Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-07-12
Stocks Generally Strong De-
spite Profit Taking.
BUYING OF CHANGERS
ON REPORTS OF GOOD CROPS AND
EARNINGS.
Bank Statement Was a Surprise-Not
Considered as Wholly
Reliable,


Special Dispatch 20 The Evening Star
NEW YORK. July 1.-THE course II
prices In today's stock market reflected the
irregularity which has been a leading fea-
ture of the weeks trading but activity was
invariably in the direction of improvement.
Under cover OF the strength there was the
usual amount OF profit taking In a few in
stances some good buying was recorded as
the result OF good earnings and the con-
tinued favorable crop outlook
The demand FOR the Atchison shares was
OF this character. the common stock re-
spending easily to the buying Missouri
Pacific was taken in round amounts at top
prices, and rumors OF all sorts were ia cir
cuia,ion as TO the real incentive TO the buy
ing.
Inside interests were credited with large
purchases. because the brokers employed
nave usually acted for the Goulds Rec SOIL
ing from such a basis is scarcely conclusive
in a market N which friction between rlN al
arrangements is Increasing from week to
week. Since the governments interference
IL the Northern Securities case aad the en-
trance OF the Wabash into Pi,tsburg the
community of interest plan has been lack
ing in harmony
Present indications are entirely favorable
10 the outcropping OF natural. human ieal-
ousies along lines and with ultimate results
made familiar by the episodes preceding
the community plan. That the Gould roads
VIII be prominent in such episodes seems
assured.
Rock Island sold up 10 1872 on purchases
for the new interests, but failed to hold its
extreme advance.
Predictions that the price will cross .o1
are numerous, but there is no public inter
est helping the movement st. Paul rallied
at the close, and there was good demand
for Illinois Central, but the gain I'm the lat
ter was only fractional. The lower-priced
shares were irregular and inclined to yield
to profit-taking. There was nothing new
in the coal shares, although there is some
disposition to consider that the brunt OF
the strike in the anthracite district has
already been met and that future changes
will be for the better
Events Of Importance not connected with
the strike are predicted to follow Mr. Nor
CAMS return from Europe, probably early
next month.
The bank statement was a surprise In all
It's leading features, a circumstance which
confirms the view that such exhibits are
rot reliable index to the real money
changes. The known movements OF money
Indicated that the banks had lost to all
sources during the week about 50 ooo0o0.
In some quarters Sooo.0o0 was the
amount reported. The statement today
gives the decrease in lawful money 81 80
100, all in specie. The loans decreased 81
10I 900, and the two changes noted call for
decrease of about $6O00,Oo0 I'm deposits
Instead of this, however, the actual de-
crease In deposits is given as SIG 4Ia. 500.
The reserve has increased s., 142, l15 or TO
a total of Sl2,226, 900.
The increase i'm deposits may have been
due TO the new financial operations of the
City Bank. Sums heretofore carried as de-
pSsits In other banks have probably been
charged to capital in the bank nsmed. In
this case the change is largely a matter OF
bookkeeping.
The course of the money market during
the coming week will again be subject Of
some concern since exchange at Paris again
suggests god shipments from this side
The usual effort to delay the shipments will
undoubtedly be made. Should crop news
continue favorable the loss of gold ana in
creased activity in money would cause lit
tie disturbance.
The corner In the grain market is an evil
from the standpoint of the stock market
some form OF disturbance being reasonably
certain to be the outcome of the operation
Railroad prosperity continues. however. and
holders Of good securities show no signs of
selling