Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-07-28
GAVE TONE TO MARKET
u. S. Stee! and Union Pacific
Strong Factors Today.
BUSY DAY FOR THE TICKER
Railways and Industria!s Con-
tribute to Strength.
FURTHER DIvERSIFICATION
BUSY DAY FOR THE TICKER
FURTHER DIvERSIFICATION
Equipment Orders From Railroads
and Crop Advices Helped Along
Optimism and Realizing Sales.
: p.c,si D:.?asch 20 Tae S.A"-

: ,ecisi D:~aasch 20 Tae S-A".
SEw YORK. July oS-Stocx market
Developments were the chief factors in
making stock market prices today. The
continued frrnn.ss of the United States
Steel common shares with, in We'll street
variance "tile good news out" ard the
successful achievement &C putting the
price Of Union Pacific across 900 were
Enthusiastically the stimulating influences
H. the carly dealings which gave a tone
20 the whoie market. Subsequently fur
ther confidence was impaired by the
marked strength of New York Central
Reading. Baltimore and Ohio and Stand
erd industrial issues, like American Tel
ngraph and Telephone and American
Sugar Refining.
There was generally speaking further
5iversification Of interest on an increas-
ing scale of activity in comparison with
Yesterday. which was in turn notable for
The improvement over Mondays market
IN both respects. Nevertheless the color
Of the stock exchange day was taken
more from the evidences and indications
Of the stock market itself than from
outside considerations or information.
lin other words. il was fine market for
The display of that particular kind of
scumen and sagacity on which the So
ticker told the story.
United States Steel Dividend.
or prime Importance in the matter of in
'orma ton. of course. was the showing of
he United States Steel Corporation. The
i;videni increase on the common shares
Vas. TO be sure. of much consequence to
The holders of this security, especially to
hose who have demonstrated their faith
IN the corporations future by holding
heir stock through thick and thin or by
acquiring il in darker days than these.
The statement of the corporations con-
dition is. however. OF far wider conse-
puence. extending not only to the imme-
Hate stockholders of the corporation and
10 the prospective stockholders as well.
but to all investors generally and to bust
ness men who are enabled to see by it
hat the dividend increase is warranted
by a material recovery of prosperity in
The all important steel industry at a rate
NJ progress full of the most hopeful
tugury. The stock market period was not
however. without fresher news features
eontirmatory of the tale told by the steel
corporations report of yesterday.
Confident Undertone.
Announcements were made of railroad
equipment orders amounting 10 a substan-
.ial aggregate. Crop advices were not
calculated to impair confidence. Western
money centers. while they reported a
stiffening tendency in interest rates, also
reported no great pressure for funds from
HE country districts, and at the same
lime the dispatches from these centers
told of a confident undertone in business
circles.
Amalgamated Copper was a conspicu-
aus exception to the general movement
Vt the days prices. While the rest of
he list not only withstood realizing sales.
eut. as in the case of Union Pacific, made
lew high prices for the year or new high
-ecords. -Amalgamated persistently de-
.lined.
The simultaneous strong upward move
nent of American Sugar Refining and
American Beet Sugar stimulated gossip
,ut brought out nothing trustworthy as
explanatory of the coincidence