The Washington times. (Washington [D.C.]) 1901-1902, 1901-08-14
STOCK MARKET IMPROVES.
Many Circumstances Combine to
Better Prices Generally.
St. Paul and Union Pacific Again
Take the Lead i'm the Railway List
-Optimistic Views on the Agricul-
turaI Situation Held by the Street.

NEW YORK Aug. 13.-The further i'm
provement in prices in today's stock mar
ket was again plainly enough owing to
the spread of the conviction that the
strike of the Amalgamated Association
is on the verge of collapse. The days
developments seemed TO hinge almost eX-
clusively on the views in this regard, and
for the time being, at any rate. the agri-
cultural situation seems to have been
relegated to the background.
LONDON took a favorable view of the
local situation, and sent in not only ma
terially higher prices for American stocks
but fairly liberal buying orders. the total
purchases on that account amounting TO
over 10000 shares. A large number Of ad-
ditional returns of railway traffic for the
first week of the month We're submitted
and made uniformly gratifying showings.
There was otherwise an almost utter
absence of definite news bearing on par
ticular stocks in the railway list.
St Paul and Union Pacific returned to
the leading position they have recently
occupied and both stocks We're decidedly
strong. Conjecture regarding the rate of
dividend to be declared on st. Paul stock
month hence is now becoming active,
and it seems to be the common bent of
opinion that the stock is to be established
upon a per cent annual basis. Beyond
any question the condition of the property
and its earnings and prospects would
abundantly warrant such action on the
part of the management, but thus far
there have been no authoritive intima-
lions as to the course which will be pur-
sued.
The street has been treated to many
unofficial estimates of what the St Paul
common will show in the way of net earn
ings for the ended fiscal year and without
regard to the figures current it may be
assumed with safety that whatever the
official statement shows will be bettered
by the returns for the current fiscal year
on account of he'present splendid pros
poets for a bountiful spring wheat crop.
The particular strength appearing in I'm
ion Pacific and Southern Pacific could not
be directly accounted for by any new de-
velopHlents.
While as noted. the agricultural situa-
ton has been temporarily dismissed from
attention, there appears to be a quite
general feeling that the Governments re-
port erred somewhat on the side of con-
servatism and at all events II is still the
case that perfectly trustworthy reports
from the Central Western States reit-
crate previous assertions that the COM
munities most affected by the shortage
in the corn crop are by no means so deep
~ concerned over the matter as Wall
Street has been.
other notably firm features of the rail-
way list were Atchison, Pennsylvania,
Reading, and Erie. The bituminous coal
stocks were decidedly strong, particularly
for Norfolk and Western, Baltimore, and
Chesapeake and Ohio. Sugar Refining
continued to reflect pressure. but apart
from the reports regarding the health of
the president of the company there was
nothing to be cited in connection with
the course of the stock.
The local traction issues played only
a small part in the days dealings. The
so-called speciaities were generally firm,
notably for General Electric and Peoples
Gas. The money market continued eN-
trSmely easy and sterling exchange was
firmer but there was no suggestions that
there would be any immediate engage
ments of gold for export.
The preliminary report of the Bureau
of Statistics of the Treasury Department
for July. the first month of the current
fiscal year, showed an increase in the ex-
ports of domestic products over the cor
responding month of last year of over
SO 900. 90. The greater part of this Increase
was in breadstuffs, but noteworthy gains
also were furnished from the shipment of
cotton and provisions.
Since January l the increase in our ex-
ports of domestic products amounts to
over Si5 900 600. in comparison with last
year s figures. the only considerable fall
ing off appearing in mineral oils.