The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1900-07-17
Good Advances We're Established in Lon
don for Union Pacific
AND FOR BALTIMORE AND OHIO STOCK
Movement in Union Pacific was the
Main Spring In the New York
Market All Day.
Especial to The Post)


cans weak in London early. but rallied later,
with Union Pacific leading consols the low
est in ten years. Continental bourses de-
pressed by Chinese news. Good buying oil
Missouri Pacific on dividend talk Russell
sage is quoted as saying that from the pres.
ent prospects dividend is certainly not
far on Closer relations are predicted among
steel interests. Chicago reported a further
cut In pig IRON The output OF anthracite
coal dcrng the past six months is the
largest in the history of the trade. Many
expect tighter money In the near future.
Germany, Russia md Japan. it is said. viii
have to float new loans for the Chinese war,
the extent OF which can not even be app
ptoximately guessed. Baltimore aud Ohio re
celved pool support Sugar was strong on
q further rise OF ~ points in refined prices
Lower Wall street bought; Boston was q
persistent seller a second semi-annual divi-
dend is expected on Baltimore and Ohio
common August ). Baltimore aud Ohio was
oppressed by long liquldations. Foreign eX-
change tending upward and some expect ship
ments of three or four millions in gold by
Thursdays French steamer. Continue to buy
on the reactions.
New York. July 16.--The depression of for
eign stock exchanges by the sinister reports
from China had no effect on the local market
and, indeed, did not hurt the American securi-
tics Good advances were established in Lon
don for Union Pacific and for Baltimore and
Ohio before the opening here and interna-
tional houses bought freely in this market
of those and other stocks The total pur-
caases for London account in this market
were estimated at 10000 shares. The move
ment in Union Pacific waSz=sAn handspring
of this market all day. dnd Baltimore and
ONO was also an active feature. The move
meIk in these stocks was primarily based
on the estimates Tor the years earnings now
mace up. statement Of Union Pacific earn
inss having the appearance OF authority
states that net results for the year, exclusive
OF land sales, Gmount to over $50 Oog' O00 WHEN
"ould Indicate balance OF something like
per cent for the common stock This state
ment ana the fact that inside interests we're
great buyers OF the stock, gave color to the
reports that 1T is to be placed on :, 4 per
cent basis. The Baltimore and Ohio systeni
has yielded for the year net earnings OF Sll--
o1o,ao4' from winch IS TO be deducted fixed
Ghalges OF nearly $4,000, goo and preferred stock
dividend of 100000. The fact that net earn
lngs Ior this system have been increased over
y Per cert for the year is due to heavy out
Idys made by the receivers in the closing
period oil their administration aud charged
10 the operating expenses last year This
statement, coupled with the fact of the recent
teIu' from burops OF several OF the direo-
loIs, Was the occasion for rumors that a
dividend was to be declared on the stocK
ne STOCK readily responded to the rumors
dnu rose at one time 3% points Another
potent influence was the copious downfall of
iHlh 10 the corn belt. The amount of snecu
latlon which has been based on stinnossd
eamage TO the corn crop was made Obvious
by the violent break in the price of thai
cereal and the rapid advance in the stocks
OF corn-carrylng railways. This affected I'm
ION Paclnc and that stock rose 90 other
cams ran from | TO l9i for corn grangars
pGl IInston being conspicuously active Roc,
island was set back by sympathy with The
Neakhess IN Brooklyn Transit. which was a
idFset Tor the bears all day and which lost
~ net. MISSOURI Pacific broke badly in the
!adte dealings on disappointment that no ac
non on the dividend was taken at meet
ing OF the directors held today The ey
rene decline was rs, and couplcd with the
" eaAhess IN Brooklyn Transit and the dis
PoSltion 10 take profits, reactions of ahoui a
Eyiht were caused in a number of stocks
> ne crossing was heavy at the reaction Ont
alde or the Srangers, the Pacific and trans
narrow. u"H anu
An early advance In Sugar was due to TN,
rise ~ the price of refined sugar. and tbe-s
va" some late strength In the steel stocks /
On reports of new orders being plared tor /
IRON products. The further advance In sterlin, |
e,@Cnange ana the admission by internationaI |
y, houses mat they expected to ship gold seemed |
= DC without effect, either on the stock mar !
ket or the money market "-"'
the bond market continued dull and nricas !
ssNvnesreSed both ways. Total sales, pnr yalue
y9S00Q0. D"t N"iue'