Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-07-18
The Stock Market Showed
Strength Again.
READINGS SOLD FREELY
MORE RUMoRs OF FIGHT WITH
GOULD.
Good Bank Statement Expected Tomor-
row-The Close Was
Quiet.
Special Dispatch to The Evening Star.

Special Dispatch 70 The Evening Star
NEW YORK. July is. - The increased
breadth of the market noted yesterday was
maintained today In spite of considerable
Irregularities due to profit-taking The
buying Of London was a feature OF the
early trading, a good demand for the coal
stocks being reported at that center Yes
terday's developments in indianapolis found
reflection In higher prices for the coal
stocks during the morning. but later in the
day this group became irregular under
mixed selling.
Readings were allowed to ease of I'M
der the influence OF rumors that the vot-
ing trustees might refuse to pay the next
dividend on the first preferred as an ef-
fective means for retaining control of the
property without absolute majority owner
ship There is room for legal doubt as TO
the effectiveness OF this desire. and il IS
hardly likely to be resorted to as part OF
the Morgan-Vanderbilt-C assatt campaign
against the Goulds. If there is to be "A
contest for control no sanction Will be
given TO a project which will cheaper the
stock in the market.
Chesapeake and Ohio was taken in rounf
amounts although evidences of realiziuN
were numerous. Norfolk and Western held
well and all the soft coal properties re-
hected the relief from the threat of a sym
and there was a good demand for New York
central Local fractions gained moderate
~ under inside buying and some attempt to
force movement In the gas stocks met
with moderate success
The low-priced western roads were again
irregular under mixed volume OF trading
out there were no evidences that the west
ern party had abandoned their campaign In
that Held. The higher priced Granger
shares did not advance naturally. St Paul,
Illinois Central and Missouri Pacific selling
PACK from temporary advances. The lat
ter stock is expected to advance suddenly
as ptrt OF the plan for reviving activity in
the Granger shares
The Industrial group was generally steady
at irregular charges. but the buying OF the
Steel shares was called good.
Commission houses were inclined to expect
some reaction as the result OF the weeks
active advance and so advised customers
AS result of this sentiment there was a
considerable shifting In accounts The I'm
dertone remained firm and the market
looked entirely healthy.
Crop news may be depended upon to loose
ITS onesidedness at any time. and a series
or reactions should follow The trend Of
the market is I'm the right direction how
ever, and that is more important than the
daily fluctuations.
Money was easy all day he call rate
dropping to "a per cent.
Tomorrows bank statement shouId show
gain In cash, and several leadings banks
predict favorable showing in the more
important items.
This prospect is decidedly encouraging
since 1t is generally recognized that heavy
demands will shortly be made for crop
moving.
The market slackened In speed very no.
tlceably during the first hour but was kent
firm by the buying in the specialties I'm
portant interests were large buyers OF
southern railway shares, the common par
ticularly, and rumors of a Significant ed-
vance were crcula ted
An intention to advance Kansas City
southern was reported, the preferred
SHARES moving easily under moderate deal
ings Rumors that a prominent Atchison
official will succeed to the presidency OF
this road helped the advance. Final prices
were Irregular. but the undertone was not
notieeaoiy weakened by the end Of the week
profit taking.