Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-07-21
Profit Taking Caused Some
Losses in Stocks.
BUYING ON DECLINES
THOSE ACTIVE LAST WEEK THE
SUFFERERS.
Heavy Selling of Reading and Chesa-
peake and ohio-Industries
Irregular.
Special Dispatch TO The Evening Star.

'peNiai bispttcn 10 Inc Evening Star.
NEW YORK, July 2l.-The course OF
prices in today's stock market reflected
considerable irregularity as the result OF
extensive realizing during the forenoon
London prices came lower for all the lead
Ing issues. and some mixed selling was
credited to that center Commission houses
had a fair volume of business. but wire
connections to the south were badly inter-
rupted. as the result of local storms yes
terday.
The selling during the first hour gave the
market reactionary appearance, but the
sales were well taken in almost every in
stance. The soft coal shares sold down
easily and looked heavy under the pressure
OF realizing sales. but, considering the ex-
tent OF last weeks advance, especially i'm
the case Of Chesapeake and Ohio. today's
setback was entirely natural. Pennsylva-
MIA and New York Central yielded moder-
ately. but later in the day were well
bought.
Reading sold off somewhat from its re-
cent best. and there was little effort made
10 force 1t up. The stories OF a contest for
the control Of this property as the result
OF the friction, unduly exaggerated I'm GER
tain quarters. between the Goulds and the
eastern trunk lines are not given much
thought In quarters familiar with the re-
cent accumulation Of these shares
The demand for the low-priced shares
particularly in the western group. was mod
erately good. Colorado Southern and Kan
terests Identified with railway development
in the west Chicago terminal was mod
erately active and rumor has II that a
prominent banking house has been receiv-
ing nearly all of these shares recently
bought.
There has long been a general recognition
OF the value OF this property because of its
terminal facilities in and near Chicago.
while any attempt Is being made to force
the western and southwestern roads into
the railroad territory around New York
eastern managers can well afford an invest
ment In a property which may be used to
keep the western roads in hot water nearer
their home field
The community OF ownership scheme in
wolves expenditures of a character not az
first disclosed. The constant holding OF
strategic positions demands the accumula-
ton of properties which have little intrin-
sic value but possess the capacity for trou-
blesome interference. 1t is reasonable to
expect, therefor. that many unknown prop
critics Will come into prominence during tho
year.
AS the recent activity was based upon the
favorable crop outlook IL was entirely logf-
cal to find today's new business going into
the stocks which first lead the advance but
which were neglected after the entire mar
ket had swung into line. Missouri Pacific
was advanced under a good buying, I'm
which the inside pool was active Atchison
moved up full point under buying from
sources closely associated with the man
agement
Good earnings and the hope Of an m
creased dividend on the common stock are
responsible for the new buying. Illinois
Central was stronger than at any time IN
several days. and a pool was credited with
the advance although there was a good in
quiry from commission houses.
Southern railway and the Alton issues
were neglected. although the Gates party
predict further period OF activity in them.
The Industrial list was steady and the
fractions were higher under a mixed de-
mand. Final dealings were Irregular under
further profit-taking and shifting of ac-
counts. Money was easy at 2iz to % per
cent.