Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-07-27
MARKET IS STRONGER
Undertone of Confidence Re.
Elected All Day.
STEEL A LEADING FEATURE
Not Much Interest Shown in New
Dividend Prospects.
TRADE CONDITIONS IMPROVE
Amalgamated Copper Firm Despite
Decline in the Metal-Trac.
STEEL A LEADING FEATURE
TRADE CONDITIONS IMPROVE
Amalgamated Copper Firm Despite
Decline in the Metal-Trac-
: ton Stocks Conspicuous.

Special Dispatch to The Star.
KEW YORK, July 27.-There was some
increase of activity and a considerable
broadening of interest in today's stock
market United States Steel common was
the leading feature Of the whole list. but
Union Pacific shared with this prominent
industrial the credit of exercising 81
strengthening influence. On the whole the
market reflected strong undertone or
confident sentiment rather than any out
side news or views of salient Importance.
In the early dealings buying of Steel
common. attributed in large part to Lon
don. which had sent out some important
fractional advances for American stocks,
dominated the transactions.
Steel Common Steady.
Throughout the day this issue present
ed an appearance of such well grounded
strength that it almost looked as though
the quotations for it would not be ma
teriaIly lowered even if the directors
should reduce the dividend at today $
meeting instead of gratifying hopes by
raising it or satisfying expectations by
leaving it unchanged.
There was less interest shown in the
dividend action than in the probable re-
port of earnings and untitled orders for
neighborhood OF 10000, 900 compared with
81. ,26S. and untitled orders we'll ex-
ceedinS the .54c.I95 tons at the end of
the last quarter. the financial community
thought that the substantial condition OF
the steel corporation which would be thus
exhibited would be of greater consequence
tlan the rate OF return on the common
stock at this particular time. There was
disposition markedly apparent to take
stock of the generally improving trade
situation and not to endeavor to account
for the movements in any given issues by
dividend prospects
Strength Accounted For.
Albeit. there was to account for the
strength of Louisville Nashville and
the sympathetic strength Of Atlantic
Coast Line dividend gossip about the
first named. In the same way there
was a repetition of familiar talk about
theS prospects for resuming dividends
on Rock Island preferred. Viewed as
a whole, however. the strength Of the
Union Pacific. which reached a new
high record price in the midday deal
ings, was owing for the most part to
the wider recognition OF the upward
course Of business throughout the coun-
try.
In the industrial quarter Amalsanaated
Copper was Arm. despite the decline in
the metal. Republic Steel was very strong,
as was American Smelling. The indus
trials came somewhat more into promi-
inence after the railroad, shares had
.usurped interest in the later forenoon.
B. r. T. Shows Firmness.
Local traction stocks were more gen.
orally conspicuous than they have been Of
late. Brooklyn Rapid Transit was firm.
and the Inter. Met. issues. especially the
preferred. enjoyed a sharp upward turn.
s.,<3s
eating the discontinue Of q temerarious
short interest rather than any change in
the. traction situation. Meantime the In
,terborough- metropolitan Az per cent
bonds continued heavy.
Money was loaned on call and renewal
at III per cent. There was a fair de-
gree of activity In the market for time
loans. The demand was chiefly for Oc-
tober and January accommodations, with
considerable business at aA per cent for
the first and 3za3hs per cent for the
later maturity. Announcement was made
of a forthcoming shipment OF $25o.00o
gold to Argentina.