Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-07-03
Stocks Had a Buoyant Tendency at
the Opening.
DUE TO FOREIGN QUOTATIONS
Bears Made Unsuccessful Attempt
at a Raid Later.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star.
NEW YORK. July BIN the London Sc
| curities market this morning American rail
way shares were steady to strong, bu
without special feature
The Berlin market was quiet with north
ern Pacific issues ruling a shade better
than London quotations
The local stock market opened quietly
but with a very buoyant feeling FREEDOM
mating. Prices showed advances OF from
V to Y over Mondays closing figures Som;
commission buying was reported and III,
bears did a little more covering Londcr
was not a factor in the trading, though. 4.
was the case yesterday. 1t was & modera t
seller.
The coal stocks, with Jersey Central IL
the lead, was one of the strongest feature,
of the early trading. The large export de
mand, the advance in coal prices and NOR,
talk of a consolidation of anthracite in
terests were the factors of strength.
The grangers were In better demand fol
both accounts. because OF distinctly better
crop advices from the west. The rains il
the Dakotas and Minnesota are expected L
give basis for more confident and i'm
proved spring wheat prospects. The in
dustrtals all showed a little Improvement
A further advance of 10 cents per 10
pounds in refined sugars did not ma terially
dilecl lHe price OF sugar STOCK IN the early
trading-the pool at work In that specially
letting the stock drift along at about yes
terday's highest level, with the expecta
ton, no doubt, of increasing the short In.
terest. Toward noon the market yielded g
little from the best prices OF the earlier
trading-but the undertone remained strons
ana buyers took advantage Of the little re
action to increase their holdings.
In the afternoon trading the bears were
little more active and tried to force a re-
dictionary movement in prices, but the
strength of the coalers and the support de-
veloped in the general list held prices very
steady considering the amount Of real
business done.
Some prominent railroad men just re-
turned from extended trips through the
west are declaring that the pesslmistic
views taken of the western railroad situa-
ton are greatly overdrawn and are by no
means warranted by the real facts
While admitting there has been seriou.
injury to crops in some sections of the west
they nevertheless assert that other sec
tions In that part of the country show sucl
phenomenally good crops that the damaR,
done in spots Is more than made good
These men look. also. for continued pros
perity, and say that prices all along the
line are being adjusted to suit changed con.
ditions: that the mad rush of overproduc.
ton has ceased, and that the railroads will
very soon be able to purchase new equip
ments, rolling stock, &c, at fair non-spec.
ulative prices. thereby considerably lessen.
Ing expenses incident thereto. This too
seems to be the case in other lines of bus
mess.
Another gratifying sign. not to be losi
sight of. Is the settlements going on in the
labor troubles which have disturbed bust.
ness in all sections of the country for some
time past. The big labor strike in Chicago
was settled short while ago and yester-
day the st. Louis street car strike running
along some fifty-six days, was settled. a
turn in the market for the better, II not al
ready here. seems close at hand, and in thi.
connection 1t may be well not to lose sigh
of the fact that midsummer reactions al.
ways bring investment and speculative
buying the outside public, as a rule pre-.
ferrfng to wait until prices have advanced
considerably before acquiring enough cour.
age to buy stocks. A majority of the lare.
est commission houses are looking for 3
further improvement in the market