| Show J MOVEMENT IN EBIE HELPS impression that dividends are to b inaugurated new york july A slight stirring of interest in the erie stocks today served to move the gendral stocks in sympathy the impressions waa that dividends were to be inaugurated on erie second preferred and conjecture was mostly confined to the rate at which the dividend would be placed but the belief in the erie second has been a actor in the market for several weeks increases have bean treated but did not offer much encouragement to indicate the wide movement in the erics so long expected buying of three classes of stocks 0 company was from but few sources and today was confined to one or two of the large traders who wera ato find any other eatock tor which any motives existed alter a traders movement the of the united states steel stock to the guarr terly statement of net earnings pub lashed late yesterday was an additional reason tor scepticism over the power of news ot loag expected low prices the quarterly report was favorably commented upon and was considered to make a strong showing the lack of response in tho corporations stock was thought to be due possibly to the tact that some 0 the over sanguine estimates of speculators had pointed to net earnings as high as in place of the actually reported but then there was estimates yesterday as low as the decrease in the volume of unfilled orders on hand compared with the be ginning of the previous quarter tras considered moderate in view of the lull known to have occurred la the trade and the belief Is prevalent that there has been something like a rush of orders since the first of the contti that holders of stock are not equally indifferent to bad news of special properties is indicated by the occasional sharp breaks in specialties pittsburg Pitts burs coal preferred declined to a new level today as a result of the suspension of its dividends the cotton market was thrown into some excitement again today by tha publication ot the governments revised figures of the crop acreage and tha yellow fever outbreak in new orleans was the subject of discussion with a slight effect of depression on some ot the southern railroad stocks the news from grain crops continued favorable vo rable money remains very easy but foreign exchange rates rose and there Is a supposition that some of the japanese loan proceeds are being remitted abroad tho establishment of he erlo second preferred on a tour per cent was the best expectations but the declaration of the dividend for a full year at this time with probable payment in two installments was 9 general surprise the erie rose in consequence in tha final dealings at which time the dividend was announced and made the closing firm bonda were steady total sales par value united states bonds were unchong un chang ed on call s |
