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Show i Steel stocks take I LEAD IK MARKET J ' lighest Price of the Present 'S j ; Year Reached by Many Industrial In-dustrial Securities. ! RAILROAD SITUATION ; j IS ALSO A STIMULUS Proposed Increase in Freight J Rates Eelps to Raise Hopes II of Speculators. n M XBW YORK, July 15. Thcro were no fforAe11"''11? developments to account for the , further advance in prices of stocks to-3C to-3C "way. The buying: was based on the gen- OAfval Improvement In the speculative slt-aiatton. slt-aiatton. Commission houses reported some coittnoderate and scattering increase In oral or-al die?crt; for miscellaneous sources, but the .. transactions remained largely in profes-4011 profes-4011 teional hands and partook of the manlpu-andjlatlvc manlpu-andjlatlvc character usual in that class of rf 'operations. The decisive fact stood out TpromlnenUy, as was tho case yesterday, ed fthat increased Bclllns pressuro was llght-Ttat llght-Ttat as the level of prices was lifted, thus ""'.leaving tho way unobstructed for a con- ACt,nuance of the advance. There were oc-- oc-- 0 "jcaslonal. setbacks In the movement which .'seemed to bo due as much as pauses in flngfjthc bullish operatlous as to any active nnal'VBClIins pressure. , VJ In United States Steel there was some 1 TWmanlfest selling to realize, part of It com-Jlhff com-Jlhff from foreign quarters. This was ab-sorbed ab-sorbed with confidence and that stock and T-WDtdc preferred stock proceeded to a new f ihlgh price for the year. These stocks ponstliutcd an effective leadership for the. ere cwho!c market, their persistent strength 3 forrmv'ne a stron& sentimental Influence in . maintaining: prices elsewhere. A number Is teof. Industrial stocks Including most of OiaYuo distinctively iron and steel Industrials, . . .went to 'the highest prices of the year. tHfcmalgamatod Copper. National Lead, 3 0Vpentnil Leather and United States Tlub- JTber were old examples In tho class of in-vaBebstrlals. in-vaBebstrlals. Llmifct'The railroad lists shared In the day's 'Strength, but offered fewer instances of ftiigh record prices. However, Union Pa-sectlfUlc Pa-sectlfUlc (allowing for a. dividend reduction'), ofrAN"orthern Pacific, Atchison and Canadian "fjncine were at the year's best prices to-tenjlay. to-tenjlay. j jr The Canadian stock Is helped particu-Jia particu-Jia Marly by favorable reports of tho wheat urtidiprops prospects In Its territory and by Uhe rapid development of some of that 'territory. Crop news generally was fa-wbrable fa-wbrable today, as was indicated by the decline In prices of grains, j TTe generally cheerful view of prospects H INyhleh is obtaining foothold in financial Circles was fostered by conlident view's 'experienced In published Interviews by JJlflteveral leading financial authorities. Prob-CUUJ&bly Prob-CUUJ&bly some part of the underlying strength 'Of railroad stocks is due to tho convic-jr convic-jr '.ion that process of readjustment of freight rates is being worked out by the aafailroads of the country which will re- iiilt in an increase of the revenues derived jfrom their traffic. News of the filing of ipotlces with the Interstate Commerce .-J'ominlsslon of new. rates shows the move-JUpisnt move-JUpisnt to be widespread and the changes 4o represent increases as a rule. While jaothlng like a general increase has been attempted thus far, It Is not believed that I5o result will be sought in a piecemeal banner. Shipping interests are by no means agreed with the contention of the rrallroads that these Increuses can be Instituted In-stituted without perceptible effect on oriccs of commodities, and can thus hope ito' escape complaint and crltlcsm while Jihabiing the railroads to cover the mar-r mar-r jjfin of fixed charges and moderate profits, j without cutting down wages of employes, lipln spite of protests of shippers in various wcprganizations. it is evident that the ln-.Jsrcase; ln-.Jsrcase; of freight rates are going on, Jihd the effect on securities prices is undeniably un-deniably favorable. Tho quick sale of the .r.'rtfj Delaware & Hudson before lssuo and the ,XL ?i$tlv.ince In premiums on the new bonds mijn the market had some helpful Influence. lugThe engagement of ?200,000 gold for ex-jiort ex-jiort to Paris, being all the bar gold pro-'ellurable, pro-'ellurable, "as practically Ignored in the lltock market. Repayment of the quota of Jmvernmcnt deposits called for by the Ijecretary of the Treasury was completed .oday and preparations were completed a i"flbr the 05 per cent payment of subscrip- flbns to Union Pacific bonds tomorrow. FIth the effect of these transactions and ho Delaware & Hudson bond sale buro-y buro-y perceptible In the money market the CaUiold export excited no uneasiness. A tfreak of 4 points In Rock Island collateral collat-eral 5s was a disturbing element In the jgter market, in which a considerable re-Tfction re-Tfction occurred. 2&Bonds were Irregtilar. Total sales (par "Jalue), J3.G0G.000. IkUnited States bonds were unchanged on Nevr York Bonds. rWS ref 2s reg. ,103g.L &. N uni 4s... 07 do coupon . ..103gMan c g Is riiJl S 3s reg 100 iMox Cen 4s 82 -.i i?ido coupon ...1003 do 1st Inc J5 51agLtS 4s reg L20VMlnn & St J, 4s. SO rdo coupon ....122i 7.1 K & T 4s 07i nsm Tom 4s 73 f do 2nds 84 Ldo 6s 1051INRR of M c 4s. SI Itch g 4s 9S3!NiTC gen 3s... 013 "do adj 4s S0i X.TC Jcen 5s 122J ado cv 4s 94i Nor Pac 4s 102 Tdo cv 5s 1005 do 3s 72 It C Line 4s... 02 N .t W con 4s.. 05i ,oirI& 0 43 00 0SL rfdS 'Js 00 lllaludo 3as 92 Penn cv,3Js 1015 02 J JJR T cv 4s 72 do con 4s 102S jloC Ga 5s 10S Read g 4s.. ... 072 iwTrtlfiW0 lst 722Rop of Cuba 5s.l03j V2l3& 2d Inc.... 472 SL & IM c 58...107J ,Sz Ohio 4is....l02iSL Swn c 4s..., C THrtOfi,2 A 3!s 65 S Air L 4s 58 ilJvuP,S; Q n 4s... 0Cg;So Pac -is 8(5 r tea & p 4s C23l do lst 4s 02 Ido col 5s C2 So Rv 5s 09 ta.fRI & PRv rf Is S5 T & Pac lsts. 104 3? 01 1 d cv 4h 921 If? ThP0TSo -s.. 00i,U S Steel 2n 5s. 001 cv A b! Wabash lsts . 104 IS gOI& 11 Guis ;-- 1 I West lrd 4s.... CO b VJrie pr lien 4s.. 81 W & LB 4s .... 003 stanWdo gen 4s .... n2iWls Cen 4s S3 nal -lis ......lOUjNT Nil & H cv tor Met 41s... crtj Cs ctfs .. sg tipan 4s 70J' NTBBlSiS2d-'i::SJi 30ple. j New York Money. ITH Sm.lvRYlL 15-Close:.Money jrime loans slightly firmer, sixty davs " fr cent; ninety days, 2(5 per cent- it v -Mpntha, 33 per cent. ptr cenl' slx 4 ilKfj"?? mercantile paper 3J4 per ccnl I B Sterling exclmngo easier, with actimi R,Incas In bankers' bills at 4.87.10 fSr Vie inSA nn,d nt ,"85 75 for sixty-day bills" iVmmcrclal bills 4.S0i J.SSg. y UIH' - 'Mexican dollars, 40c, DSar.b0,ldS' Steady: ,roart ,ioh c Treasury Statement. brtO. fS"fLN;?T0N" Ju,y 15 Today's ?iate. VS5 feVn,or, lh.e balances In the 338 "aWe rash balance. $213,301,020. ..gw ".J."1'1 bullion. S4n.28u,.iS3. |