The evening times., 1911-07-25

Period Of Rising Prices Has
Been Ended-Prices Are
Slightly Lower

l
| the period of increased activity and
rising prices which enlisted specula-
ton last week had been terminated
for the present, at least. After an
irregular opening, with most prices
slightly lower, the market hardened.
Union Pacific again took the lead. ris-
ing point and held it throughout the
day. Toward the end of the day stocks
We're sold on a somewhat heavier
scale and receded further, the close
showing losses generally distributed.
A conspicuous feature of the mar
ket was the heaviness Of the north
western group of railroads. In the
afternoon reaction the Hill and Harri-
man stocks and st. Paul fell back
more than a point. Canadian Pacific
was heavy throughout. These issues
were advanced from time to time re-
Gently and the explanation was given
that they in particular would receive
benefits from Canadian reciprocity.
The set back in these issues immedi-
ately after the passage of the reci-
procity bill by the senate probably
was due to profit taking by holders
who look for no immediate extension
of the movement, now that this coun-
try has done its part
Despite the moderate recessions as
result of the days operations senti-
ment in the street was largely bullish.
This was due in part to reports Of rain
through the corn belt and to pros
poets of the early adjournment of con-
gress. Some professional traders were
inclined to view today's market as
merely temporary lull in the bull
campaign.
The bond market was steady. Total
sales par value $1,779,O00. United
States bonds were unchanged on call.
Money Easier.
London, July 25.-Money and dis
count rates were easier today. The
bank OF England secured the bulk of
the S3,00G,000 South African gold Of
fered in the open market.
Politics and the nearness of the set
tlement checked business on the stock
exchange, but a good tone prevailed
during the forenoon, especially in the
British section. In the afternoon con-
tentinental and local realizing caused
a setback and weaker closing.
American securities opened a frac-
tion above parity, but realizing caused
declines in portion of the list before
the end of the first hour. Then the
market became steady on Wall street
support. In the afternoon Canadian
Pacific declined on Berlin selling but
the rest of the list closed fairly steady
Cattle Market.
Chicago, July 25-Close-Cattle re-
! ceipts $4,000, market shade up; beeves
$5.10M7.10; Texas steers $4.50@6.10;
western steers $4@5.90; stockers and
feeders $3@5.40; COWS and heifers
$2.2O@590; calves $5.50@S.
Hogs-Receipts $4,000, market 8
cents higher than the opening; light
$6.3O@680; mixed $6.30@685; heavy
$6.05@6.75; rough $6.05@6:30; good
to choice heavy $630@6.75; pigs $5.25
@6.3O; bulk of sales $6.5O@6.7O.
Sheep-Receipts $4,000 head. Native
$25O@450; western $2.75@4.60;
yearlings s4.25@5.50; lambs, native
$3.75@7.20; western $4.50@7.20.
Visible Supply.
New York, July 25.-The visible sup
ply of grain in the United States Sat-
urday, July %, as compared by the
New York produce exchange, was as
follows:
| Wheat 34,394 900 bushels, increase
5,2A1 900.
Corn $4,000 bushels, decrease
2O64, 900.
Oats 1o,901, 900 bushels, decrease
100000.
Rye 10000 bushels, decrease 1000.
Barley 100000 bushels, increase
$4,000.
The visible supply Of wheat in Can
ada last Saturday was $4,000 BUSH
els, decrease of $4,000.