The Washington herald., 1909-07-18
WALL STREET NEWS
Market Gets Back to Typical
July Conditions.
INCREASE OVER LAST WEEK
senior Issue OF the Hartman Group
sells Wei Above It's Previous High
Price from Early Trading, Scoring
Net Gain of 5-s PointS-sOuthern
Pacific, Reading, and l. 4 n. Strong

New York. July I7.-To-day's stock
market bore little resemblance 10 that
Of a typical July Saturday.
There was a broad range 10 the trad
ing, a marked increase in activity in most
Of the standard stocks. and an aggre-
gate Of $1,000 shares, as compared with
lS7 900 on the previous Saturday.
As notable as the broad range and in
creased activity was the markets
strength. particularly in many OF the
railroad stocks which in the five pre-
vious days of the week had made gains
much smaller than had Steel and others
OF the industrials.
Yesterday the Steel shares sold off.
probably in a proht-taking movement
naturally resulting from the extent Of
the advance in previous days. and Union
Pacific was the stock most conspicuous
IN the trading.
Hartman Issues Strong
The senior issue Of the Hartman group
sold well above It's previous high price
from the early trading until the close
Of the market, and scored a net gain OF
S5s points.
Southern Pacific. Reading. Louisville
sS3 Nashville. and Atlantic Coast Line
8ere other strong shares IN the railroad
group, and the market. as a whole. was
one OF the most satisfactory Of the
month for those holding stocks for spec
ulative or investment purposes
For this decided Improvement in both
the breadth and tone of the trading the
only reason assigned was the cumulative
evidence, supplied in the weekly trade
reports. OF an Improvement in practically
all lines. and an Improvement surprising
the average expectation.
As supplementary, for example. 10 the
demonstration Of Dun and Bradsteet
that each succeeding week has become
a record OF advancing activity in indus
try and commerce Marshall Field & Co. s
week review reported orders from retail
ers unusually good for this season Of
the year. advancing prices and an indis-
position Of manufacturers 10 commit
themselves for goods not at hand. as
they expect advancing prices. The com
pilaSon Of bank clearings for the week
showed a total of s. 81. 600, 600, an increase
OF Is per cent over the corresponding
week Of the previous year, and Dun S
report Of commercial failures for the first
two weeks OF July showed a decrease OF
approximately 80 per cent in Liabilities
as compared with the corresponding Pc
Tiod Of 1905
Big Orders Announced.
These and other favorable presentations
by the trade papers were also strength
ened by such concrete reports as that the
Baltimore and Ohio was in the market
for more than s.. 10000 Of new equipment
and that the Boston and Maine had
placed orders for 21.000 tons Of steel rails.
Neither the return Of more Ihan S9,0o0,-
90 OF government deposits nor heavy
gold shipments to South America sufiiced
10 reduce, except by an inconsiderable
amount. the remarkably strong surplus
reserve shown by the clearinghouse
banks last week.
The surplus reported yesterday IN the
actual settlement remained close to S34.
0OoG0o and though more than half Of the
$4,000 gold engaged for shipment tC
the Argentine Republic remains TO be
forwarded to-day statement showed the
condition Of the banks stronger than il
had been represented in any Of the fore
casts.
In regard to the crops. as we'll. the con
sensus o. Wall street opinion at the close
Of business was that marked progress IN
both the cereals and cotton had beer
made in the course OF the week and that
the time was not far distant. current IA
vorable weather continuing, when the
present bright prospects might be re-
garded as assurance OF abundant yields.