The times. [volume] (Washington [D.C.]) 1897-1901, 1900-07-18
UPWARD turn IN STOCKS
Several Influences Combine in Pro-
ducing Activity
Railway List the Feature of the
.,iariset-Crop Reports Forecast IA
Heay: Business for Western
Roads-Diyidend Expectations Also
Lend ENCOURAGEMENT TO Trading.

NEW YORK. July 17-Several influences
combined in creating today's strong mar
ket for securities Chief among them.
probably, was the absence of any confirma-
ton Of yesterday afternoons apprehen-
sions that an extra session of Congress
would be called to consider the conditions
in China. Another influence was the re-
newed reactionary tendency in the grain
markets, which was assumed to indicate
that the corn crop particularly was out oil
reach OF immediate danger by reason OF
the recent copious downfall OF rain.
With the course of the morning also. tn,
advices from China were much more en-
couraging telling as they did of the sue
cessful occupation Of Tientsin by the al
lied forces. this news supplanting yester-
days intelligence regarding the reverse OF
the allies. On these several accounts. at
all events. the market after opening some
what irregular. developed hrnress and in
creasing activity. Speculative interest
was again chiefly centred in the railway
list. and it was in this quarter of the
market that animation was most pro-
nounced.
The dealings in tie stocks influenced by
dividend expectations, and notably in Union
Pacific. Baltimore and Ohio. and Illinois
Central, continued of the same character
that has marked them for some days The
granger stocks all scored material advances
and the character of the trading in that
quarter disclosed the existence OF very
considerable short account Elsewhere in
the railway list noteworthy strength was
shown in Missouri Pacific Southern Pa
cific. and Louisville and Nashville. The
London market had an irregular tendency,
but foreign houses continued to buy here
although in smaller volume than yester-
day.
Outside Of the railway list the deal
ings were heaviest in Peoples Gas. Sugar
Refining, and Brooklyn Rapid Transit.
The last named was quite sharply de-
pressed in the early dealings but sub
sequently advanced with particular ra-
nidity. Little that was new or definite
ATTENDED the varying fluctuations in the
Stock. The strength OF Sugar Refining
was probably owing TO considerations of
profits OF the company, owing 10 trade con-
ditions. with the palpabIe evidences of the
thorough concord existing aEcng the re-
fners.
The industrial quarter was not. how
ever. at all active outside of Sugar Rein
ing. Brooklyn Rapid Transit again rir-
tually monopoliZed speculative interest in
the local traction group.
The mcaey market showed no changes
in any Of is aspects. Foreign exchange
continues strong with the general esd-
mates pointing to TIE export OF about
sS,coc,eco in geld in the current week. The
probabilities in this respect were unin-
portant fs.so-s in the dealings in the
stock market. The market continued ac
tive with ttc coU- sc of the Gay and il The
later GeG!..-ss fresh features of strength
Wa sC,c.- 3ed.
Consolids.e, Gas advanced very sharply.
aad ,ae .ocai traction group developed
greater furnaces apparently in sympathy
with the rise in Brooklyn Rapid Transit
I ne buying in these cases seemed to be
10 so1-o extent induced by Tho idea that
the Ford franchise law n!ig1t be invaii-
da.ei an the pending proceedings against
it.
re dealings in the bond market were
rather more active Than TO- some time.
ana sIbs,altial advances were scored in
some instances. Government bonds were
active and il good demand.