Evening star., 1909-07-19
MARKET TONE STR0NG
Prices Advance and Rule
Above Saturdays Closing.
BUSINESS FAIRLY LARGE
Some Striking Movements of the In
dustrial Issues. =.
FRACTIONS PLAY A SMALL PART
st. Paul, U. P. Reading, N. T.. Ont.
& Western and Hill Stocks
Featured Railways.
BUSINESS FAIRLY LARGE
FRACTIONS PLAY A SMALL PART
Sp@.isl Dispatch to The Star.

Spscial Dispatch to The Star.
NEW YORK, July 19.-The criticism
was made upon today's dealings upon the
stock exchange, correctly or otherwise,
that they suggested a stronger market
tone than really existed. This same view
OF the case was, indeed. expressed in more
than one quarter. although In the nature
OF things the significance OF such COM
ment lay chiefly in its technical bearing.
As matter of fact, during the Larger
part of the business session prices -ad-
vanced, and in majority of instances
ruled well above Saturdays closing hg-
ures.
The volume of business also was main
tained upon fairly large scale, and
very fair distribution OF interest was ex-
hini,ed 4, was probably the case that the
more or less hesitating tendencies of the
United States Steel shares and few
other stocks were responsible for the
somewhat cynical comments upon the
course Of the market. During the greater
part OF the day United states Steel com
mon was under obvious pressure. Wnile
during the same period the preferred
stock was comparatively strong.
Contrary Course in Steel.
Aside from the matter of the listing OF
the common stock upon the. Paris bourse
there was no explanation OF the con-
trary course followed by these securities.
4 variety Of estimates we're in circula-
ton with regard to the earnings which
the steel corporation will make public
July -, but even the smallest of these
forecasts afforded no good reasons for
liquidation OF the shares.
The industrial and miscellaneous groups
elsewhere furnished some striking ad-
vances at one time or another during
the business session. Cases In point we're
Consolidated Gas. Brooklyn Union Cas-
Pressed Steel Car. American Locomotive
and American Car and Foundry.
The traction shares again played only
small part In the days transactions.
The railway list likewise displayed q
number OF quite extensive advances, al
though, as a matter Of fact, very little
news or interesting gossip accompanied
the transactions In that quarter Of the
market At the same time, In common
with other departments. some new high
price records were established.
Leading Railway Stocks.
Leading features OF the transactions in
this direction we're st. Paul, Union Pa
cific. Reading. New York. Ontario and
Western. the Hill stocks. Chesapeake and
Ohio, Canadian Pacific and Baltimore and
Ohio. The Rock Island stocks were dealt
in upon a very large scale, but without
particularly striking price changes.
American stocks were the strongest
features Of ~tha London market although
a generally firm tone prevailed there.
Foreign honses were buyers In the local
market to the extent of Il about 25,00O
shares. sf'5s s-t =
Money market and foreign exchange
circumstances showed little alteration
and the fluctuations in the commodities
markets were upon somewhat moro
orderly scale than has been the case for
some time past.