Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-09-05
FINANCE AND TRADE
War Talk Made Stocks Weak in
London Market.
BETTER TONE AT new YORK
Vanderbilt Properties Took the Lead
in the Rise.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star.
NEW YORK, September 5.-The securi-
ties markets in London this morning opened
with fairly good tone. A little later on.
however some weakness developed on pub
iication in afternoon papers there inttInat-
ing that the Transvaal situation was again
assuming a very threatening aspect. in
diplomatic circles. however. 1t is still con-
tended that an actual crisis will be avert
ed. Home railroad stocks. as we'll as the
International shares, were heavy and Amer
leans sympathetically weak. with prices
not much below the closing figures at New
York on Saturday.
In the local stock market the opening
while duh, was generally firm. Soon after
the opening the Vanderbilt group of stocks
showed aggressive strength, and this fea-
ture, together with the small offerings
around the room, caused sharp rally in
Chicago and Northwest. Omaha and New
York Central. In the Granger shares and
the Pacific stocks brokers who tried to buy
found few stocks for sale.
The buying in Big Four was said to be
for the interest of the insiders in that
speciality. The Industrial group showed an
inclination to advance. too. This was espe-
cially noticeable In Tennessee Coal and
Iron Of the iron and steel shares. This
stock. after opening about where It closed
on Saturday last. took a sudden squirt of
nearly three points. There was no real news
ir regard to this movement. Brooklyn Rap
i'd Transit. after some hesitancy at the
opening. scored an advance OF over a point
on covering OF shorts.
Sugar stock after the opening reacted
half point, but rallied a point a little
later in sympathy with the rest Of the mar
ket
Traders bought the Union Pacific issues
hax Fol, h.a
rise in the Vanderbilt securities.
The old rumor that the local gas war was
settled caused a two-point advance in Con-
solidated Gas stock
In the afternoon market as was the case
in the speculation this morning. Tennessee
Coal and Iron was easily the feature. the
stock selling up to 1o4k, a gain of Az
points from the opening. The only news
on the stock was the talk of a new bull
pool having been recently formed and that
the buying was good. 1t looked. however.
as II the stock was not very plentiful in
the street. and that most Of the rise
due to the anxiety of the shorts to cover
their outstanding contracts in the stock
1t was said in the street that the move
in the Northwest stock must be indicative
of some new development in that property.
as the present dividend does not justify the
present price of tnat security. Two other
strong features of the afternoon specula-
ton were American Tobacco and Colorado
Fuel and Iron, both scoring sharp ad-
vances over the opening figures on cover
ing OF shorts
The strength shown by the investment
stocks in today's market aside from the
shorts covering in the industrial and spec
uiative shares, is regarded by some very
shrewd observers as evidence of an effort
on the part of some of the larger operators
to create a bulliSh sentiment throughout
the general list. This ought not to be a
difficult task for the bulls. as the short in
terest is still quite large. and railroad
earnings keep up their remarkable in
creaseS.