The Washington times., 1901-08-29
AN ERRAFIC MARKET RULES
Changes in Stock Movements IT.
regular and Sudden.
Some Fair Advances Scored In the
Railway List. But Are shaded
Later in the Dny-A Slight General
Tendency to Recovery Evident.

NEW YORK, Aug. 2S--Price movements
in today's stock market were exceedingly
IRE ocular. fractional advances and equally
limited declines following upon each other
throughout the course OF the business
session. After yesterday afternoons vio-
lent reaction in the local market it had
been quite commonly expected that a
much tower range of prices would have
been furnished from the London market
on the contrary. however, American
stocks were shown in the quotations at
substantial gains from yesterdays final
prices and with the opening of business
here foreign houses appeared as buyers,
taking about 25.e00 shares on balance.
Chiefly on account OF these circum-
stances the market opened steady and
fairly active but almos. Immediately re-
lapsed into the noted irregularity that
characterized the days dealings. The
trading also fell away materially in vol
ume after the opening. business being re-
stricted both by the pending protracted
suspension of business and by uneasi-
ness respecting the immediate monetary
outlook. The money market was, indeed,
rather firmer and more active today, but
its tendencies were readily enough eN-
planned by the ordinarily increased de-
and to the approaching three days sus-
pension of business.
There were additional transfers of cur
rency to the West through the local Sub
Treasury today, and the latter institution
made further gains in its dealings with
the associated banks. Sterling exchange,
on the other hand. was decidedly weak. a
feature of that market being a material
increase in the offerings of commercial
bills The remainder of the days rou
tine developments We're limited to returns
Of railway traffic, which for the most
part were very gratifying showinSs
Broadly speaking, the market showed
slight tendency toward recovery from
Saturdays sharp reaction. but its super
fetal tone was as noted. highly irregular.
The trading continued most active in the
railway list, and most of the extensive
movements took place in that quarter OF
the market.
The Industrial division was generally
firm. with the exception of Sugar REIN
ing. the Steel stocks naturally responding
to the more encouraging adNices respect
ing the status of the strike.
With the course Of the day there were
some quite extensive advances occasion
ally noted in the railway list, but none
of them was fully retained. Texas Pa
cific shot up very rapidly in the morning
session, and Missouri Pacific and the
other so-called Gould stocks were sym
pathetilally firm. The strength of Texas
Pacific was thought to be largely based
upon the idea that in the unification of
the Gould system. which is generally be-
lieved to be contemplated. the property
would be particularly benefited. The
movements in st. Paul Union Pacific,
and Southern Pacific continued quite er-
ratio. The active dealings in St Paul. 1t
is hardly ne cesSary to say, continue
wholly governed by the divergent notions
n raft nf n no pi1
upon that stock next month. But South
ern Railway and Louisville and Nashville
were fairly steady, and the anthracite
coal stocks were firm.
little was done among the local trac-
tiOn issues or the so-ca.led specialties
The Republic Iron and Steel issues were
notably weak features in the last named
group, on reports that the company's an
nual statement would not show net earn
ings equivalent to the dividends now be-
ing paid.