The age-herald., 1901-08-29
STOCK TRADING
 FALLS BELOW PAR Number of Shares Sold Was
 Less Than Half Million BEARS MADE A FEEBLE RAID They Soon Became lntimldated and Bought Back, Covering Short Lines : Left Over From Previous Day. Foreign Markets Active.
BEARS MADE A FEEBLE RAID

New York, August 2S.-The stock mar ket relapsed into trivialties again touay, The transactions fell below half million shares and mixed use of exchange at the close was wholly without significance ex- cept as reflection of the indecision dwelling in the speculative minds NO attention was paid to any news or the day. and in fact there were no occur rences having any important bearing on the values of securities. The bear trad CTS made feeble tentative raid shortly after the opening, but the, offerings Of stocks proved so small that they became intimidated and bought back again. cov- ering short lines which were left over from yesterday. The success of yester. days raid seems to have been due to an encounter with some particularly weak speculative lines which represented little more than a froth easily blown off the surface of speculation.
 Today shows stocks tenaciously held again notwithstanding the extreme list lessness of the demand. Signs of renewed weakness in the corn market after the opening dealings induced some covering of shorts from Western sources, but these were not put out again when corn rallied later. The approach of three day hiatus in the stock market with the possibilities of favorable or unfavorable developments in the intervals was enough to dissuade either the bulls or the bears from com mittihg themselves that the length of time and to this deterrent influence may be added the recognized possibility of the making up of call loans on Friday. The re-opening of the dispute between France and Turkey has some influence on foreign markets which is emphasized by the discouraging view caused by the pro longation of the Boer war. On the other hand a settlement of the steel strike is believed in Wall street to be possible at any time. Notwithstanding the depres- sion generally in foreign markets there was active demand from the arbitrage houses for stock market settlement which is to be concluded tomorrow. Be- sides this there were renewed offerings on a large scale of exchange bills against grain exports. The effect was to cause decided weakness in sterling exchange. The dealings in the local money market, however, continues to show a spirit of caution due to the continuance of factors of depletion which are likely to gain force. New York banks deposited $700, 900 at the sub-treasury today to be transfer red to Chicago to meet current needs there, although the simultaneous rise to within cents of par of New York dis count in. Chicago suggests that buying of stocks for Western account may have caused this demand for New York ex- change. The fear is felt that yesterdays payment. of over $4.00O,oOO at Philadelphia on account of the Bethlehem steel pur- chase may have affected New York bank reserves. The market closed dull and heavy.
 There was less doing in railroad bonds shan yesterday. but prices were about steady. Total sales par value, $1,5O0,O ,O00 United States bonds were all unchanged OF the last call.