The age-herald., 1901-08-25
TAKE ON MORE ACTIVITY Customary Tendency to Take ] Profits Was Affected LONDON EXCHANGE CLOSED Diminished Production of Iron Has ! Resulted In a Weakening In That
 Market, While Delayed Deliv- ' l cries Are Affecting Profits.
LONDON EXCHANGE CLOSED

: New York, August 2.--The customary tendency to take profits at the close or
 weeks rising prices was offset today Dy the buying attracted by the highly raVor-
 able character of the weekly reviews or
 commercial conditions by the mercantile j agencies and by the Settlement of the : Franco-Turkish trouble. The London market was closed for holiday today,
 so that a demand for American securities induced by the latter development came
 directly upon the New York market.
 There was some profit taking before
 the appearance of the bank statement, and again in the final dealings, but the 2 professional found little difficulty in sup
 porting prices and held the market pretty
 steady and near the top until the close.
 The public still holds back, but evidently
 the hope is entertained that Monday r morning will bring more outsiders into
 the market attracted by yesterdays :. greater activity and strength and it's per
 slstence today. The bank statement was about as ex- pected in the cash item, except that the.
 supposed special shipments to Philadel- { phia were not disclosed. The moderate loan expansion was attributed to the stirring by poles in the stock market lSwhich has developed during the week. l, The leaders today were Atchison, Erie, the Pacifics, Amagamated Copper and Sugar
 in about the order named. The strength.
 was welladistributed, but some of the re- cent strong stocks hung back somewhat, ! especially the Pennsylvania groups, the
 Wabash, St. Paul and Southern Railway. The United States Steel stocks were quiet, but the preferred rose point in z the late dealings. There has been no re- s vival of speculative activity except in : few spots. The volume of dealings has 2 been somewhat less than last week, ana 2 on Tuesday the dealings In bonds fell to :, the low level of the year There was in- 2 creased activity of speculative bonds ! later in the week. Notwithstanding the
 dullness of the market, the tone has been
 quite firm, and there were periods of
 positive strength.
 Z The diminished productions of iron has : resulted in weakening in that market. 2 while delayed deliveries of some lines Of
 finished product caused by the closing of mills is beginning to interrupt projects } under way. The claim of the London , Standard that American consumers of 5 finished goods are placing orders in Great [ Britain on quite large scale is consld- ; cred significant in that respect. Wall : street opinion, however is inclined to deterfninedly optimistic view Of the out ! look in the steel trade. Operators in ' stocks are inclined to continue their an- 2 alogy on the improvement in the anthra- : cite trade in spite of the shutdown or j the mines.
 ! The real pressure upon stocks came in { anticipation of the strike, and forced the { drastic liquidation early in July, when I forehanded financiers were preparing Tor what they saw was the inevitable. Am
 ply retrenched a sa result of that fore r sight. under the generalship of the most ; skilfful manpulators in Wall street All Z departments of bonds were fractionally Z off to unchanged on the week.
 ' @'4a New York Stock Market.
 f eRv Private Wire to Murphy & Co.