Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-07-06
Big Days Business on New
York Exchange.
ACTIVITY DUE TO POLITICS
Surety of Bryan's Nomination and
Defeat Responsible.
BIG BUYING ORDERS SENT IN
Dealings in First Half Hour Exceed
Those of Fridays Entire Session.
London Market Stagnant.
ACTIVITY DUE TO POLITICS
BIG BUYING ORDERS SENT II
Special Dispatch TO The Star.

NEW YORK. July Ga large increase
in the volume of transactions upon the
stock exchange today was accompanied
by an extensive and quite general rise in
prices.
AS illustrating the betterment in condi-
tons in respect OF activity. it may be
noted that the dealings in the first half
hour of business alone were in excess OF
those on Fridays full session. In a gen.
eral way the increased animation dis
played was referred to the progress OF
political affairs.
1t is now commonly assumed that Mr..
Bryan will be nominated this week for
the presidency by the democratic conven-
ton a. Denver So far as Wall streets
views are concerned. his defeat at the
polls in November is deemed equally GER
tain.
1t could hardly be said there was any
great change in political conditions be-
tween Friday of last week and today.
Prospects then were identical with those
of this morning. Hence it was not alto
gether clear why speculative enthusiasm
should have developed so strongly on this
single aspect Of the general situation.
However that may be. the facts in the
case of the DAYS market were that large
buying orders were sent in to a number
of stocks. such as Reading. Union Pa
cifc. American Smelling and the United
states Steel shares. Naturally. in view of
the present characteristics of the dealings,
these purchases led to the pronounced re-
suits already mentioned.
No Important News.
Aside from the days returns Of earnings
there was no news at all relating to par
ticular stocks and. in fact, little or none
of general Importance.
Some encouragement was derived from
the fortnightly report OF the American
Railway Association. which showed a de-
crease In the number of unemployed cars
In the last two weeks of nearly $1,000.
Since April - the reduction in the number
of unemployed cars of all descriptions Is
now in excess of 100000, or nearly % per
cent.
The London stock market was generally
heavy in connection with the apparently
unexpected offering of Go.OOO,OoO Irish
land 25s per cent stock at S91a. COnSOlS
and other home investment issues were
heavy, as was the American department.
The small operations here for foreign
account showed, however, small excess
of purchases.
Whereas upon occasions last week the
strength of the grain market acted as a
depressing influence upon the stock mar
ket. little attention was today accorded
TO the further sharp rise in both wheat
and corn.
The leading features of the railway list
were Northern Pacific. Union Pacific
Reading and st. Paul. Baltimore and
Ohio was strong also, notwithstanding
the close approach of the dividend
declaration. together with the views
commonly held to the upshot
The industrial quarter showed long
list OF advances corresponding with those
appearing in the railway list, the only
noteworthy exception to the common tend
en:y being National Lead.
Rates for money for various periods of
accommodation remained upon the low
levels of last weeks average quotations
Steady on London Change.
LONDON, July 6.-The securities mar
ksts were steady at the curb closing.
The subscription lists for the new Irish
land stock had not closed, but were re-
ported covered ten times over and the
stock ruled at IL premium.
Consols shaded TO S7sa and discounts
were harder. Home rails closed dull.
American railway shares were firm and
advanced on the curb 4 to q. Foreign
stocks had tan unsteady appearance, but
Japanese bonds were firm.
Rio rihtos advanced "a at 6TI2. Russian
new IS were Is higher, at 955s Para
guayan bonds broke > per cent to ~ and
the railway securities declined u to 1 on
the revolution.
The continental bourses closed firm