Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-06-27
Vanderbilt Issues Were Again Stock
Market Features.
LONDON A LIBERAL BUYER
Belief in Better Prices Result of
Good Crops
GENERAL MARKET REPORTS
,ecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. June 27.-The leadership
assumed by the Vanderbilt and other stand
ard issues In yesterdays market was mani
rested again this morning. and with excel
lent results. London is estimated to have
taken upward Of $4,000 shares of stock so
far this week. a circumstance Indicating
confidence in that market. and one certain
to influence exchange rates and prevent
gold exports. Locally there was good buy
Ing of Union Pacific. Atchison preferred.
the grangers. New York Central and Penn
sylvania.
The market which follows such a sroup
OF issues cannot easily depart from the
best principles of conservatism and merit
Earnings and the uniform increase in the
surplus funds Of the entire Vanderbilt sys-
tenn are quite equal to the recent advance
without the aid OF premature announce
ments of the transcontinental and New
England extensions.
In the granger group there are two Sig
nifcant factors at work. One is the fact
that the grain receipts at Chicago clearly
Indicate the farmers confidence in the
crop he is going to harvest. since he Is
willing to sell the one already In his bins.
The second is the fact that where winter
wheat acreage was known to have been
fruitless new crops were planted and
more than a fortnight crop news should as
sure positiveness which will allow for a
very clear estimate of the next seasons
traffic. At the present time there is q gen
era4 confidence In the prospects for an aver
age crop.
The Industrial price list showed ten
dency toward hardening somewhat. but the
market refuses to be dominated by this
class Of stocks, since the standard issues
are receiving the attention Of their largest
holders.
The dissolving of the Federal Steel IN
junction, at the instance of the plaintiff,
was reflected in higher and firmsr prices
for those shares. The Steel and Wire is
strength OF the market, but clearly show
that IL Is an effort to asslmilats to the ex-
tent of becoming steady.
As the listing committee adjourns this
week until September the much-disoussed
statement to the exchange cannot be ex-
pected for two months at least Mean
while, however now that litigation has been
Withdrawn in the case Of the Federal Steel
dividend the oversensitive and tirnid man.
agement of the wire company might al it's
own convenience, take the question of divi-
bends up again.
The traction shares were in better de-
mand for a time, the buying coming from
both long and short accounts Belief in a
scrip dividend on Metropolitan begins to
crystalize, and certain inside interests ara
reported TO have offered 10 per cent for the
next two years dividends on the stock of
that company. The market movement is
kept within relatively narrow bounds. but
there is evidence of careful watching by
strong interests.
The street is returning to fits familiar and
established argument that commission bust
ness can only be encouraged through the
medium of higher prices. IL the business
will come by the application of this device
the next ten days should see a broader
market.