Evening star., 1901-08-26
FINANCE AND TRADE
Strong Opening Of Stocks Followed
by Reaction at Close.
ERIE ISSUES WERE THE FEATURE
Some Indications of Public Inter
est in the Street Again.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. August 28-Opening prices
this morning showed advances over Sat-
urday's closing level, as the result Of a
welI-distributed demand. In which an in
creased public interest was noticeable. Lon
don sent over range OF prices nearly at
a parity with the local closing level, but
was not factor in the trading.
The Erie issues were Well bought by
strong interests and much favorable COM
ment was heard upon their prospects. The
two preferred stocks gained substantially
under a conservative demand, the common
sharing literally In the process. Reading
issues were strong, but failed to attract
the attention necessary to q material gain.
Ontario and Western was strong and Penn
syivania reflected q splendid inquiry from
significant sources.
The anthracite coal stocks were the lead
ers of the market as a group. but the trad
ing was by no means confined to them.
The Pacific issues were strong at SUBJ
stanual gains from Saturday. Southern
Pacific had the advantage Of a strong pool
and responded easily to liberal purchases
Union Pacific attracted a demand which
seemed to come from the inside and stress
was again laid upon the rights to be
issued.
1t Is thought the financial announcement
incident to the Burlington transaction will
be made within few days and the varf-
Gus parties in interest will notify their
Sha reholderS
Southern railroad shares were all higher,
and the various Gould issues seemed to
find good market. The railroads in this
latter classification are regarded as likely
subjects for good news during the coming
season.
Amalgamated Copper was marked up
during the morning under an Inside de-
mand In which manipulation was pronoun-
ced The steel stocks were taken in round
amounts at advancing prices as the result
or the encouraging strike outlook. The
ability of the companies to resume opera
tons and the conciliatory attitude of the
strikers were taken as sure indications Of
early settlement. The approaching end Of
the vacation season is factor of some sig
nificance and brokers report gradual re-
turn of clients.
If the public can be interested in the
numerous transactions which remain under
the community of ownership plan there
would seem to be little in the way Of a
higher market. Just at this time, how
ever, the increase in public interest has
not reached the proportions necessary to
this end
The reaction due to profit taking, around
delivery hour today was both sharp and
substantial.
The easy concessions indicated clearly
the speculative character Of the advance.
Traders were free sellers Of the active
list, and the buying Of the morning seemed
to have run itself to the point OF exhaus-
tion. Numerous false starts are not un-
likely, and haste to assume obligations
may well be curbed for another fortnight.
The reactions should find good buying
orders in the market, but immediate ad-
vances are likely to increase the supply
of stocks. Commission houses are strongly
on the side Of the latter policy.