The Washington times., 1901-08-24
AN INCREASE IN ACTIVITY.
Stock Market Prices Undergo a
Fairly General Advance.
The Probabilities of the Bank State
ment Receive Little Attention-The
Railway List still Leading Fea-
turc United states steel Firm.

NEW YORK. Aug. 23.-There was a
pronounced increase in activity in today s
stock market, a much greater diversiti-
cation of speculative interest and fur
Their fairly general advance in prices.
These circumstances were the more note
worthy, inasIruch as todays situation
was bare of important developments and
this mornings news set forth very little
change in the several prominent subjects
which have latterly engaged attention
The steel strike situation did, indeed,
show material improvement. owing to the
success of the corporation in reopentng
several of its mills but the intelligence
in question could hardly be cited as a suf-
ficient explanation of the dealings at large
in the market. London was not a factor
of any weight in the local dealings, the
changes in prices in American stocks fur
nshed from that quarter being irregular
while the transactions here for foreign
account were upon an inconsiderable
scale.
Very little attention appeared TO be ac-
corded to the possible showing Of tomor-
rows bank statement. in which regard
it may be noted that todays preliminary
estimates of the money movement of the
week indicated a gain in actual cash by
notwithstanding that they have made
small loss in their dealings with the Sub
Treasury and that there have been con-
siderable shipments of currency to the
interior. Only a few items of railway
traffic were submitted with the course of
the day and there was no other definite
news bearing directly upon particular
stocks.
Throughout the current month the
street has become accustomed to look for
reactionary movements at the close of
each week. unreasonable enough expecta-
ton in view of the still professional char
acter of the market. This notion led to
good deal of selling today, but the mar
kct showed abSorptive power Of uneX-
pected proportions.
Very little increase in commission house
business was reported, and the room
traders were again disposed to combat
the advance SO that the firmness the
market displayed suggested that what are
styled the larger financial interests were
taking more active part in the dealings
than they have done Tor some weeks. AS
already noted speculative inter. st was eX-
ceedingly wei diversified. but the railway
list again led the market in respect of
activity. Trading in that quarter did not,
however, by any means overshadow the
dealings elsewhere. The United States
Steel issues, while rot remarkably active,
were firm, and Sugar Refining was ex-
ceedingly strong. Among the so-called
specialties there were rapid advances in
AInalgamated Copper and Tennessee Coal
and Iron, while Sopublic Iron and Steel.
American Smelling. and Consolidated Gas
were firm. The local traction issues came
III for increased attention and advanced.
with fairly large dealings in Manhattan
Railway and Brooklyn Rapid Transit
The more noteworthy movements in the
railway list were in Union Pacific, South
ern Pacific. Texas and Pacific. Missouri
Pacific, Louisville and Nashville Ealti-
more and Ohio. and the Atchison shares
Southern Pacific in particular was re-
markably strong, ospe cially in view of the
now generally credited assertions that no
dividend will be declared upon the stock
for another twelve months. Among the
less active railway issues. Colorado and
Southern and the Hooking Valley issues
were all strong.
There were active dealings in St. Paul
but the stock had somewhat uncertain
tendency, chiefly. apparently, on account
OF the divergence OF opinion in regard to
the rate of dividend to be declared next
month. II is not TO be expected that any
absolute information in this respect will
be vouchsafed the public until after the
meeting of the directors is held to fix
upon the figures. but the peculiar inilu-
entail position in the market occupied
by the stock naturally causes the spec
uiative public to attach a great deal of
Importance to the matter in question.
The Anthracite Coal stocks while some
what less active than they were early
in the week continued decidedly strong
particularly for Erie and Reading is
sues.