Evening star., 1901-07-30
FINANCE AND TRADE
Dullness and Inertia the Chief
Features in Stocks
BAD BREAK IN UNION PACIFIC
Caused by Heavy Liquidation of
Big Syndicate.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK. July 3O.-opening- prices
this morning were generally steady around
last nights closing parity. There was no
significance In any of the subsequent deal
ings. the market being almost wholly pro-
fessional and void Of public interest.
Ruuors OF various kinds relative to tho
progress being made In the steel etrike
settlement were freely circulated and had
a passing influence on prices in all parts
Of the list.
The best opinion seems to be that the
banking interest does not want higher
prices at this time. and that the street
lacks the courage TO undertake a short
campaign. Prices move about easily within
q narrow range and fractional changes
serve to give the market direction.
Trading In the steel issues was liberal In
volume, and surface indications pointed to
a desire to take profits on a considerable
line OF speculative long stock. 1t IS to be
expected that profit-taking will follow the
positive announcement of a settlement
The only element Of surprise likely to be
disclosed In the final announcement is a
greater measure of success for the steel
management campaign than press dis
patches have indicated.
The selling of Union Pacific broke the
price sharply at one time. and the impress
sion prevails that some important interest
has iquidated recently. At the same time
Southern Pacific and ST. Paul have been
well bought by strong interests closely re-
lated to Union Pacific The buying of the
coal stocks was said to be good in rharac-
ter, and temporary advances were recorded
in Erie and the Reading issues
The advance in coal prices next month Is
relied upon to advance prices In this group,
but the long-deiayed movement In the coal
shares Is in need Of the same public in
terest which Is lacking In the general list
Inside interests may start an advance but
II cannot run far under present conditions
Some activity in Pacific Mail attracted at
tentton because Of the sources from which
the buying seemed to come.
There were reports Of important inside
developments In the near future, but no
definite Information was supplied. Anal
gamated Copper was advanced during the
morning. but sold of later in sympathy
Predictions Of an important advance in
this property have been in circulation tor
some time, but thus far every start In that
direction has invited selling.
ments In the market In spite Of the dull
ness, but there Is little prospect of any
pronounced swing in the whole list or In
such a proportion Of the whole as will
give character to the daily business.
Labor troubles, crop disappointments and
trfbutsd to dullness and a desire to see The
market supported rather than made active
in either account.
Commission houses. except such as rep
making little effort to force business Mean
while the business of the country Is going
forward and money Is being made by the
corporations whose securities are dealt In
on the exchange. Far-reaching plans are
being perfected and the overtaxed diges-
tive apparatus of the financial world Is
resting. Barring accidents the inertia
should make for future good