Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-09-11
FINANCE AND TRADE
Stock Market as q Rule Was Without
Feature.
FEW TRANSACTIONS RECORDED
Coal Stocks Were Strong on
Chance Of No Strike.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. September 1.-THE buying
Of a few stocks against previous sales and
the selling Of few others to take profits
made up what there was Of a stock market
this morning. London bought moderately.
principally Union Pacific and Atchison. but
the demand failed to inspire new business
on this side.
The Maine elections were favorable to
prices and some attempt was made to
give the market an appearance Of activity.
The stocks in which q short interest was
known to exist were bid up sharply and
held fairly well at fractional advances.
The decrease In st. Paul's current earn
fngs resulted In lower prices for time, but
later demand by the short interest I'm
level. Atchison common was strong, but
the preferred showed signs Of profit-taking.
some round amounts being marketed
around the low prices.
The Coal stocks were sustained by the
combined influences Of favorable strike
news. and a revival Of the consolidation
rumors. The latter argument rarely fails
to encourage buying particularly in New
Jersey Central, and repeated denials fall to
exert q lasting influence.
The market has all the atmosphere Of one
awaiting some important development. and
the eyes Of the street are upon the coal
group. Changes in trade conditions and
the unity Of Interest in the eastern lines
naturally attract attention to the lines In
position to profit most by pending alliances.
Louisville and Nashville was advanced
under demand from the short interest,
but stock seemed to be willingly supplied
at the advance. The roads in the south
in view of an expected attack based upon
the Texas disaster. Peoples Gas and lhe
Traction stocks were strong. at times, un-
der a demand having no significance be-
NJ otca lin
steel and wire and the various iron product
properties were steady under a limited de-
mand.
The strength OF government bonds and
the better class Of railway mortgages was
an encouraging factor. the inquiry for such
Issues at current premiums being taken
by some to indicate a belief in cheap money
ana by others as reflection OF mtstrust in
speculative issues Commission houses are
doing little business. in spite OF the fact
that the vacation season is drawing to-
ward close and that each day adds to the
number Of returned clients.
The disposition to wait Is unchanged. On
value many issues are attractively low and
would be bought with confidence were It
not for the political uncertainty. The mar
ket lacks leadership, and until some def
mite development Is reported no active cam
paign will be undertaken in either account
Selling Is not attractive because few stocks
are available for borrowing purposes
The public does not liQuidate what II has
nor accumulate additional holdings. This
inaction leaves the making OF prices to the
room without molestation. unless the de-
cline looks like succeeding when inside in
terests come to the rescue, bid I'D prices
and demand the return Of stocks loaned
In small way this latter process has been
repeated many times during the summer
A scare formidable enough to inspire SELL
ing by the public or such confidence in
election results as to issue new buying are
the conditions precedent TO activity. Funds
available for prompt use are more desira-
Ole just now than stocks in either account