Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-07-13
Overwhelming Subscriptions for the
New Issue of Mexican Bonds.
new YORK MARKET STRONG
Features of Trading Show Conf
dence in Securities.
BULL POINTS CIRCULATED

Special Dispatch to The Evening Star.
NEW YORK, July lS.-Londcn bank rate
advanced Il to 81 per cent Americans
conspicuously strong
The market for American securities Is
very strong. gains being general from .
to u per cent, Notwithstanding that dearer
money has been realized through the ad-
vance In the Bank OF England rate OF dis
count from to 3la per cent. The suescrip-
lions to the Mexican refundlng loan will be
overwhelming. and the bonds are already
at a smart premium bid, having already
been subscribed for here to the extent NJ
s25.9o9.oo9, the entire amount allotted TO
both this country ara Holland. The sub
scription closes Saturday in Holland, but
may be closed here on notice from London
or Berlin.
Brooklyn Rapid Transit was sold and
raided on the story Of renewed dissatisfac-
tion among employees, precipitated by the
attitude OF Mr.. Al johnson. former prcsi-
dent of the Nassau. who having sold out his
stock, now appears as champion OF the
men, and has contributed $500 to aid them
In demanding more recognition. IL Ii not
thought there will be any strike.
Buyers have been ..spilling" stocks since
the opening and playing for reaction,
using New York Ltfe Insurance Companys
decision not to buy any more stocks and
| to sell what they have, and the renewed
| strike talk on Brooklyn Rapid Transit.
There has been good buying on the de-
cline. The filing late yesterday by the
| Manhattan railway Of chattel mortgage
for $4,000 600 on its property was regarded
| by many as a bear card on the stock. hut
| this is really not the case. IL is not a new
mortgage. II is simply the registration Of
| the present S40,O00,000 consolidated mort
| gage. Under the former indenture the
| mortgage was drawn fer only coupon
bonds. OF late there mas been a demand
| for registered boz DIS. and the change has
hf-ar nd Si lTAlV IN non
| earnings of the Brooklyn Rapid Transit
| Company for the first eleven days show an
| increase of S35.SoO over the corresponding
| period last year.
| President McCurdy of the Mutual Life
Insurance Company says: I'VE have not
| the slightest idea of selling any of our
stocks. and we will positively not follow
the action of the New York Life The
| same news comes from the Equitable.
Posted sterling exchange sales have been
reduced to 1854 and 4.SSlz- Money Is in
free supply at 4,s to on fair to mixed col,
| lateral. Housman was a large buyer OF
Louisville and Nashville, St Paul and
| Northern Pacific Boston and western
houses were buying Burlington and Quincy
and Atehison preferred.
| Selling has been mostly scattering and by
! traders.
Total sales of stocks to noon. 22s.al6
bonds. 81. AZ 600 AT noon the market wa
| quiet, after a good deal Of covering strength
| of Goulds and Vanderbilts. due to renewed
buying revival OF rumors Of consolids
| ton on these respective groups The FED
| eral Steel Company has secured the con
sent of Judge Thomas of the United State
| circuit court In Brooklyn to grant hear1n;
| 20 show cause why the injunction agains
| the payment of the common and preferre'
. | dividends for the quarter. due on the 2Oth
| should not be dissolved The argument VII
| be heard on Saturday at IL O'Clock.
looks as IL the injunction will be dissolved
= Bull points are current in the board o.
, 1 Anaconda. The story is that the minority
| stock will be taken by the amalgamate
| company.
New York Central earnings for the mont
| of June have just been published. The
| show an increase of SJ60. 900. and the in
, | crease for the year ended June 80 was $ii0.
| 600. so that earnings for June more thai
4 | made up previous decrease. The earning
4 | 50 far this month are on a still large
{ | scale. passenger business being very good
London market closed lower at reaction
: | from best prices on New York selling
1 Consols reacted t-I6 for money and account