The Washington times., 1901-08-02
MORE CONFIDEN u SHOWN.
A General Rising Tendency at the
Opening of the Market.
An Expected Settlement of the Steel
Strike the Main Factor-Reactions
More or Less Extensive Follow
The COaI-CsrryinG Lines Active.

NEW YORK. Aug. 1.-At the opening
of business in today's stock market a
vague sort of impression appeared to
prevail that with the course of the day.
there would be some announcement OF
the final settlement of labor troubles
affecting certain constituent companies of
the United States Steel Corporation. The
views in this regard were altogether un-
sustained by any actual news, either
from Pittsburg or New York, but they
apparently found such general acceptances
as to induce i firmer ana more animated
speculation than has been witnessed in
a number of days.
Not only the shares of the United States
Steel Corporation, but practically the
whole market, moved upward and the
trading had 4 more confident appearance
than 1t has displayed in soIne weeks. The
dealings showed a more general diversih-
cation of interest than for long time,
the shares of the coal roads in partic-
ular. both the bituminous and the anthra-
cite lines, being especially active
Indeed. the market at large showed a
very pronounced shifting of interest from
the granger shares and rne other recently
coEspicuously active features of the mar
ket into other quarters, although the
United States Steel issues naturally re-
tanned their prominent position. While
the market showed some increase in ac-
tivity. it could at the same time only be
designated as dull, that is in comparison
with the standards now prevailing.
There seemed to be a decided diminu-
tion of interest in the advices from the
grain-Erowing sections. The news from
that quarter continued encouraging, but,
on the other hand. corn opened strong
and active, and while the quotations for
that staple reacted with the course of the
day, its tendency reflected evident
belief on the part of the public that there
had been serious impairment of the
crop.
Inc forenoon session witnessed a num-
ber OF fairly spirited advances, but after
midday reactionary tendency was COM
mon. Conspicuous features of the earlier
trading Were Norfolk and Western, Ches-
apeake and Ohio, and probably, Sympa-
thetically. Pennsylvania Reports of i'm
portant developments in the bituminous
coal trade attended the movements In the
two stocks first named and there was
belated advance in Baltimore and Ohio.
ST. Paul, Union Pacific. the Atchison, and
the other stocks most directly concerned
with the agricultural situation were COM
paratively dull.
Reports of important announcements in
regard to the impending developments in
the bituminous coal trade attended the
movements in Norfolk and Western
Chesapeake and Ohio, and Baltimore and
Ohio.
Among the less active issues st. Louis
and San Francisco was conspicuously
firm. Outside of the railway list active
interest was virtually confined to the
United States Steel issues. Sugar Re
fining opened weak on the announcement
of the threatened new competition con-
tanned in this mornings papers, but the
subsequent dealings in the stock were
light.
The London market exercised nothing
more than a nominal influence in the To-
cal dealings. Other routine features of
the days situation were the returns of
railway traffic submitted, the continued
ease in money. and the materially firmer
market for sterling exchange.