Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-07-29
FURRY OVER MONEY
Increasing Activity Among the
Call Loan Men.
SEQUEL TO CROP DEMANDS
Salient Characteristic of the Street
Dealings Today.
RAILWAY EARNINGS PLEASING
New York Central Led Upward
Movement With Railroads.
Reading Strong.
RAILWAY EARNINGS PLEASING
Special Dispatch to The star.

Special Dispatch to Tho star.
NEW YORK, July Embarrassing ac-
tvity in the money market was the most
salient characteristic of the tinancia!
community today. Borrowers who have
been relying heavily on call loan &C
commodations appeared in greater num-
her with the requests for time money.
especially for five and six month ma
lures. Lenders in view of this were dis
posed 10 advance quotations and at the
same time limit their offerings.
The market was firm at IA per cent
for sixty days, and the majority of six
month loans were made al 3Ss and -
per cent. cail money renewed at Us per
cent, and most of the days loans were
made at that figure. There is no dispo-
sition TO anticipate any period of ex-
cessively tight money conditions before
the end of the year but the presen: sit
uation is significant OF the demand which
crop requirements and improving bust
ness will make on credit facilities.
Apart from the foregoing very little
transpired in Wall street outside the four
walls of the stock exchange which was
of much consequence.
Crop Advices Encouraging.
The crop advices received were of an
encouraging character. as were such
statements of railroad earnings as were
made public. The Canadian Pacific closed
its year with an increase in gross APP
proNimatins S5.NOOGO. about IA quarter of
which retained in net.
The railroad reports which are now APP
pearing. showing they do gains in in
come for June and July. are corrobora-
nf 1Ia yiv
quarterly statement of the United States
Steel Corporation as to the rising scale
of business Improvement.
During the stock market session there
was considerable discussion Of the ap-
parently undesirable pass at which tariff
revision had arrived Conjecture ranged
over all the possibilities marketwise, but
in the upshot the considerations seemed 10
nave no effect on the days. prices, al
though they may have been reflected in
Inc curtallment of activity.
Stocks had a rather coloress opening
and speedily developed quite extensive
sort about offsetting advances of a
similar extent
Firmer Toward the Close.
Upon the discovery that there was no
large amount of securities pressing for
Sdic traders LOT the snort account COW
cred their commitments, and toward the
end of the forenoon the list became firm
er. under the leadership of New York
Central. which had striking rise. asso-
ciated in some minds with the optimistic
ntterances relating to crops and the sit
Uation Of this railroad credited to one
of the Centrals officers.
II is hardly necessary. however, to
seek at the present time for explana-
m f.xnf nf 10 Of
particular securities. The market is
not of that sort. as was indicated, for
example. by the renewed outburst of
strength in Louisville and Nashville to-
day after its almost complete omis-
sion from the list of transactions yes
terday.
There was no breadth to the dealings
at any time. but at varying periods one
or more issues came into prominence.
Union Pacific and United States Steel
common, market leaders in the fore part
of the. week. displayed Il firm under
tone. Reading was strong. The stocks
of the grain-carrying railroads were. on
the whole. sluggish. Colorado Fuel was
perhaps the most aggressive industrial.