Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-06-25
BETTERING TENDENCIES
Foreign Markets More Cheerful, Nota-
bly, London.
HEAVY GOLD ENGAGEMENTS
Money Market Conditions Unchanged.
Loss in Bank nsactions-Read-
ing and Other Leaders Advanced.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, June 25.-Transactions in
tOday's stock market up to the noon hour
were very largely in excess Of yester-
days total dealings. and the market
tanned, in emphasized form, the lettering
tendencies which made their appearance
yesterday and notably in the last hour Of
business then. Practically all of the
worlds security market exhibited in fact
more cheerful tendencies today. notably
that in London. The fortnightly settle
ment upon the stock exchange at the lat
ter point progressed smoothly, only one
unimportant failure being announced.
Consols were decidedly strong on liberal
buying by the banks in advance Of the
Forthcoming publication Of their semi-an-
nual balance sheets. and buoyant market
was reported for other gilt-edged English
home investments.
The improving financial situation in
Egypt and the quieter political conditions
in the south of France impaired a firmer
tone to the Paris market. also which was
accompanied by repurchases of securities
for French account in the London mar
ket American stocks were dull. but
steady in the London market, and for the
first time in number of days operations
here for foreign account showed pre-
ponderance of purchases. the amount
taken being about $4,000 shares.
The Gold Engagements.
Aside from the lettering tendencies upon
the European stock exchanges there was
little to be cited in explanation of the i'm
provement of the local market. In addi-
tion to the $1.OOO,OOO gold engaged for ex-
port late yesterday afternoon. another en-
gagement of $10OO.O0O was announced this
morning. also destined for London. These
shipments bring the total on the present
export movement up to S24, 100000. 1t was
worthy of note that practically for the
first time since the beginning of the gold
shipments the foreign exchange market
showed today slightly reactionary tenden-
cies.
Money market circumstances were I'M
changed in any respect, although money
market brokers reported an increasing in
disposition on the part of borrowers to
accept the rates at which the banks are
willing to extend accommodation. This
mornings figures of the TRANSACTIONS be-
tween the banks and the subtreasury set
forth loss by the former since last Friday
of $63yI 900. a sum considerably in excess
of the surplus reserves reported last Sat-
urday.
From the course of the stock market 1t
was necessary to assume, however. that the
consequent outlook for this weeks bank
statement was either disregarded or count
ed as a matter of no importance. In the alb
sence of any more direct explanatfN- of the
greater strength of the activity in the stock
market, Wall street hit upon the rather
curious theory that a recently returned
Boston operator. whose speculative proclv-
tiles have not heretofore been expressed
upon the bull side of the market was an
active buyer of stocks
There was some crcumstantial evidence
that the individual in question was more
or less active in bullsh manipulations but
even II he were the extent of the markets
rise with no better reason than that would
only serve to indicate the extremely deli
cately balanced condition in which it has
been heretofore resting. Statements of
earnings and dividend announcements. the
latter including the regular rate upon Amer
lean Locomotive common, furnished the
only actual news relating to particular
stocks
Features of the Railway List.
Conspicuous features of the railway list
were Reading an the other anthracite coal
stocks Union. and Southern Pacific, Great
Northern preferred and Northern Pacific,
Atchison and New York Central. Advances
corresponding with those scored in the rail-
way list were recorded In Amalgamated
Copper. American Smelling, Colorado Fuel
and Iron. United States Steel shares and
Western Union, the latter showing more
animation tan for a long time past in
spite of the labor difficulties threatening
the company.
The local traction seeks were also firm
with revival of the InfIal summer gossip
with regard to the chances for the begin
ming of dividend payments on Brooklyn
anil Tran