Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-08-20
Stocks Were in Better Demand Cd
Wall Street Today.
LONDON STARTED TIE BUYING
The Standard Railway Shares Had
the Preference.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, August ao-Opening prices
this morning were generally steady and
held we'll throughout the morning under
a small volume of business London sent
over higher range Of prices, but sold
more than she bought In the local mar
ket. There was good continental de-
mand for the Pacific shares, and some
good local buying went into this group.
Union Pacific was given the preference,
the buying coming from influential sources
and was said to be based upon prospects
of favorable inside developments
One rumor which had some weight pre-.
dicted the early issue Of rights as a parts
or the plan for financing the Northern Pa.
cthc purchase. Developments in the mat.
ter of the selection of a new president fo1.
Southern Pacific. with the prospect of such
selection being made to cover both that
road and Union Pacific, are promised in the
near future. These stocks are being care
fully watched by the commission house fol-
lowing as something out Of the ordinary in
expected once the market gets under way.
southern issues were again in splendid
demand and had the usual advantage OF q
favorable exhibit of earnings. The com.
mon stock was literally traded in by con.
servative houses and reflected a very con.
hdent demand. The buying of the high.
6Idue STANDARD SnareS was called good and
came from commission houses. Here and
there covering purchases We're numerous
put there was little effort to force covering.
The traction shares gave evidence of a
new demand, which seemed to come from
inside sources. There was little I'm this
movement beyond the fact that good earn
ings and short interest were disclosed
simultaneously, and effort was made to
take advantage of the fact
Sugar was marked up moderately under
mixed demand and the industrial list as
whole reflected steady undertone
News from the steel strike was mixed In
character and void of new features So
long as pacific means are used the con-
test is likely to drift along without serious
influence on the stock market. Hostilities
and an increased display of force would be
distinct setback to any favorable de-
velopmentS now in prospect.
Cautious but persistent buying of the
coal shares continues to be in evidence and
this group is counted upon to figure con-
spicuously In the next advance. Erie and
Reading among the hard coal stocks and
Norfolk and Western in the soft coal sec
ton seem to attract the best demand.
The subtreasury was debtor at the clear
ing house Sl,So2.OOO, the bulk of this
amount being for Australian gold deposited
at San Francisco. About 50, .OO.0OO addi-
tional Is en- route from the same source
feet upon sentiment. The money market
was practically unchanged. although some
activity is expected shortly.
The market rallied during the last hour
to the best prices Of the day under an
improved demand. The Pacific stocks and
the coaiers attracted the bulk Of the de-
mand. The attitude Of the leading commits
sion houses seemed to be favorable to
higher prices without a marked gain in tho
volume OF trading Immediately.