Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-07-22
FINANCE AND TRADE
Stocks Were Irregular Under
Realizing Sales.
LONDON ON BEAR SIDE
GOOD BUYING OF ST. PAUL
SHARES.
New York Central Was Also Feature
of the Days
Market.
LONDON ON BEAR SIDE



NEW YORK, July 22-Early trading In
today's stock market reflected a further
tendency toward realizing sales and was
irregular and uncertain In consequence.
London sent over a range of prices showing
commissions varying from y to Il of per
cent, and later in the day sold some 10000
shares Of various stocks.
The engagement Of an additional million
gold for export was announced, but failed
to discourage buying In any marked degree.
The several pools stood aside and permitted
realizing sales for time in the belief that
the market would be the better for the
elimination of nervous holdings
The gold movement is not expected TO
run into large amounts nor to extend over
any considerable period. Crop damage
from floods in the west is now thought to
have been overestimated, and selling based
Oh crop damage decreased In volume. The
banks are losing money to the subtreasury
again. and the money market justifies care
full watching. Bankers expect active money
later on, but are not unanimous in predict
ing the effect on prices
Should the corn crop turn out well, little
concern Will be felt for the interest rate
and no evil will attach to the present out
flow of gold Realizing the necessity for
maintaining confidence in the crop outlook
the western element were free buyers of
the granger shares today. Rock Island was
marked up to 100 during the afternoon
virtually recovering the value of the
rights which came off the stock today
The value of the privilege to subscribe
to the new stock was quoted at Tx per
share at one time, making the stock sell at
the equivalent Of 2olk. The street un-
derstands that one price is as good as an
other for this stock now that 1t is cornered
and held for expansion purposes.
st. Paul was advanced under a fair de-
mand and Missouri Pacific gave evidence
OF strong inside buying. All OF the Gould
shares found ready market, and indica-
lions point toward continued activity in this
group.
The buying of New York Central was
feature OF the days trading. the stock ad-
Vancing easily under dealings considerably
above the average.
The Junior Vanderbilt shares showed
signs of new activity of speculative char
acter. The buying Of Union Pacific was
fair In character. with a noticeable increase
In the inquiry for the preferred. While
the latter shares have been dull and neg
lected, there is no doubt that they are rel
atiyely cheaper than the common stock
As the preferred shares may participate
In any land privileges that may accrue from
the refinancing Of the underlying proper
ties OF the Union Pacific system they should
enjoy revival Of active. semi-speculative
trading. The presence OF President Bauer
In town today gave rise to rumors of i'm
portant developments in the anthracite coal
situation. just what was contemplated did
not appear, but indications point to an early
attempt to resume mining.
The coal shares became active and higher
for time. under the leadership of Reading
The advance did not meet with the approval
Of certain large interests and an effort was
made to hold the price back slightly.
Amalgamated Copper was strong under a
mixed demand, based upon improving trade
conditions. Sugar advanced during the day
and the entire industrial list came in for
new buying. Traction shares were steady.
the buying of Manhattan being credited to
pool in which leading western traders
nave an interest Final prices We're irreg-
ular, but the widest changes were in the
direction Of Improvement