The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1909-07-31

New York. July 3O.-In the FIRST hour
OF business to-day transactions 10 stocks
were In greater volume than on the en-
tire FIRST day OF the week.
The market broadened alsI transactions
embracing practically all the standard
, investment stocks AMI mos. OF the Epe-
olaltes. ordinarily inactive shares, as
well as those Of keen speculative interest
Without important exception stocks
were stropg in this early trading. and
both the strength ana activity continued
without material abatement until the
end. with the result that the market was
more active than any OF its predecessors
for more than six weeks. that interest
In Il was more widely distributed than
On any previous day of the month, and
that the gains were more general and
based on keener outside interest
5 Tariff Report Effective.
For this recovery from the condition
prevailing early in tho week the inspire
ton was no doubt tho report Of the tariff
bin by the conference committee. Al
though the recent dissensions over the
measure have been over matters with lit
tie direct relation to security values, Il
was nevertheless realized that cautious
investors and spectators had refrained
from purchases Of securities pending an
agreement upon the bill just as through
OUt the country business men without
number have withheld purchases Of goods
for the same reason.
Seemingly 1t was not he schedules
ugefrr hrrf b. Ia1 la
on their adjustment that brought the
greatest relief and the relief seemed 10
be felt in every important center. AT
any rate purcl-Sss ia g--dtly iIcreased
amount came from every important CEN
ter IN this country and abroad
London which has dealt sparingly IN
American stocks Of late, bought 25.O OC
shares on balance. and all the commits
sion houses in this city did a much more
active business than on previous days OF
the month.
Apart from the conference committee
report upon the tariff. arguments for the
purchase OF securities were found In ex-
ceilent crop reports, under which there
wac a further decline In the wheat, corn,
and oats options and IN statements Tor
June and twelve months Of two impor-
tant railroads.
AAcnlAOm SHOWS UuIuls
The AtchisOn report for June showed
an increase OF &,772,0o0 in gross and
$1.21S.O0O in net. while for the fiscal year
it showed gross earnings Of S94.966.OOO. a
sum but $4,000 less than the gross earn
ings In the banner year OF 1907. and net
earnings for the year OF 100000 greater
chan in 1908, and S6S5,OOO greater than IN
1907.
Chesapeake and Ohio reported substan-
tial gains in both gross and net earnings
fer June. and both the gross and net
earnings for the year were the highest
in the company's history.
Since a portion OF the past fiscal year
(, was year OF duh business. the state
ments OF both these roads were naturally
construed as predicting unparalleled
railroad prosperity for the fiscal year
that began with the current month.
The foreign markets to-day reflected
little. II any, alarm over developments ir
Spain. and this matter was not considered
Of Importance by international bankers
as far as security markets are con
cerned. Compilations OF money move
ments for the week agreed In reporting
a substantial gain to the banks In thi.
city from the interior. Notwithstanding
that several Of the banks have made
heavy remittances to Chicago and other
interior cities 70 assist in the movement
OF winter wheat.