Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-07-17
Market Today Showed a Very
Steady Tone.
BUSINESS FAIRLY GOOD
CONSIDERING SEASON AND ABB
SENCE OF UNUSUAL CONDITIONS.
Operations on Foreign Account Result
ed in Purchase Of About IS 900
Shares-Grsin Prices.
BUSINESS FAIRLY GOOI

NEW YORK, July 17.-Todays stock
market showed a very steady tone on a
volume of business which measured fairly
UP 20 what might have been expected of a
midsummer stock exchange session unn-
huenced hy any novel developments of
weight. In fact had 1t not been for the
Incentive furnished by the advances which
American stocks showed In the London
market. there would have been nothing at
all to engage attention upon the opening of
business
The LONDON stock market was very firm
In all OF It's departments today, being slim
ulated by quite substantial buying for con-
tiuental account and American stocks par
tcipated in the Improvement there. showing
advances above parity with New York s
closing figures Of Saturday ranging from
Is 10 2. point.
Toward the close of the business session
In London prices were moderately shaded
on the circulation of rumors that some
hitch had occurred in the course of the
peace negotiations not yet formally opened
between Russia and Japan. The opera
lions here for foreign account resulted on
balance in the purchase of about 25.VO
shares. Although the associated banks have
had debit balances at the clearing house
settlement for two successive days on &C
count of their return of government moneys
To the SubtreaSury. money on call was Of
fered In large amounts today at pa per
arranged for at and "a per cent.
The Grain Market.
Sterling exchange continued heavy In
the grain market wheat and oats declined
sharply and corn weakened after an early
advance. To some small extent the course
of the grain market as affirming the ac-
curacy of the government crop report of
last week, was referred to IN connection
with the strength of securities.
Cotton but fluctuations
In that staple are accounted of less sig
nlncance owing to the tremendous specu-
lation in progress in that market. Apart
from such statements of earning were
reported today. there WAS no news at all
relating TO particular stocks. Views and
Conjectures with regard to Forthcoming div
idend declarations occupied the same lead
ing position in interest that the case
last week
II is expected that the dividends on
Union Pacific common and on Amalga-
mated Copper will be declared on Thurs
day. and hopeful anticipations are en-
tertained that there will be advances or
cered in the rates on both stocks.
The Leading Features.
The stocks mentioned were leading fea-
lures in respect of activity in their sew
eral quarters of the market. but showed
no more extensive movements than were
rOted in numbers of other instances.
Strong features of the railway list were
the Erie shares, New York Central, Chi
cage and Northwestern and New York.
Ontario and Western. The somewhat pes
simistic comment upon matters in gem
eral, which was credited this morning to
the leading personality in the Northwest
ern railway situation, put something of a
quietus upon the securities concerned.
particularly because OF his quoted state
ment to the prospects for extra divi-
dend payments on Northern Pacific and
Great Northern.
\ fair amount OF business was trans
acted in the local traction shares, which. IN
common with the remainder of the mar
ket. were decidedly strong in the first hour
of business, sharing in the later general
greater irregularity of movement. The in
dustrial and miscellaneous shares were
more active than they have been for some
time past, and the dealings there showed a
generally firm tone.
The gossip relating to this quarter cf the
market was Of the same general chara cter
as that heard elsewhere and had nosCIy to
do with the scarcity of stocks Offering for
sale. Thus. on comparatively small trans
actions, advances ranging from / to 2
points We're scored in Tennessee Coal and
Iron, United States Cast Iron Pipe and the
United States Rubber stocks.