Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-07-16
Prices Continue Firm Although
Somewhat Irregular.
|OPENED At LOWER RANGE
Early Weakness Due to Americans
Decline in London.
MISSOURI PACIFIC STRONG
Stocks Heavily Played.
New York Central Lively.
Crops Quiet.
OPENED At LOWER RANGE
MISSOURI PACIFIC STRONG
sfecial Dispatch 70 The Star.

Special Dispatch 70 The Star.
NEW YORK, July 16.-The stock mar
fet continued firm today. although in
somewhat irregular fashion, showing the
same frequent alterations OF superficial
tone noted yesterday. but all the time
preserving a firm undertone. As was
the case then, there was little except IN
the way of technicalities and genera!ities
to be adduced in connection With the
course OF prices.
At the opening OF business lower
range of prices was commonly estab-
lished, the tendency of the market AT
that time being a renewal Of that ex-
hibited in yesterdays closing dealings.
An additional influence In the early weak
ness was the decline in American stocks
in the London market. especially as the
quotations from that point were followed
/ up by sales for foreign account agsre-
eating upward Of 10000 shares.
Current operations for foreign account
are, however, OF such a highly profess
sional character that they possess no last
ing Significance. 1t is only that the " all
street habitues have become accustomed
to look first for the quotations for Ameri-
can shares in London that the matter
needs to be- mentioned at all.
The Bank of England's rate of discount
was left unchanged at "a per cent. al
though the bank reported a handsome In
crease in It's ratio of reserves to liabilities
from last weeks figures. The local money
market remained unaffected by the re-
turn of the government deposist, but IN
connection theTewith and also because OF
yesterdays gold engagement, this morn
ing's figures set forth a gain by the sub
treasury from the banks yesterday of
nearly 81 100000. The net results Of the
transactions between the subtreasury and
the banks since last Friday show a gain
to the first named of 81 ,29S.OO.
An unusually large number Of individual
stocks were dealt In with the course OF
the business session, although during the
greater part of the day activity was on
a smaller scale than yesterday. Most Of
the more extensive movements In prices
took place In the miscellaneous and in
dustrial stocks. Strong features there
were Central Leather, Consolidated Gas.
American Smelling. Sugar Refining,
American Tobacco preferred. Wrestling
house Electric and United States Steel
common.
In the railway list Missouri Pacific was
exceptionally strong. as was New York
Central. Most Of the usually active rail-
way shares nuctuated irreguiarly follow
ing the drift of the manipulation and the
features of the larger traders of the
board room. There was nothing very
impressive in the days advices respecting
the progress Of the crops and the COM
modify markets moved irregularly.
Political conditions. except In very
general sense, appeared to play only q
small part In the days dealings and the
discussion with regard to the mooted In
crease In railway freight rates again re-
vealed . wide divergence of opinion a.
to the feasibility OF the project.