Evening star., 1901-08-09
Short Covering Helped to Sustain
Price of Stocks.
THE INDUSFRIALS WERE NEGLECTED
investors Are Disposed to Await
Strike Developments.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, August 9-The opening
hour this morning was given over to a
further covering Of outstanding short con-
tracts. Chicago was a buyer and London
reported continental demand for the Pa
cifc issues. Commission houses had some
buying orders, but the tendency was to
proceed cautiously over the end OF the
week.
General conditions are ENCOURAGING and
prices have little to contend against out
SIDE OF the steel strike and the government
crop report.
1t Is believed that the worst Is known
concerning the evils Of the drouth in the
west and that the market will be relieved
TO have the government confirmation out
or the way. In spite Of the covering of the
last few days a considerable short account
Is open In Union Pacific, Atchison and st.
Paul. There were some indications of in
creasing nervousness on the part Of this in
terest today. but 1t Is fair to assume that
a considerable portion of the account will
be carried over Sunday.
News from the steel strike was mixed
and there was less interest displayed In the
steel shares. Both sides are making con-
hdent claims. but financial interests lean
panles. There Is at least fair prospect
Ior the company opening up its mills nom
union next week, just as 1t has been doing
during the last few days
& Inc stocks have needed less support than
usual during the last two days and some
new buying has allowed the supporting in
terest to market it's cheap stock thus ma
teriaily strengthening its capacity for fu-
ture assistance.
The Gould stocks were taken In hand
curing the morning under the leadership
OF Missouri Pacific. All Of the southwest
ern snares were marked up under mixed
demand. and held the advance fairly we'll
Ihe buying OF Mexican National and Mex
lean Central was again conspicuous
The Vanderbilt group was active, the
Nickel Plate issues particularly attracting
a good demand. There was again little
outside of present earnings and the
rumors of important inside plans which
have been heard for some weeks to explain
the movement. The anthracite coal shares
morning, but the time Is not ripe for the
main movement in these shares.
The stocks are well bought on all de-
clines, and there Is no lack Of confidence In
the ultimate result.
The Industrial list Is not so popular as
the railroad department just now, the labor
troubles being more likely to affect It. A
few of the Independent steel companies are
doing well. and may attract the attention
OF the United States Company as dangerous
competitors once the latter company Is suf-
hciently foot-loose to look into outside
matters.
preliminary figures indicate that the
banks have gained something over 81, 2,OOO,-
OOo In cash during the week, the greater
part OF 1t from the interior. The gain
through subtreasury operations has been
about $475,000. Unless loans have again
expanded materially these figures indicate
q favorable bank statement. The money
market. however. is satisfactory and the
course OF prices is not likely to be retarded
by immediate developments in that quarter.