Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-07-27
Dealers Encouraged to Attempt an
Advance in Their Specialties.
THE EFFECT ON THE RAILROAD STOCKS
Prospects Favor the Issue Of a
Good Bank Statement.
AS TO GOLD IMPORTS


Special Dispatch to The Evening Star.
NEW YORK. July 27--Advances in the
London market were dup icated on this
side during the early trading and encour-
aged new efforts on the part OF the several
pools to advance their specialties The buy
ing OF Brooklyn Rapid Transit was per-
sistent and gave rise TO numerous rumors
of pending changes in ownership. The ma
jority Of such reports Were not credited
but the room found no profit in resisting
the advance.
The steel stocks much discussed as
possible leaders in the next advance but
any movement in them is certain to be
limited to the professional clement There
Is a growing belief in the ultimate success
of the negotiations looking to some profit
able adjustment OF trade difficulties The
steel stocks. however, are not likely to find
their way back to favor with either the
public banks
The buying of Sugar was called good. and
the price advanced easily under a firm de-
mand from interests identified with the re-
cent advance.
The pool now buying the stock is said
to be an independent one. and not identified
with inside interests. In the same way
American Tobacco is moved about under a
manipulative demand, and is being made
much of by market leaders the result
OF current earnings. In the railroad list
the volume of business has fallen off ma
terially. and there is much difference Of
opinion as to the outcome OF the present
movement.
Atchison issues are given good support
and earnings are said to be keeping up in a
way to materially assist the speculative
element in advancing the price OF both
common and preferred. The common stock
is being bought by a conservative trading
element n he n dor Ia.
dividend being earned, no matter what the
policy of the board may be to its dis
position
Some attempt was made to revive inter-
est in Union Pacific. and fractional ad-
vance forced in the price Of that
stock. Should the expected per cent be
declared next month it is thought that at
least one more active market will be made
for the stock. The desire to trade in Bal
timore and Ohio is noticeable. but so much
confusion exists as TO its dividend policy
that the trading in both accounts is ex-
tremely narrow
The prospects favor a good bank state
ment tomorrow. the local banks having ap-
parently gained upwards Of S3ov0opo in
cash during the week. This gain in cash is
especially encouraging just at this time
when gold exports are becoming more and
more certainty. The more cheerful view
taken of the Chinese situation is beginning
to have Its effect on the market although
bankers refuse TO see any change in condi-
tons so far as the probable influence on the
international money markets are concerned
lime money is lending up to ) per cent
for six months and at IL per cent on call
In spite of the difference I'm rates the
shrewdest borrowers in the street are TAX
ing the time loans. The preparation is en-
couraging from stock market standpoint
since il carries accounts over the fan cleo
tons as well as through the perplexities OF
the near future growing out of the Chinese
uprising The elements of a big market are
lacking, and there is no indication that
they will soon be supplied