Evening star., 1901-08-08
Stocks We're Stronger on the News
From Pittsburg.
SHORTS WERE FORCED TO COVER
Railroad List Was Strong on Late
Crop Reports.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch TO The Evening Star
NEW YORK, August S-The buying of
the last two days in the railway list and
the splendid support In the steel stocks re-
suited in free covering OF short contracts
this morning. Prices advanced substan-
TALLY In numerous instances and sentiment
changed noticeably in favor of the long ac-
count This change was confined largely
to the ROOM the market Is still In the
hands Of professional traders, but 1t is
significant change. nevertheless.
The strike news was more encouraging
to the employers, and each day seems 10
add something to the strength OF their DO
sition The reopening of other mills un-
der non-unton auspices has a tendency to
weaken confidence among the strikers and
to detract from the limited sympathy ex-
tended to them. The street argued that
the end of the trouble was being hurried
by the days developments.
Inc steel stocks We're strong under
good demand, the common gaining 3 per
cent and the preferred per cent from
yesterdays prices. fair short interest
was forced to cover on the advance.
Private advices from the west urged
caution in the acceptance of the prevail
Ing opinion that only a small number of
new men will obey the strike order If
the order is operative on Saturday liberal
ADDITIONS will be made to the force of idle
men, it Is said.
Present indications are that about the
worst of the strike is known unless vio-
ience Is resorted to. Future changes.
however, should be for the better.
The covering OF the Granger shares,
which was the feature of the transactions
In the railroad list was helped by reports
that the monthly crop report would be bet
Ter than originally expected Union Pa
cffic, Atchison and St. Paul were all ad-
vanced under good demand in which
western houses were conspicuous
The meeting OF the directors of the for
mer company declared the usual dividends
on the common and preferred shares, and
the action failed of any reflection in prices
The showing made at the meeting was sat
isfactory, and shareholders are convinced
that an increased dividend may be ex-
pected at later date The buying Of the
junior Vanderbilt issues was again some
thing of a feature Of the days market
The buying of Big Four was good. and
rumors of per cent guaranteed dividend
or a collateral per cent bond were re-
ceived. The Nickle Plate Issues had large
earnings, and rumors of plan for more
liberal treatment by New York Central to
help them to higher level.
Iowa Central and Colorado Southern is
sues were In good demand, and rumors Of
closer relations with other properties were
heard.
Mexican Central and Mexican National
were taken by brokers Identified with the
management, and both properties were re-
ported to have entered into an agreement
for more harmonious action in handling
southwestern business.
There are numerous matters Of import
ance just under the surface which are
kept back by the steel strike. The anthra-
cite coal shares are interested in plan
for closer relationship, and the soft coal
properties are in a similar condition The
strike intimately concerns these properties
however, and progress is necessarily re-
tarded.
The money market is easy, and there is
no concern on that score. The removal of
the present labor uncertainties and the
ending of the vacation season are the real
causes Of the present tendency to mark
time throughout the speculative markets.