Evening star., 1901-08-28
Good Demand for Texas and Union
Pacific Shares.
BASED ON EXPECTED MERGERS
The Room Relapsed Into DuIInes.
at the Close.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star

Special Dispatch to The Evening Star
NEW YORK, August 2S.-The market for
railroad securities was again irregular un-
der a mixed volume of business. In which
the professional element was conspicuous.
London sent over a higher range of prices
for the active list, but did little actual
trading on this side.
Some good buying was reflected in the
Southwestern issues. Texas Pacific espe-
cially showing the effects of a good de-
mand. Influential cliaues have been buying
the last named stock for several days re-
lying upon good earnings to give IL an ad-
VantageouS position in the Southwestern
merger. Union Pacific and Southern Pa
cine were active, but irregular.
Much comment was heard as to the i'm
Pcrtance or the next meeting of directors
OF these companies. and the buying was
called good in spite of pool liquidation One
or two OF the minor Hartman properties,
chicago Terminal for instance were re-
ported as being upon the verge of inter-
esting developments
The coal shares moved about with some
degree OF irregularity. but sentiment Is
strongly favorable to an early advance.
Erie and Reading are taken uberally
upon all concessions, and the buying of the
former Is especially significant Some plan
.or tne elimination of the second preferred
STOCK Is said to be approaching maturity.
The buying of Amalgamated Copper con-
tinues to attract attention and seems to
have some definite development in view in
spite OF the denials as to an important
copper combination. One rumor Which
seems to possess a fair amount OF proba-
pLity indicates desire on the part OF the
copper company to absorb the American
Smeitfng Company.
The latter company is prosperous and
mas reached point where dividends on
the common stock possible. AS the
companies are both included In the So
called Standard on group closer relations
between them might easily be arranged
The annual meeting Of the Smelling Com
pany occurs within a fortnight and an
encouraging statement OF earnings may
De made. The street recognizes the pres
ence OF unusually attractive speculative
material in this situation, and is carefully
watching developments in consequence
The steel stocks were strong but not
specially prominent in the trading All the
routine news Of the day was In favor Of
the companies, and an early settlement OF
the difficulty. The settlement of the strike
huence upon properties only sentimentally
concerned. Many plans of consolidation
and the refinancing of companies and the
Issuing of rights all hinge upon an early
settlement of the strike.
Stocks are generally well held and will
not, perhaps cannot. be distributed until the
plans now In contemplation are carried in
10 erect This fact encourages confidence
IN at least one more period of buoyancy
Ioday's market relapsed into dullness duH
Ing the late trading, and there was little
or no commission business
Ihe holidays from Friday to Tuesday
nave tendency to discourage new UNDER
taKings and suggest continued dullnsss
during the balance Of the week.
The currency movement to the interior
continues upon considerable scale. The
country banks are drawing upon this CEN
ter freely and an active money market Is
not unlikely. With London getting around
apprehension in the outlook for an active
money market.