Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-07-29
All News Tended to Depress the
~st Market.
GOLD SHIPMENTS RESUMED
Advices From London Showed
Weak Tone.
FOREIGN HOUSES WERE SELLERS
Scant Expectation Of Change in the
Rate of the U. s. Steel Divi- .
dend Tomorrow.
snecial Disnatch to The Star.

Special Dispatch to The Star.
NEW YORK, July 29.-The resumption
of gold exports on a small scale, but with
larger shipments threatened, rather dis
couraging advices with regard to crop pros
poets in the northwest, the unexpected de-
cison IN the Idaho conspiracy and murder
trial, and the temporary outcome of the
clash between the state and federal au-
thorities in North Carolina over the railway
fare bill were severally and collectively
cited accounting for the reactionary ten
denotes in this mornings stock market.
There was indeed, little or nothing in the
news Sunday to be named upon the
contrary or constructive side Of the &C.
count.
The resumption of gold shipments natur-
ally caused attention to revert to the out
look in the money market, although condi-
lions there today showed no substantial
alteration.
The progress of the Iortnightly settle
ment upon the London stock exchange was
accompanied by irregular tendencies at
that point. Consols We're notably weak,
were other home investment issues, while
tiie AMERICAN showed eACep-
tional strength, mainly because of the
lower contango rates quoted for those Sc
curties Foreign houses were sellers on
quite a liberal scale during the first hour
of business. but subsequent repurchases
pretty much Offset the initial liquidation.
The volume of business in the days market
averaged somewhat below last weeks mean
levels, and it would seem scarcely neces
sary to repeat that the dealings con-
tinued to show strong concentration of
interest upon five or six stocks. Except in
few Instances, however, there was little
or nothing in the way of novelty to be
ELECTED in connection with the special ami
nation in the cases in point.
Copper Was Heavy
The dividend on United States Steel COM
mon will be acted upon tomorrow after
noon, but as il is commonly assumed
that the rate will be left unchanged, the
stock moved In common with the remainder
of the market
Amalsamated Copper was heavy in con-
nection with statements with regard to
domestic trade conditions and in SYM
pathy with a decline in Copper stocks
in London, based upon the course of the
metal there
Consolidated Gas comparatively
steady on light transactions on the denial
by a supreme court justice of the appIica-
ticn OF the attorney general of the state
Lul Its corporate existence.
Some little amount of attention was at
tracted TO the sharp break in Newhouse
mining, which was partially recovered and
&c the pronounced weakness in the Nip
passing mines stock in the curb market
Brooklyn Rapid Transit and the other
traction shares showed declines CORE
spending with those displayed in the rail-
way list The losses lii the latter ex-
tended from fractional limits to between
One and two points.
Railroads Irregular.
In the early part of the day exceptional
strength was exhibited by Canadian Pa
hhc Southern Pacific Reading and Missouri.
Kansas & Kansas. but these later lost
ground along with the market at large.
The dividend on Southern Pacific will pre-
sumably be declared on Thursday at the
rate of 6 per cent annually, and If not on
tnat DAY then week two weeks later
All the elements of mystery being out of
the case, however, the course of the stock
Will rest more upon its merits than upon
the uncertainties of manipulative processes
The continuing weakness In New York
Central and the Erie shares might be named
along with the days other depressing cir
cumstances, particularly as those stocks
have participated only feebly in such i'm
provement as the general market has en-
5oyed from time to time.