Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-07-01
Some Advances at Outset, But
Reaction Followed.
BIG DROP FOR FEW STOCKS
Charged to Continued High Rates for
Call Money.
QUITE FURRY IN GRAIN MART
pasDoosa 20 Conditions Prevailing In
BIG DROP FOR FEW STOCKS
aUIIE FURRY IN GRAIN MART
Response to Conditions Prevailing In
Europe, Notably in Paris-London
Generally STANDARDIZATION.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, July IA very consider
able proportion of the maximum advances
which We're scored In today's stock market
were made right at the outset of the trad
ing. Subsequently number of stocks
moved up farther, while others reacted.
falling even below their final quotations of
Saturday. These contrary movements i'm
parted an irregular appearance to the days
dealings entirety.
The irregular and small dictionary tend
encies which developed with the course of
the day might be specifically accounted
for through the continued high rates which
were exacted from loans on call, and by a
very rapid advance in the grain market.
The tension in the money market was
abundantly explained through todays ire
mendous disbursements for interest and
dividend payments. and it is usually the
case that in a close money market week
or ten days must elapSe before conditions
are restored to the normal.
This mornings figures of the transactions
between the banks and the subtreasury
showed a gain by the former of more than
= $750OOO since Friday. balance which
stands out in strong contrast with the loss
OF several million dollars reported on this
day of last week. Sterling exchange con-
ditions showed little alteration.
GAu1y IL thC vi cAA 4AoA NSs'
The furry in the grain market was In
great measure in response to the conditions
prevailing in the European grain market.
and notably in that at Paris. At all events
there was little or nothing In the day s
weather and crop advlces to warrant the
rise III grain options, although naturally
there will be a good deal of uneasiness
with regard to agricultural conditions up
to the publication of the government crop
report on Wednesday of next week
The most pessimistic predictions were Tor
some reason In circulation Today with re-
gard to the showing which the document In
question will make
including the returns of the Reading and
the Pennsylvania companies. We're published
this morning. and these. with the days
dividend announcements. furnished the only
actual news there was relating to individual
stocks.
Some Buying in London.
The London market was generally steady
with some buying for continental account
reported in the American department. For
eign houses were buyers here to the extent
Of about 5000 shares. As was the case
with the local market. the extent of the
advance In prices in London has proved SUI
ficlent to lead to quite heavy profit-realiz-
ing sales.
Together with the fiurries in the money
and grain markets, today's stock market
had to contend with quite heavy liquida-
ton. conducted by certain houses, whose
operations always carry with them a good
deal of impressiveness upon the sentiment
OF personal traders. Consequently. 1t might
be said that the market, as a whole, gave
a fairly good account of itself, considering
the still restricted character Of the specu-
lation. Up to the noon hour the dealings
were somewhat in excess of last week.
average daily transactions. but subsequently
there was some contraction in activity.
The bond market, on the other hand, was
rather more active than of late with fairly
large transactions in the Burlington and
Quincy joint per cents, and the move
ment there attracted some attention in con-
nectiOn with recent advices with respect to
the significance of the resembling of the
lease of Burlington railroad to the Bur-
lington Railway Company.