The times. [volume] (Washington [D.C.]) 1897-1901, 1900-07-11

NEW YORK, July i0.-In so far as actual
development of novelty and Importance
were concerned, there was very little
which would account for the course OF
prices in today's stock market. Close OBJ
servers of the dealings were unable TO
furnish any more satisfactory reasons
for the advance than that the shorts were
covering and the room was bullish.
Whether these technical circumstances
adequately accounted for the tendency OF
the market may be open to question, but
there was no doubt whatever as to the
confident tone the trading showed.
There were few matters which appeared
to engage sufficient amount of atten-
ton to be designated as influential in the
trading. The grain market, to be sure,
was reactionary, but its tendency was
rather a reflection of the foreign markets
than Of any advices from the wheat or
corn belts. The character of the inteili-
gence from China was indecisive as here
tofore Specifically. the dispatches from
the Orient appeared to be somewhat more
encouraging, but in view Of the facts so
frequently set forth of late that one day
Information is apt to be absolutely contra
dicted by the next. II can hardly be as
sumed that any intelligent operator would
make the dispatches from China the basis
for speculative ventures.
Perhaps the most tangible influence in
the trading at large was the multiply
ing testimony in regard to reported dis
eensions in the Democratic party as the
- H.. sha af-
form made at the Kansas City Convention.
1t is. of course, possible that the Presiden-
tial campaign may loom up as disturbing
factor in speculation with the course OF the
summer, but ii can only be repeated that
there is apparently small warrant why 1t
should.
London was not factor of any ac-
count in the market either in respect to
the quotations or the subsequent dealings
furnished from that quarter. The London
market is naturally more sensitive to the
critical situation in the Far East than
the local one. yet its tone today was fairly
steady. although interest in the American
quarter was reported at n low ebb.
The local market opened quiet but
steady, and with the course of the morn
ing tone apprcximating actual buoyancy
developed. Advances averaging / per cent
took place In Northern and Union Paci-
ic. the granger shares. Louisville and
Nashville New York Central. the anthra-
cite shares. and Baltimore and Ohio In
none Of these instances was there any
thing novel in the way OF news or gossip
attending the dealings.
More favorable news as to the dividend
prospects for Louisville and Nashville
and Baltimore and Ohio. were. however,
effective in TIE dealings in those stocks.
Illinois Central on the other hand. in
which case favorable expectations regard
Ing the next dividend are also entertained
was reactionary.
There were a number of noteworthy
advances, also, in the industrial quarter
and among the specialties. Peoples Gas
was conspicuously strong Brooklyn Rapid
Transit advanced sharply. although the
dealings in that stock were still charac-
terized by considerable irregularity, and
Sugar Refining. the Tobacco stocks, and
Tennessee Coal and Iron rose rapidly
Brooklyn Rapid Transit was again the
conspicuous feature OF the market in re-
spect of activity. Its course today was
not accounted for by any particularly
novel developments. II may have been
due simply to considerations of the value
OF solvent street railway stock occupy
ing the territory and enjoying the fran
chises belonging to the Brooklyn Rapid
Transit Company.
Whatever may be the showing made in
the company's official annual report, it
would appear d safe conclusion that the
future will develop equities in this stock
that will render Ii attractive to patient
capitalists and operators at it's present
level Yesterdays advance in tie selling
price Of refined sugar, together with the
familiar manipulation of the stock, ac-
counted sufficiently for the course OF
American Sugar Refining.
The market developed increasing ami
nation with the course of the day and
interest became more widely distributed
The bituminous coal shares, including
notably Norfolk and Western and Chesa-
peake and Ohio, advanced on large deal
ings. and all OF the steel stocks. par
ticularly American Steel and Wire, were
very strong.
As was the case early in the day. there
was little aside from the evident radical
change in sentiment which would account
directly for the increased animation evil
denced through the market. The declara-
ton OF per cent dividend on Louis
Vile and Nashville was announced late
In the afternoon and was followed by a
further rise in that instance.