Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-08-05
Stock List Generally Weaker Over
Steel Situation.
DECLINE In LATTER ISSUES
Another Drive at Atohison on Div
idend Rumors.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. August 5.-saturday's fruit
less efforts to end the steel strike and fears
that the decision was inviting q prolonged
conflict between capital and labor, resulted
In weak stock market this morning. In
terest conferred In the stocks Of the United
States Steel Corporation, initial transac-
lions being for round amounts at de-
cline of per cent from Saturdays closing
parity. Around 40 for the common and 90
for the preferred, probably the best sup
porting orders recently seen In the street
were clearly reflected.
During the first half of the session the
entire trading in these shares was kept
within fraction of these figures. During
the afternoon the selling of the preferred
stock broke the price slightly under 90. but
the break was utilized as a cloak for cover
ing in the general list and reflected no lack
of watchfulness on the part of the banking
interest.
The action Of the general market in the
presence of such unfavorable developments
was regarded as evidence of combined &C.
ton on the part OF the leading interests.
In commission house circles there was a
tendency to proceed cautiously, but there
were indications of uneasiness because OF
the many unwelcome possibilities suggested
by the strike conditions.
The delay in taking radical action on the
part of the association had q suggestion OF
encouragement in 1t, but only to the point
OF preventing liquidation Traders were
early In discovering this tendency, and Of
fered stocks down In order to force selling
Of long stock
Later in the day some scattered selling
by commission houses was noticeable, and
every rally increased the supply Of stock
from such sources
Chicago was again free seller of the
Granger and Steel issues and Pittsburg
houses sold the latter literally for both ac-
counts. A strong bear party Is reported in
the Steel stocks and the banking interest
has more than liquidation to contend with,
but the covering Of the short interest at a
future date will probably pay for the pres
ent support.
The western contingent had the ad-
vantage OF a firm market for grain upon
which to base its selling and put out new
lines of short stock rather freely In con-
sequence Union Pacific was under pres
sure and all OF its allied properties SUI
fered In sympathy. Buying orders which
had been under st. Paul were withdrawn
or the limits reduced.
The specialties sold down simply be-
immediate advance and the prospect Of
buying them back cheaper was considered
a good risk.
Atchison had fair amount Of support.
heavy. The one feature Of strength was
shown by st. Laurence and Adirondack q
new high level being made for 1t in spite
OF the tendency Of the general market
Sugar was freely sold by traders and q
few large commission houses The decline
was said to meet with the approval Of the
inside interests All the Industrial issues
were weak in sympathy with the market.
Dizziness set in at the decline which fol-
lowed the delivery hour and the chances
are that inactivity is the most to be ex-
pected for the time being Activity is pos
sible only upon a declining scale. Money
Is easy and the banks are not apprehensive
on that point