Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-06-28
FINANCE AND TRADE
Gould Groupof Stocks Showed
Strength
OVER RAINS IN TEXAS
ILLINOIS CENTRAL ADVANCED
OVER 2 PER CENT.
Chicago and Eastern Illinois Was Also
Another Feature of the
Market.
OVER RAINS IN TEXAS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. June 2S.-Business on the
stock exchange today was extremely quiet.
speculation presenting rather a holiday ap-
pearance. prices, however, were generally
higher. and the Gould issues again show
ed the most strength, as a group. Texas.
Pacific and Missouri Pacific both advanced
nearly l per cent, the former on the good
rains now prevailing in Texas, thereby
breaking the drought, which of late had
threatened to ruin the corn and cotton
crops in that section of the country
Illinois Central, on a renewal of the good
buying, noted in yesterdays market, adj
Vanced over per cent There were any
number of rumors in regard to the strength
in this stock but the friends of the road
attributed the movement to a revival of
activity upon the part of the pool which
stimulated the advance some few weeks
ago.
Chicago and Eastern Illinois was another
feature of strength in the early trading.
the price advancing over per cent. with
rumors from Boston that the company is
to declare stock dividend of $4.s47. 600 COM
mon and $3.50 600 preferred the road there
after to be leased at per cent on both
classes of stock.
Western and Canadian houses bought
L
issues, causing good gains This buying is
said to be in anticipation of meeting 10
be held next Monday, when a dividend on
the preferred stock will be declared
st. Paul. Atchison issues, Union Pacific
and Southern Pacific were not very active.
but they all held firm
In the industrial group Colorado Fuel and
Iron opened off ~ per cent. declined u
nights closing figures. Distillers of Amer
lea preferred gained 1 per cent on covering
to shorts; American Ice issues had mod
crate recoveries. while Western Union en-
Joyed a rally of Is per cent. In connection
with this stock it was rumored that the
company is about to bring suit against the
Pennsylvania railroad. claiming some per-
petual franchises on the lines of that COM
pany. Other Industrial stocks Were neglect
ed, with fractional concessions in the COP
per shares.
After the first hour of trading a little
weakness developed in the coaiers. Reading
the federal Attorney General will investi-
gate the legality of the anthracite coal
carrying roads combination.
Yesterday net share of Louisville and
Nashville changed hands, the quotation
standing all day at 1351aa13G-today there
was one sale of a hundred shares at l37
which only goes to show that the dullness
now prevailing is not at the expense of
values and that stocks are very generally
heid by people who are able to take care
of them.
The bank statement was somewhat dis
appointing to the average trader on ac-
count of the smailness of the gain shown
In the surplus reserve, resulting from an
unexpected increase in the loan and de-
post Items, but this had no appreciate
effect upon speculation, the market closing
dull but generally firm. One hundred and
forty thousand shares of stock were traded
in today and s1.3160O0 in bonds.
An analysis Of the bank statement shows
the banks have gained s2.eseo in lawful
money, while there has been some expan-
sion OF the loan item and a corresponding
increase in the deposits. resulting in in
crease in reserve of Ss20,o00. The expected
ughtness of money just previous to the
july L disbursements has not materfalize
to any serious extent and this. together
with the other conditions affecting values
seems to look fairly well for the immediate
future, providing no further untoward de-
petopments occur.