Evening star., 1909-07-12
STOCKS TONE STRONG
Strength Fairly Well Maintain
ed During Session.
FOREIGN HOUSES BUYERS
American Shares Reported Firm in
London Today
RAILWAYS FURNISH FEATURES
Louisville & Nashville Led in Ad-
FOREIGN HOUSES BUYERS
RAILWAYS FURNISH FEATURES
Louisville & Nashville Led in Ad-
vances-U. S. Steel Active-Trac-
tions Showed Little Impetus.
S,o,iaI pisns,ch to Tho Star.

Special Dispatch TO The Star
NEW YORK, July 12-The strong tone
which was exhibited in the opening trans
actions i'm the stock market today, and
which was maintained fairly we'll during
the greater part of the business session
appeared to be due chiefly to better
connrel,ension OF the real significance OF
last weeks government crop report. and
also TO sentiments of satisfaction that
the work of tariff revision Is drawing to
close even If the legislation in question
embraces certain features which are pro-
tou,dIv disliked In conservative financial
circles.
1t goes without saying that the general
agricultural ouIturn is as yet by no
means determined. and II is possioie
that Congress will drag along with It's
deliberations upon the various phases y.
the tariff bill for some time to come ou.
at all events a much more cheerful tone
was evident in stock market quarters To-
day. -
The feelings in question may perhaps
have been stimplated by the particular
and well defined strength which was eSa eM,
course of which invariably carries
more or less sympathetic influence upon
the market at large. but at any rate the
general drift OF prices was along the
lines already noted.
London Firm.
American shares were firm in the Lon
con stock market, most issues being quot
ed considerably above parity with last
weeks local closing prices. Foreign
houses were buyers here to the extent OF
about $4,000 shares of stocks, and while
the amount was not actually large. the
purchases OF this description exercised
their ordinary sentimental influence.
The days developments of themselves
apart from the dealings upon the stock
exchange were not particularly Striking.
Money market circumstances showed lit
tie alteration-if anything they were a
shade flrmer. Little interest appeared to
be taken in additional engagements OF
gold for export to South America.
The grain market showed quite irregu-
lar fluctuations, Notwithstanding the
striking exhibit made in last weeks gov
ernment crop reports. 1t might be said In
fact or repeated that further considera-
tion OF the latter and the prospect Of a
comparatively early adjournment of Con-
gress were beyond much doubt the real
controlling influences in the general
course Of the market for securities.
Striking Movements.
Considered in detail, the most striking
movements in prices were the advances
noted at one time or another in Louis
willie and Nashville. Illinois Central
Reading, Union Pacific and the Wabash
shares.
During the greater part of the business
session the local traction issues, including
even Brooklyn Rapid Transit, failed to
show the impetus of the usual Monday
buying. With a few exceptions the in
dustrial and miscellaneous shares were
firm along with the railway list.
The u. s. Steel stocks were active and
strong as were American Locomotive.
Colorado Fuel and Iron and General
Electric.
Dealings in U. S. Steel shares doubtless
were stimulated by the near approach of
the publication of the statement of earn
ngs for the second quarter OF the year,
although little credence was attached to
rumors in circulation today that an ad-
vance in the rate developed on the COM
mon stock was likely at this period.