Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-07-30
ADVANCE is RESUMED
Stocks Move Upward After
Strong Opening.
HEAVY REALIZING SALES
Transactions on Largest Scale Of
the Week.
RECORD FOR U. S. STEEL COM.
An. Locomotive and Am. Car and
Foundry Attain Highest Figures
for the Year;
.ECORD FOR U. S. STEEL COM.

Srccia. Dispatch TO The star
NEW YORK. July 3O.-Stocks resumed
their upward movement in today's mar
ket The opening was active and very
strong, and. although there were OBJ
viously rather extensive realizing sales.
the recessions from the early advances
were not important or significant
Transactions were on much the largest
scale of the week as may be judged from
the fact that the dealings of the first
hour were il, greater volume than the
total OF business through all of the last
Mondays session.
As quotations receded slightly from the
high opening leve, there was some dimi-
mutton of activity. but the prompt hard
ening of prices seemed to encourage pur-
chases, either for the long or short ac-
count, and in the fore part of the after
noon the list ruled again around the
best figures of the day.
United States Steel common sold at a
new record price and several other issues
notably the railroad equipment stocks.
American Locomotive and American Car
and Foundry. made new high figures for
the year i'm the industrial quarter. while
New York Central and Louisville and
Nashville achieved a similar distinction
among the railroads.
Industrials Conspicuous.
American Smelling and National Lead.
moving presumably in sympathy. rose
sharply. and Amalgamated Copper and
Colorado Fuel displayed marked strength
Reading recovered its dividend Southern
Pacific advanced aggressively, while the
stocks of all the grain-carrying railroads
were more in evidence for strength and
activity than at any previous time this
week.
The foregoing citations sufficiently indi-
cate the breadth and character of the
market. which was. so to say. continue
tion of the vigorous activity that devel-
oped in the closing minutes yesterday.
The impetus which lasted over night
was probably sufficient to account for the
early trend which the market took today.
The contributing factor, however, of
greater consequence for the substantial
movement of prices was the happy dis
patch which the tariff revisers made in
their work yesterday. To Wall street the
conference agreement signified that one
more disturbing matter, and matter al
ways regarded with apprehension when
ever II comes up, was on its way to
speedy elimination.
Pleasure Over Tariff Report.
Especially was the relief which the con-
ference report signalized welcome because
of the disagreeable tangle into which
tariff revision had lately been thrown.
The upshot was that. whatever the ma
ture of the conference report, the stock
market was disposed to take favorable
cognizance ot the fact that report had
been made at all instead of regarding it's
contents.
Apart from the progress Of events at
Washington. the day was comparatively
barren of marketwise intelligence other
than routine sort. AS 1t happened, none
OF this was calculated to chill the senti-
ment betokened by security price move
ments. moderate aggregate of rumors
was in circulation intimatns deals and
increased or presumed dividends, but
there was nothing trustworthy, and most.
II not all. the reports were simply a
characteristic accompaniment of bulish
day.
In the money market the quotations for
time loans tended to approximate the
foreign figures, and the market was gen
orally firm at those levels up one quarter
OF one per cent all around since last
Friday. Foreign exchange was again
weak. Announcement was made Of a
observation-disclosures gold shipment to
Argentina tomorrow.