The Washington times. (Washington [D.C.]) 1901-1902, 1901-08-22
RAILWAYS REMAIN ACTIVE
The List Furnishes Most of the
Dealings of the Day.
Southern Common and Preferred
still n Prominent Feature - Steel
stocks Firm A. Trading SInckens
After Mfdday-EarIy Gains Shaded.

NEW YORK Aug. I.-No develop
ments of novelty could be cited in con-
nection with the continued Improvement
in general stock market conditions today,
hence 1t may be assumed that the tend
encies apparent were owing to a better
comprehension of the already existing
facts in the financial case The dealings
in today's market were not in particu-
larry large volume, and interest was only
indifferently distributed. The railway list
again furnished the bulk of the trading,
although there was animated trading
occasionally outside of that quarter of
the market In the railway list the con-
spicuous features were Southern Railway
common and preferred. Southern Pacific,
the anthracite coal stocks. the Atchison
shares together with st. Paul and Union
Pacific.
The dealings in Southern Railway COM
mon were exceptionally animated, and the
preferred stock likewise scored a material
advance. As has been the case since the
revival OF activity in these issues, their
tendencies were generally accounted for
by the belief that reimbursement in the
companys capitalization is contemplated
and that measures to that end are likely
soon to be undertaken. 1t seems to be
a question whether the notions prevalent
in this regard are not somewhat prema-
ture, but they still appear TO be the donii-
mating influence in the dealings in these
stocks.
The fluctuations in st. Paul were ir-
regular but the stock had a very good
undertone. Opinion seems to be becom-
ing more general to the effect that the
September dividend on the common will
be ordered at a higher figure than the
L.
day that the same interests who succeed
ed in blocking the absorption of the st.
Paul company by the Great Northern and
Northern Pacific considered that in
justice to the shareholders the company
should make larger returns to them out
of 1t. ample surplus earnings and their
advocacy of such action is not likely to
be seriously opposed by other interests in
the management.
Other strong features in the railway
list were the Wabash issues, Texas and
Pacific, and Pennsylvania. The local
traction stocks, while steady, were ex-
tromeiy dun. Among the so-called special
ties. Consolidated Gas was strong, while
Tennessee Coal and Iron advanced very
rapidly The Republic Iron and Steel is
sues were also very firm on reports that
a consolidation of the Southern iron and
steel interests was likely to be undertaken
as soon the strike Of the Amalgamat ted
ASSOCldllON Was settled lNSIe was no I
very decisive news today relating to the !
present status of the strike, but United |
States Steel, common and preferred, con- /
tinut d firm.
London again furnished higher range
of prices for American stocks and the
general market there was firm on the 4
easier monetary situation, which, it was
eXpe cted. would soon be reflected in a re-
duction in the Bank of England's official /
rate of discount. on balance, however /
the transactions in this market for for
eign account were on the selling side to
a very moderate extent.
The trading fell away materially in re-
spect of activity after midday. and many
of the earlier gains scored were materially
shaded. There were no Developments in
the money market or elsewhere to ac-
count for the reactionary tendency, which,
indeed, reflected nothing more than the
narrow and professional character of
the dealings.