Evening star., 1903-07-28
FINANCE AND TRADE
General Tendency in Stocks
Was Higher.
FEW UNDER PRESSURE
THE COALERS LED IN THE AD-
VANCE.
United States Steel and Amalgamated
Copper the Features Among
the Industrials.

NEW YORK, July 2s.-Although opening
prices of many stocks were higher than at
yesterdays close the stock market showed
hesitating tone in the early dealings.
Nevertheless there was more good buying
of the high priced railway shares. though
in moderate amounts. A few OF the high
grade industrials exhibited marked firm
ness. Sentiment was increasingly cheerful.
The absence OF any more failure announce
ments in the first half hour helped to create
a better feeling. Short covering was again
extensive. Prices yielded later partly
as a result of realizing.
Pressure developed against some OF the
standard stocks. Canadian Pacific declined
point Wabash, preferred. lost its open
Ing gain Large orders came In for South
ern Pacific, Reading, New York Central and
United States Steel, preferred, and the gen.
eral buying was heavy. Advances over
night reached to 2A IN Southern Pacific
Toledo. st. Louis and Western, Erie sec
ond preferred, Cleveland. Cincinnati. Chi
cago and st. Louis. Iowa Central. Metro
polttan Street Railway. Rubber Goods and
Car preferred. Brooklyn Union Gas gained
L. improvements of a point or more were
made by New York Central. Rock Island
preferred. Brooklyn Transit. Tennessee
Coal. United States Steel preferred, and
many others of less prominence. The mar
ket did not hold at the best, Rubber Goods
reacting Ia and Southern Pacific a point
The coalers became strong. including the
PENNSYLVANIA group. and rose from 1 to
IA. Erie second preferred made an ex-
ceptional gain OF 3a. and Reading second
of "a. Amalgamated and Smelling ad-
vanced over a point and there were be
lated advances in others of the iron and
steel specialties. Toledo. ST. Louis and
Western rose Az. the preferred and Kama
wha and Michigan 4. Pere Marquette 2I
United States Rubber 11s and Rubber Goods
preferred point. The Pacifcs and grang-
ers overcame their earlier depression, but
did not rise over a fraction above last
night. except Northwestern. Declines of
to were made by Evansville and Terre
Haute. Des Moines and Fort Dodge, North
American with recovery, Sloss- Sheffield
Steel. United States Rubber preferred and
Realty preferred Prices We're running off
at noon.
Some of the active bonds were very
strong, notably the Rock Island is
sues. but there were some wide declines in
inactive investment mortgages.
Early advances in the active division
were slightly reduced after MILDLY. follow
ing large sales of Southern Pacific. The
until the buying broke out afresh In the
specialtfes. Amalgamated and United
States Steel preferred led the rally and
sold at 43A and 73 respectively. Standard
or above, particularly New Lork Central
which tuched 122ss. Material gains crop
ped out in many of the minor stocks
Peoria and Eastern jumping 6 and Mime
apolis. st. Paul and Sault Ste. Marie pre-
ferred, Wheeling and Lake Erie first pre-
ferred. Pacific Coast, Colorado and South
ern first preferred, and Rubber, 2 to 3.
Selling orders were more abundant than
buying orders after 1 O'Clock and the mar
ket yielded substantially. Some OF the
western stocks reacted to about yester-
days close and Atchison sold a point be-
low. Declines from the best ran to about
a a ~ a Icl m q tod vi
ferred and Toledo, st. Louis and Western
preferred. Chicago Great Western pre-
ferred lost 1Ea; Evansville and Terre
Hause 32. and Cleveland and Pittsburg
6 points. Virginia-Caroina Chemical
showed a gain of Az; General Electric 3ls.
and Louisville, l.