Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-06-29
Market Animated After Open
ing Depression.
ACTIVE STOCKS ADVANCE
Buying Represents Retirement of
Short Accounts.
AMERICANS HEAVY IN LONDON
United States Steel Holds Firm.
Amalgamated Copper Strong on
Eve Of Anaconda Dividend.
ACTIVE STOCKS ADVANCE
AMERICANS HEAVY IN LONDON
Special Dispatch to The Star.

Special Dispatch TO The Star.
NEW YORK, June 29-After opening
with an uncertain but generally sagging
tendency. the stock market toward the
close of the first hour OF business devel-
oped increased animation. BY midday all
the more active shares had recovered such
declines as were made at the outset and
showed net advances on the morning s
trading of one point and over.
For these various shifts in the course
of prices there was nothing whatever to
be advanced IT. explanation beyond tech
niCal considerations.
The dealings, however, revealed plainly
that the greater part of the selling in last
weeks closing dealings was for the shot
account. The more effective part OF to-
days buying represented quite plainly the
retirement Of short contracts then made.
However. for want of any more specific
explanations of the markets course the
professional element hit upon the theory
that in the probable event of Bryan's
nomination at Denver next week the sue
cess of the republican party would soon
be regarded as assured. and that the
stock market might be expected to act
accordingly.
Gold Exports to Germany.
The days situation otherwise included
continued low rates for money and the
resumption on q small scale OF gold ex-
ports to Germany. The latter develop
ment, while rather unexpected outside or
foreign exchange circles cut no figure at
all In the days dealings in securities.
The London stock market exhibited the
usual summer tendencies. although Amer
lean stocks were rather exceptionally
heavy there. Small accounts of various
stocks were disposed of in the local mar
ket for foreign account.
The days returns of railway traffic for
the month of May and other periods,
made public today, were of the same
general character as those which have
been recently submitted. There was, or
course, no degree Of surprise or disap-
pointment In consequence.
During the greater part OF the business
session the trading was conducted upon
a rather larger scale than during last
week, and quite a fair distribution OF
interest was apparent
Amalgamated Shows Strength.
The United States Steel shares were
decidedly firm. Amalgamated Copper was
strong. notwithstanding a further reduc-
ton in the quotations for copper metal.
The strength OF Amalgamated Copper was
commonly assumed to foreshadow the
declaration tomorrow of the regular quar-
terly dividend on Anaconda Mining.
Brooklyn Rapid Transit was also strong
and fairly active on optimistic conjectures
with regard to the forthcoming ruling on
the matter OF the fares to Coney Island
and other outlying points.
In the railway list the strongest features
we're st. Paul, Missouri Pacific, the Hill
stocks. Union Pacific and Reading.
Further recoveries were noted In the
Rock Island railroad 4 and per cent
bonds. St. Louis and San Francisco is-
sues were steady.
The London Market.
Special Cablegram to The Star.
LONDON, June 29.-The securities mar
kets finished with holiday appearance.
American railway shares, which closed
sluggish in the official session. rallied on
the curb on reports from New York and
covering. Union Pacific rallied TX. Next
can railway shares fell ~ to on the
insurrection news, but government is
sues were unaffected. Foreign stocks
left of idle. South African mining shares
had a good tone. De Beers were I'M
changed at 104. Rio Tintos showed loss
OF % and Russian imperial fours were
a quarter lower at 81. The Berlin bourse