Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-07-15
Heavy Profit Taking in Wall.
Street.
PRICES HELD WELL
AFTER NOON HOUR SOME STOCKS
SOLD OFF.
The Worst Sufferers Were Those Which
Were Recently the Most
Active.
Special Dispatch to The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK, July 15.-Todays stock
market had 20 stand the test OF consId
cradle profit-taking. and TO the surprise or
many. stocks were well taken on all COM
missions. The western element sold freely,
but commission houses had sufficient new
| business to take such sales without de-
stroying the firm undertoue Of the general
market
The break In the price Of corn may have
had something TO do with the selling Of GER
tain railway stocks, but the street incines
to the view that the Gates party has a
smaller interest in the corn pool than has
been indicated in recent gossip. However
this may be. the stocks in which this inter
eest has been most active were IN free sup
ply all day.
After strong opening prices shaded of
under selling by western houses. but COM
mission houses took stocks easily and kept
the market steady until noon. From that
time on the selling made an impression ON
prices. TO the extent of numerous per cent
declines.
Missouri Pacific. Union Pacific and St
Paul were sold steadily and became heavy
during the final hour of business Atchison
was probably well bought as anything
during the morning, but later reacted in
sympathy with the general list, although
sentiment is strongly favorable to higher
prices for this property. Chicago and Al
TON was SlrDnR during the morning under
mixed demand. which in some quarters
was relied upon to extend to considerable
proportions.
Southern Railway was mentioned as
growing in favor with a certain influential
clique, but little progress toward higher
prices was made. The l0w-priced Gould
shares were steady and indications point
to early activity in that group.
The coal shares were moderately firm
under trading for inside account The ma
tional convention called for Thursday is
expected to force crisis in the strike no
matter what action is taken.
Should there be a decision not to order a
general strike or the reverse, the operators
are likely to try and force the working
of their mines with whatever forces may
be available. This open attempt TO break
the strike should bring matters to an issue
and force some concessions from one side
or the other Pending the action of the
convention. however. little is to be eX-
pected In the coal group.
The Chicago strike situation is a dis
couraging influence, and the contest In the
grain market, because of the almost in
yar1ably disastrous results. deters conser-
Vative buying. The falling on In exports
and the Increase in imports I'm the face of
London selling. the crop uncertainty and
threatened gold movement cause hesitancy
In many quarters.
Good crops would probably solve all these
difficulties, and might lead to an inflow of
gold before the end of the year. There is
enough Of an encouraging nature ahead to
bought, but there is difference of opinion
as to the wisdom of Immediately borrowing
money to buy stocks at the present level.
Money ruled easy around ga per cent all
day, and was reported to be in fair supply.
The industrial stocks were erratic. a
sharp rally in Amalgamated Copper being
the chief feature in that department. y
fair-sized short interest helped this ad-
vance. The buying of Sugar was better
than the selling. and predictions of an old
time advance are made in well-fnformed
circles. The steel stocks were support ed.
and there were several attempts made to
arouse interest in the Industrial group.
While the market was irregular, during
the final dealings several sharp rallies
from the low prices were recorded Traders
considered the market good for series Of
short swings with the manipulation in
favor of higher prices