The Washington times. (Washington [D.C.]) 1901-1902, 1901-08-16
RAILS STILL THE FEATURE.
London's Higher Prices Aid in
Holding Up the Market.
A Credited Authority Estimates Corn
Crop at Large Figures - Exports
slightly Less Than for July. 1900
The Tone Firm But Limited.

NEW YORK. Aug. l5.-The stock mar
ket continued strong today and showed
a noteworthy diversihcauOn OF interest.
Throughout the week the granger Sh2reS
and the trans-continental stocks have viz
tualIy monopolized speculative interest
In tcday's market there were large trans
actions in the southern Railway issues
and Louisville and Nashville ana the an
thracite coal stocks. There was little or
nothing in the days actual DEVELOPMENTS
which could DC cited in connection with
the various movements IN the market.
Very little alteration appeared in the
steel strike situation. and in consequence
the dealings in United States Steel issues
were in compa rsitiYely small volume ana
resulted in very limited changes in price.
Some Cncourag cement was derived from
the publication Of an estimate upon the
corn crop Of IL credited authority IN
which "A yield Of l.i03 coo,ooo bushels was
forecast. London again furnished
higher range Of prices for American
stocks, and foreign houses were buyers
here to the extent of about 5000 shares.
No change was made in the Bank Of
EngIands minimum rate of discount, but
the banks weekly statement again made
a notably strong showing. Money market
conditions were not essentially altered.
and sterling exchange was somewhat
easy.
The Treasury's regular monthly state
mcnt of the country foreign trade
showed an excess of merchandise exports
for the month OF July Of S3d,l5i,Vp, as
against $50, l5ScE in the corresponding
week last year. The country imports
and exports of merchandise for July ailke
increased about SyVJt.gJ1 over last year
Attention now being directed toward the
question of exports OF gold to Europe, IL
is interesting to note that the Australian
steamship which arrived at san Francisco
yesterday brought Sl.i0o,VjJ gold, while
another ship sailed from Australia yes
terday with S2.5g1UJe.
Today's total dealings did not foot up
a very large aggregate and whlIe, as
noted. the general market had nrm ten
dency price movements were to no small
extent irregular. The professional ele-
ment was again disposed to combat the
improving tendency of prices, althoueh no
more definite arguments for reaction
were advanced than the fact that prices
have risen quite steadily since Monday
morning Such market theoriZing, OF
course. makes no account OF the extent
of the decline in prices since the early
part of July, when the agricultural sltua-
lion and later on the labor troubles be-
gan to engross attention.
While. as noted, speculative interest was
more diversified than for some days, ST
Paul again occupied the most prominent
position in the dealings. The stock was
again decidedly strong, but underWeht
rather wide fluctuations IL seemed 10 pe
still the common opinion that september
dividend will be advanced TO 319 per cent,
hut the extent of the rise in the STOCK IN
duced quite heavy profit realizing sales.
Advances were common among the So
called specislties. particularly strong Iea-
lures being General Electric, Consoli,
dated Gas. Tennessee Coal and Iron, ana
American Smelling