Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-07-23
FINANCE AND TRADE
Realizing Sales Noted in the
Early Trading.
LONDON ON BULL SIDE
LATER THE POOLS FORCED UP
SOME sPEcIALTIEs.
Pennsylvania Very Strong in Spite Of
Setback Over New York
Tunnel.
,isnatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, July 23.-Realizing sales in
large volume were conspicuous I'm the early
trading this morning. and sentiment served
to favor a reaction. London's early gains
and subsequent buying In the market help
ed to counteract the selling but Irregular
ty was reflected throughout the entire day
The volume OF commission house business
decreased noticeably for a time. and among
| conservative houses there was a fair SELL
ing to take profits.
The several pools became aggressive
during the midday period, and numerous
substantial gains were made in prices. The
effect OF this activity was to hold the gen
eral market steady and cause some doubt
as to the wisdom OF further selling.
Fortunately for the market the stocks
selected for this demonstration of strength
were of the best, and revived waning pub.
lie interest st. Paul was advanced under
large trading. and was well taken at its
record price on this movement. The pre-
ferred stock was bought rather freely con-
sidering its high-grade investment char
acter. Illinois Central advanced over per
cent under a good demand not wholly for
pool account.
There is strong. conservative party in
this stock, which incines TO the belief that
In the recent upward movement many less
deserving properties had been made TO sell
at higher prices. The fact that the road is
strongly intrenched around Chicago makes
II worthy Of special consideration Just now.
Great Northern Preferred advanced ) per
cent under buying said TO have come from
inside sources.
The hitch in securing the tunnel fran
chise IN New York made little impression
upon the price of Pennsylvania the vote I'm
the council yesterday being considered but
a political device encouraged by certain in
terests friendly to the Gould side OF the
trunk-line controversy.
Union Pacific and the convertible bonds Of
that company were active at higher prices
under demand inspired by the pool. South
ern Pacific held well, but maintained its re-
cent record for slow movements, even with
the help of the strong pool which has been
its mainstay since last winter
The Gould shares were in good demand
particularly st. Louis and Southwestern
ana missouri Kansas and Texas issues
Earnings for this group are satisfactory
and the market outlook for the stocks IS
decidedly encouraging. The c6mpara lively
low prices Tor the shares named is an added
inducement to the demand.
Atchison was taken in round amounts by
the inside pool and responded well in spite
of large offerings There have been two
distinct factions in the common shares of
THIS company and the advances are helped
by short covering from time to time Col
orado Southern issues were strong and
stock accumulation was reported in Alton
The industrial list was irregular. but in
the main strong and higher. The Fuller
CONSTRUCTION Company shares were marked
up rather boldly at one time, but met con-
siderable stock. After reacting for a brief
period the advance was resumed and al
offerings were readily absorbed
Sugar was strong, but profit taking was
IN evidence at every advance during the
last hour. the market sold OF moderately
from the best and there was further evil
dence of selling by strong interests who
are not in sympathy with the continued
rise Reactions are desirable in every adj
vancing market and the lack of them tend
to confirm the suspicion Of artificiaIity.
which has kept the public out of the mar
ket for six months. To encourage an in
creased demand lower prices should precede
higher ones