Evening star., 1902-07-30
FINANCE AND TRADE
Irregularity characterized
the Stock Market Today.
GOULD STOCKS STRONG
COAL SHARES FIRM UNDER
MODERATE DEMAND.
Sharp Advance of Seven Points in Air
Brake-General Market
Reports.
GOULD STOCKS STRONG
Special DISPATCH to The Evening Star.

Special DISPATCH to The Evening Star.
NEW YORK. July 3O.-EarIy trading this
morning was again moderately reactionary
as the result of unfavorable crop returns
and further engagements OF gold for ex-
port. The selling was scattered, however
and had little effect on sentiment after the
first hour. The leading interests in the
market turned buyers later in the day, and
the room was easily forced into a cover
ing Of early sales. Crop damage was said
to have been Overestimated, and some Of
the gold ordered for shipment earlier In the
day was Cancelled later, reducing the total
to 81. 100000
AS this amount was about one-fifth OF
the total predicted at the close of yester-
days business. they felt less inclined to sell
the active issues in the hope of forcing
liquidation.
Leading western operators were said to
have secured all the money needed in their
campaign, time accommodations and
were thought to be less concerned than at
first supposed with the course OF the call
money market. While the pessimism OF
the last few days was less evident as the
result of these changes there was little new
business in evidence.
the market is in the hands of pools and
public interest shows no sign OF an imms-
date revival Professional sentiment is
slightly more hopeful merely because the
street believes II overestimated the evils of
the situation. That there are reasons
against sustained Improvement is not de-
rled and rallies for time are likely to
meet increased supplies of long stock.
chicago and Eastern Illinois, which has
been advancing steadily under limited deal
ings for several months, was today re-
ported to have been leased to st. Louis and
San Francisco on per cent guarantee
Tor ninety-nine years. Rumors of a stock
nd Dl-a - ~.
The Rock Island announcement is expected
tomorrow. and some demonstration may
follow, although there are good reasons
for believing that the official plan will not
diner materially from the published re-
ports.
The Increased capitalization and the mass
of new securities are certain to appear in
the official plan and cannot claim public op-
proval.
The pool in Missouri Pacific added frac-
tion to the best level yet reached, and SEEM
ed to get outside stock .pn the rise The
Gould shares generally, including Western
Pacific, St Paul and the Atchison issues
were strong and weak by turns, while there
was splendid support in Illinois Central
throughout the day.
New York Central and PENNSYLVANIA were
irregular under mixed dealings by traders.
Some buying of the low-priced shares ap-
peared from time to time, but few changes
beyond fractional limits were recorded The
coal stocks were steady to strong under
small trading The soft coal group reflect
ed realizing on a moderate scale. The Trac-
ton group was said to show some inside
demand. and the new Metropolitan Securi-
ties stock was taken by commission houses
closely Identified with the management
In the industrial department Air Brake
made sharp advance of points under q
fair volume Of business The Steel shares
were irregular, especially Colorado Fuel,
under dealings not regarded as significant.
The market continued to be Irregular
throughout the last hour under mixed deal
ings. in which a fair volume of short COW
ering appeared. The high-priced shares re-
hected an improved demand, and there was
less stock pressing for sale.
Money was in fair supply, and the opinion
seemed to be that a few stocks would be
brought to the front as leaders and that no
general advance would be undertaken at
this time. The market appeared to be con-
fused, however, and highly artificial in
character.