Evening star., 1901-08-07
Strike Order Did Not Have Much
Effect on Prices.
TONE WAS RATHER BULLISH
Steel Issues Particularly Were in
Good Demand.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, August THE issuing of
the much-discussed strike order failed to
cause alarm In speculative circles this
morning. opening prices being the lowest
Tor the day In most instances. The docu-
ment which has been the main reliance of
the selling party seemed to lack force and
was regarded rather as an appeal for aid
The opening Of another mill as non-union
seemed to indicate a slight advantage I'm
favor of the United States Company.
Fears were materially reduced and the
strike was looked upon as likely to revert
to the conference stage again. As a mar
ket factor 1t failed to deter buying to the
extent noted yesterday. The buying went
into the properties in which the largest
snort interest was known to exist. Chi
cago houses bought the granger shares
against previous sales. and there was a dis
position to regard the crop news as having
been overestimated
The government crop report due on Sat
urday, Is now expected to show fair corn
crop In districts heretofore reported as
total loss. The damage along the Atchson
lines, for example, Is less severe than at
first reported, and it was confidently stated
that earnings for the present year would
not suffer noticeably. Some rather good
buying went into Atchison issues during the
day, and a moderate short interest covered.
The Union Pacific meeting tomorrow Is
expected to confirm recent advices of an
unchanged dividend. There may be better
statement OF earnings made than seemed
possible last week. and the short interest
covered a considerable volume of stock in
consequence. The declaration OF a pa per
cent semi-annual dividend on st. Lawrence
and Adirondack, the initial dividend for
this company, resulted in a rise of 6h per
cent today. Realizing sales around the
top prices forced a moderate recession.
The Steel stocks and all the induspr;als
were steady to strong under dealings In
which commission houses took part. Pub
lie interest is lacking, but there are evil
dences that some important developme nts
are to be announced early in the fall. In
anticipation of such announcements there
is concerted action among the larger in
terests looking to ease in the money mar
ket.
Prominent financiers express confidence
in a plentiful supply of funds during the
coming season and see no reason for delay
ing certain railroad enterprises which have
been kept in the background during the
vacation season.
Rumors Of a possible gold shipment later
in the week failed to find reflection in the
course Of prices.
The outflow, should it happen at all. will
reflect special transaction and should
cause no concern. Commission houses Of
some prominence incline to the view that
the present drawbacks to an active market
Will be removed much earlier than the pub
lie expect. and that big demand will set
in for the issues concerned in the commun-
ity Of ownership plan.
However this may be- there has been
but little liquidation during the last fort
night when the character Of the news is
considered. and the support has been OF
the best. The strike order goes into effect
and the crop report Is published after the
close Of business Saturday. 1t will he
interesting to see which account will be
the more nervous over that period.