The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-08-02
yTSxNorxE XND 6CEElERCraE.
wspNsspAx. Aug. 1,

WnDNHDDAx, aug, u,
In spits, OF the unssttlVd feeling abroad
resulting from the disturbances In Rus
sia Tho market hero opened With an
all around advance and Notwithstanding
Q fair volume OF realizing retained It's
strength throughout the entire session.
Successive bursts OF strength occurred
during the day and while each was ayailed
OF for profit taking such reoessions as this
caused were speedily recovered. Even at
the close there was almost general strength,
although the volume Of profit taking In
tho last honr was large. Heading houses
reported q larger participation on the part
Of the public than on any other day for
several weeks past. while the number Of
inquiries received from out Of town indicated
the probability OF q further increase Of
public interest. The improvement In the
London curb market during the afternoon
was not without effect here, and while
Kafirs did not respond to the Governments
proposals in regard to the establishment
Of q new Parliament In the Rand 1t was
believed that this was more the effect Of
the appropriately Of the p9sent administra-
ton In London than OF questions Of value
bearing on tho stocks Of the mining CON-
panies. Conservative London does not
like the present Liberal ministry and the
Chinese labor question Is still the cause Of
much Ill feeling. London was a buyer Of
stock In our market, taking o considerable
amount Of United States Steel. The dec
laration Of q dividend on this stock and the
publication Of the surprisingly favorable
statement OF the corporations earnings for
the June 80 quarter did more to stimulate
interest In the market than all the other
news OF the day combined. Other important
aids to the advance In prices were the re-
port OF Southern Railways operations
for the year, showing a heavy gain In gross
earnings coupled with declaration Of the
regular dividend on the preferred stock,
the usual dividends on the Erie preferred
stocks and an extra dividend OF 8 per cent.
In addition to the regular quarterly distribu-
ton Of ~ per cent. on American Tobacco.
An increase Of u, 900 900 or thereabouti In the
amount Of Government funds deposited in
nationalbanks was not ignored in its bearing
OF the money situation. Rumors OF impor-
tant railroad deals REQUIRED, the most tan
BiOtC VI tiCoo udNiIiH TCtOICtlC0 W Duy lnH Vi
Chicago and Northwestern supposed to be
In the interest Of Union Pacific. A similar
report In regard to st. Paul did not receive
equal credence.
Several Of the larger railroad systems
published statements OF their earnings for
the month Of June, and in nearly all cases
the exhibits were very favorable. Atchison
showed gross earnings Of $e,447, ATS, IN in
crease Of $500 ,s75 over June last year, the
surplus after taxes n rentals being greater
by $500 ,95S. For the whole year the gain in
the latter item amounted to SO, 5e4 ,O55, and
1t was estimated that with liberal allowance
for increased interest charges the road
earned fully IL per cent. on its common
stock in the twelve months. Southern
Railway showed for the month an increase
Of s484 ,49s in gross; and SIT ,5si in net, the
relatively small gain In the latter item being
attributed to the inclusion in operating ex-
penses Of the cost Of improvements pending
sale Of a portion Of the bond issue recently
authorized for this and other purposes.
Rock Island, including the St. Louis and
San Francisco, gained S0se $50 in gross and
s457 72s in net earnings, as compared with
June, 1906. These exhibits following the
phenomenal earnings Of the Steel Corpora
ton afforded the strongest kind OF testi-
mony to the general prosperity OF the coun-
try. It was expected that the Pennsyl-
vania returns to be published tomorrow
would also make a good showing. At a
meeting Of Wabash B bondholders and rep
resentatives Of the Gould interests it was
agreed to call a special meeting Of stock
holders in the near future to confirm the
plan for retirement OF the debentures and
to Issue the new securities without any pro-
vision for underwriting in case the bankers
failed to complete arrangements within a
reasonable time. Time money was in
better supply than on any recent day,
although the rate for six months loans
held firmly at "a per cent. Quotations for
copper were marked up one-eighth Of a
cent q pound on the metal exchange, and
the strength Of the metal stimulated Anal
eamated and Anaconda stocks. Reports OF
excellent trade conditions and earnings at
the rate Of at least 10 per cent. on the COM
mon stock accompanied the buying Of
National Lead. Rumors Of an increase in
the Union Pacific dividend to 2 per cent.
found a good deal Of credence, and in con-
sentative quarters this stock was spoken Of
as relatively cheaper than Southern Pacific.
United States Rubber was in limited supply
and advanced easily on q few buying orders.
Reading, Brooklyn Rapid Transit and
SHELTERS were among the other strong and
active features, but advances Of a point or
upward were nearly general. The grain
and cotton markets were heavy on account
Of the good reports regarding condition Of
Tho 0rOvipO CrOna