Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-07-30
RUMORS ARE LESS ACTIVE
Haywood Verdict Expected to Have
Disturbing Effect.
ALSO SOUTHERN RATE TANGLE
Foreign Houses More Active Than
Yesterday-Helped by Rally
in Consols.

NEW YORK. July 3O.-The day in Wall
street was wanting In such features of in
terest as served to impart some animation
to yesterdays stock market even il the
greater activity at that. time was at the
expense Of values. AS is usually the case
In professional market, little further was
heard today of those several matters the
combined effect of which was to lead to
yesterdays rather pronounced weakness In
the stock market. Yet, in serious financial
circles 1t was recognized and asserted that
both the Haywood verdict and the legal
imbrogio in North Carolina will doubtless
nave far-reaching and disturbing results.
Today's market was free from the de-
pressing influence exercised yesterday by
the pronounced weakness of the London
market. Conditions We're, indeed, very
much unsettled there in the early part of
the day, but With the course of bust
ness a general. although not particularly
vigorous recovery took place under the in
nuence Of a slight rally in consos. Foreign
houses were more active in the local mar
ket than for some time past, but on both
sides OF the account, and the net results of
these transactions We're not important.
All the copper stocks were again notably
weak In the London market because of the
continued decline in copper metal! but in
the local dealings Amalgamated Copper
shared in the Very irregular movements of
the market at large. At the outset of the
trading a higher range of prices was quite
commonly established. but before the close
of the first hour of business a number of
the active issues showed declines from yes
terdays closing figures extending to one
point and over
As illustrating the irregular and illusory
tendencies of the market these declines
were for the most part recovered by mid
day.
Banks Lose C..h
The story of the market during the aft
ernoon was made up of similar backing
and filing and apparently insignificant
movements. Conditions In the foreign ex-
change market showed little alteration.
and it was the generai expectation that
Thursdays outgoing steamship would car
~ out consid erable amount of gold con-
signed to Paris.
There We're additional shipments of the
httal TO Canada today, and 1t is believed
nat the transfers to that quarter may
reach fairly large aggregate
The banks have lost thus far this week
N their operations with the sub-treasury
nearly s2,40O.OOO as against a gain of about
that amount at the corresponding period Of
last week, but the consequent outlook for
Saturdays bank statement was somewhat
modified by todays advance in the rates for
call loans above 3 per cent. Rates for
loans time also showed hardening ten
denotes.
Business was maintained upon about
the same scale of activity as of yester-
day. and the dealings were again largely
of a professional character and as here
tofore, concentrated in less than half a
dozen stocks. Union and Southern Pa
cific were the strongest features of the
market, but in spite of the irregular ten
denotes which prevailed generally the
. dealings showed little of the pressure
which was so persistently evident yes
terday.
The United States Steel shares were
rot particularly prominent in the trad
Ing, despite this afternoons meeting of
the directors, at which the corporations
statement of earnings for the quarter
ended June 80 will be made public and the
dividends declared on both classes of the
stock