparent
in the early dealings, and most Of the
changes in prices over the close of yester-
day were advances. These early gains ex-
tended to over point in Continental To-
hacco, while American Tobacco was up
point.
The grangers were strong, st. Paul being
the leader in that group. Among the other
shares showing fractional improvements
were Brooklyn Rapid Transit Penusylya-
ria Sugar, ST. Louis and Southwestern
preferred, Atchison preferred and Chesa-
peake ana Ohio. Higher London quotations
and good earnings reported for the fourth
week and month of July helped Northern
Pacific issues.
Anaconda was helped. too. by the greater
activity and strength displayed in the Lon
don market this morning. Anthracite Coal
shares displayed firm undertone, although
dealings in them were at n minimum. To-
ward the end Of the first hour Continental
and American Tobacco stocks had lost most
OF their earlier gains, while Atchison pre-
!eIred. on The other hand, exhibited a fur
Their rising tendency.
The early afternoon market was charac-
teriZed by extreme dullness. trading at
times coming to a complete standstul The
little business that was transacted how
ever. was on a rising market, and there was
disposition to construe favorably the &C.
ton Of the Secretary of the Treasury in ar
ranging for the issue of gold certificates
which, in the general opinion of the Lead
ers in Wall street, would at once relieve all
Tears OF a currency stringeucy. Money
loaned from down to 2l2 per cent.
The market for foreign exchange was
weak today at a decline of at least l-l6
over yesterday. There seemed to be no
special supply of bills and no noteworthy
collapse of the demand. Bankers regarded
the lower rates as Inevitable consequent
upon the accumulation of commercial bills
Toward the close the market showed a
little more life. and prices were advanced
to about the best figures of the day, the
trading in Northern Pacific and Union Pa
cl1ic issues being the heaviest
A late rumor on the exchange was to the
erect that Secretary Cage will send SI5 =
eOa00o gold to New York depository banks
Ihis runor could not be verified, although
the awakening in the market tended 10
confirm it. Northern Pacific earnings
fourth week July, increase $50 .S37; for the
month, increase $500 .6lS.