Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-08-16
FINANCE AND TRADE
Traction Shares Reoov cred the Losses
of Yesterday.
AMERICAN TOBACCO ADVANCES
Marked Increase of Business in Low
Priced Shares.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. August 16.-Prices hesitat-
ed slightly around the opening of today's
| market the new business being small in
volume and traders continuing the attack
on the Traction shares. Brooklyn Rapid
Transit was given better support than yes
terday. and rumor attributed the weakness
OF yesterday to the Withholding of inside
support pending the liquidation of an un-
comfortable short account belonging to an
influential operator However this may be-
better attention was given the stock this
morning, and under cover of the weakness
IN metropolitan and Manhattan the price
| was gradually advanced
American Tobacco was advanced sharplv
under good inside demand. and was
easily forced over the limit fixed earlier in
the week as the objective point
Realizing sales were encountered from
time to time. but the buying was not ma
'eriaLy cuttaiied on that account. Cont
mental Tobacco was advanced again in SYM
patry with the movement in the higher
clearly intended to be confined TO the
shares of the American company
Inc industrial list was not uniform in its
actlon, several of the new properties NOV
ing about without definite pllrpose and con-
sequentiy tending toward concessions in
price. "
tennessee Coal and Iron and the Smelling
issues are being allowed to accustom them
selves to the present level and are fulfilling
expectations In this particular
Inc best development of the day was the
increased business in Iow-priced railway
| issues Southern Pacific. Atchison. South
ern common and preferred and stocks of
similar price showed signs of new actiyify
Atchlsons July statement will be due in
rev days, and is expected to make an
unusually fine showing The predictions OF
the increase to be shown for the month
vary from Sooo.OOO to S10oOoo That the
amount VIII be larger is generally admitted
o"lns 10 the fact that increased traffic and
a material reduction of expenditures have
been reported from time to time
Inc preferred stock has been in favor for
many months, notwithstanding the recent
liquidation resulting from the crop scare
The stock is in class which seems destined
10 become popular because of its dividends
and It's relatively low price.
Chesapeake and Ohio entered the dividend
list by declaring a dividend of | per cont
on us shares. This property is the latest
addition to the list of roads which have
become prosperous under the combined in
nuencc or economic management and mod
efn business enterprise. The present year
has witnessed the fuliIlment Of practically
every dividend prediction that has been
ties.
Ihe predictions now made relative to
othef roads which may shortly enter the
sequence va
INC preferred shares of reorganized roads
nave paid dividends. and the common
SHARES are next entitled to consideration
In any event, there is prospective yalun
III ioW-pr1ced shares, and while there is a
certain value in the higher priced issues,
.heir present price can only be justified BY
future growth
An important meeting of the directors of
the Continental Tobacco Company is called
Tor this afternoon, and the question of n
dividend on the preferred stock may be
settled.