The age-herald., 1901-08-14
STOCK TRADING
 ON SMALL SCALE Some Strength But General Movement Continued Irregular FIRST PRICES TOOK A DROP When Demand Arose From Eastern Track Lines and Bituminous Coal
 Roads the Entire Market Rallied Sharply.
FIRST PRICES TOOK A DROP


 New York, August Robustness today was on small scale, but there was wider distribution of the dealings
 Strength was shown by many important stocks. but the general movement con- tinued irregular. The opening was high CT on a resumption of yesterday strength and good tone lead the market. The fortnightly settlement abroad was arranged satisfactorily and arbitrage houses bought more literally here than for some days. First prices were not long maintained as traders realized but when demand arose from the Eastern track lines and bituminous coal road stocks the entire market rallied sharply. Sugar was about the only notable ex- ception to todays strength, the bears lowering 1t points at one time and sell ing steadily when it rallied. There was little news of importance bearing on either the crop conditions or the steel strike and the influence was less marked. Frequent relapses in prices were made, causing the Pacific stocks to sag tempor- arily under yesterdays close. When pressure relaxed prices rallied easily and as there were large purchases of St. Paul and the Eastern stocks shorts, covered more generally in the market The i'm .provement in the trunk lines and saft coal stoks was partly due to the benefits exTec e l to accrue fl om the reccno forma- tion of bituminous coal combination. New York Central made the largest rise of 3K, but Baltimore and Ohio, Pennsyl- vania. Chesapeake and Ohio and Norfolk and Western averaged 2 points better. Minor Vanderbilt stocks sympathized with the movement in New York Central, especially C., C., c. and St. l.. St. Paul was taken in good amounts and advanced SIS on reports that there might be an increased dividend declared next month. Short buying was considered to be re- sponsibie for the improved tone of the market, but the waning influence. of the crop conditions and the steel strike was also considered Western and Paciflcs stocks followed pretty closely in the wake of St. Paul on its advance, and the grain carrying roads were helped by the heavi- ness of the grain market. The Coalers, Fractions and some of the lower priced Industrials showed good strength at vari- Ous times, the strong rise in Interna- tional Paper being due to speculations of a favorable annual statement. But little interest was manifested in the United States Steel stocks and they moved quite independently of other stocks An early rise of % in the. preferred was followed by a gradual decline, and they ended 1s better. for the common. Large payments made by the sub-treasury on account of army and navy credits and some receipts of gold at the Pacific coast points caused a loss of about s1,5O0,00 by the banks to the sub-treasury up to yesterday to be turned into gain of about as much. The stock market closed strong and at about the best of the principal of the day
 The bond market was quiet and firm. Total sales, par value s960,000.
 United States bonds were all unchanged , on the last call.