Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-07-28
Good Buying Of Industrials by Com
mission Houses Today.
Big INTERESTS IN BACKGROUND
Southern Pacific Also Met With
Good Demand.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, July 2s-Under the inn,,-
enee Of crop advices and the prospects OF
easier money over the first of the month
the volume of commission house business
was nouceably improved this morning.
LONDON bought few stocks, IN spite of the
iact that Mr. Balfours speech contained
fa'her 100 many pessimistic expressions TO
auihit ot nuoyancy In the home markets
III d IeW instances there were evidences Of
ne" buying by certain able clioues who
are credited with an intention OF resuminp
active dealings during the coming week
some color was given this argument be-
cause OF the manner In which the buvine
was conducted and the class of securities
innuenced. For instance, American Sugar
and the Tobacco stocks were marked i'm
under good demand. The former proper
" was taken in round amounts by brokers
VINO frequently represent interests similar
To those represented by today's active buy
ers of Tobacco
IL Is. well known that Influential oper-
ators In both stocks are expected back
from their summer vacations early next
month. and today's buying was put down
to desire to anticipate the new business
which will follow the return of the most
Interested parties.
Southern Pacific attracted unusual atten-
ton by reason OF increasing activity on an
advancing scale. The stock has held well
recently, but has been neglected
Todays trading was credited to large
banking interests identified with the re-
financing OF the property and the benefits
resulting from the absorption OF Central
racine, as provided for in the increase of
the capital stock to 500, 100000
In a broad market the low-priced issues
should have conspicuous place, but the
immediate market may not allow for such
uniform advance will allow stocks OF
actual and those of merely prospective
merit to advance side by side
The bank statement, with all fits short
comlngs as an indicator of the country's
finances, will be offered tomorrow as an
argument for OF against prices. An in
creased reserve will be demanded as a
condition precedent to a favorable inter-
probation, and to meet this view a reduc-
ton in loans may have been an essential
qualification.
The Bank of England has recently
strengthened its reserves by such methods.
and last Saturdays local statement was
able to show a gain in the same manner.
Treasury demands. which have taken near
~ million dollars week from the banks
may now end for a time. and the crop
movement is scarcely likely to exert its
usual drain on local banks. Relief from
both these sources will help the monetary
situation, and in this view new business is
already being encouraged.
Big markets are rarely produced In dog
days, however, and after a review of the
years achievements there should be no spe-
cfal haste in forcing an advance.
Steadness and the refusal TO liquidate
are sufficiently encouraging for the time
being. The continuation of these charac-
terfsucs will force a natural movement to-
ward a higher level later on. 1t is better
to walt on a natural event than to resort
to artificial means. with the probable mis-
haps attendant thereto.