The times. [volume] (Washington [D.C.]) 1897-1901, 1900-07-17

NEW YORK. July 16.-The main influ-
ence in today's stock market was the
heavy rainfall reported throughout the
central Western States, which was assum-
ed to place the corn crop out Of the reach
Of serious danger from lack of moisture
This rainfall had most pronounced re-
Election in the grain market, corn declining
over cents a bushel. while wheat los,
over / point.
Owing chiefly to these circumstances the
stock market. after opening with an uncer-
tain tone. developed strength and with the
course of the morning substantial advances
were scored in the railway list.
That quarter Of the market virtually mo.
nopolized interest and there was little &C.
tivity elsewhere. The state of affairs in
China appeared to play no part whatever
in the local dealings and, while consols
declined rather sharply in London, their
course seemed TO be owing rather to the
hardening Of the money market there than
TO the developments.
Apart from the Chinese situation and the
advices regarding agricultural conditions
todays situation was barren OF develop
ments of Importance. Some interesting
statements OF railway traffic were sub
mitted, among them being the Baltimore
and Ohio report for the completed fiscal
year. The statement was truly reuarka-
bic showing and with the general expsca-
lions as to the action OF the managem5 nj
on the dividend, it caused a noteworthy
advance in the stock in the days dealings.
The money market continued extremely
easy, and sterling exchange advanced fur
ther. Stil the probable resumption OF
gold exports by the end of the week did
not appear TO play any part in the days
speculative calculations. The Treasury's
usual monthly statement OF the counry's
foreign trade was made public today. 1t
showed an excess of exports for June
amounting 10 Si1 as, 013 agaius; an excess
for the same month of last year Of s3i,-
e26.9ls. For the ended twelve moEths OF
the fiscal year there is shown tie note
worthy excess of exports OF 1914 Coz, 0Q0 as
against S529. 600 for the twelve months
OF 1899.
AS noted the bulk of the days TRANSACT
tons was furnished by the railway list,
and interest there was well distributed.
The granger stocks, after opening lower,
developed noteworthy strength and ac-
uvity, and elsewhere in the market there
were substantial advances in Union Pacific,
Illinois Central, Northern Pacific, Missouri
Pacific, and Reading first preferred. In
the instance OF Baltimore and Ohio, both
Union Pacific and Illinois were favorabiy
Affected b. expectations Of action on The
questions OF dividends.
Except for the advices bearing upon the
seen crop there was little that bore d.
rsctly upon the other movements in the
Anwsy list. Sugar Refining was the only
ecare feature Of the Industrial quarter,
md that stock responded rather feebly
y the announcement OF an additional ad
vance OF 10 points in the selling prices for
Isnned sugars. As has been the case in
each one Of the successive advances In
Psflned sugars ordered in the past few
weeks. all of the companies Joined in the
movement.
The only active feature OF the market
d which pronounced weakness appeared
vas Brooklyn Rapid Transit, in which in
stance the selling was probably In advance
q the publication OF the figures OF the
eompany's annual report. The remainder
u the local traction group was neglected
dad dealings In these stocks, as has been
he case for some time, seemed to Indicate
little confidence in the success OF the eff
fsrts making assaiiing the constitutional
hy OF the Ford franchise law