Evening star., 1901-07-29
The Conditions ALI Seem Favorable
for Better Showing.
DUELNESS At THE CLOSE TODAY
Traders Sold Some Stocks Which
Unsettled Prices Slightly,
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. July 29.-Favored by the re-
ports OF rain throughout the corn belt and
the probable settlement of the steel strike.
today's stock market presented a very
steady tone. London sent over q higher
range of prices and was more optimistic on
the outlook for prices as the result Of the
changed weather conditions.
The volume Of business Is extremely
small and the market is largely profession
al in character. There Is no public de-
mand. but commission houses, as a whole.
are more likely to advise buying on de-
clines than to recommend selling rallies.
Money is cheap. the banking situation Is
healthy and these are factors which go a
long way in influencing the minds of the
more conservative element.
1t has become fashionable to ascribe the
rallies in the market to the covering of
short contracts, but with a few exceptions
the short interest has been overestimated.
There was no pronounced rush to buy at
the opening Of today's market. as would
have been the case, In view of the over
Sunday news developments, had there been
a large short interest to stampede. The
steel stocks were higher. and few Of
the western railways reflected an i'm
proved demand, but the buying was de-
lfberate in every instance.
Round amounts Of both Steel issues were
bought by prominent firms. and the settle
ment Of the strike was discounted In the
new prices. Union Pacific and Atchison
were bought for both accounts, and ad-
vanced very naturally under the demand.
At top prices the stock of both was sup
piled In quantity sufficient to cause q loss
of nearly all of the initial gain.
St. Paul reflected the same quiet and con-
fdent demand which has been previously
commented upon. Some strong interest is
in Snit of ho do
mails that no deal is contemplated. Mis-
souri, Pacific and the Gould issues rallied
slightly. but there was no special demand
for them outside Of the clique heretofore
identified with their advances
The Coal stocks were all strong under
limited dealings, and surface indications
continue to favor this group as ultimate
market leaders. Some new buying in the
interest in the Pittsburg coal consolida-
tion was revived The settlement of the
steel strike would pave the way for the
coal deal. it was said: There was good
buying of Norfolk and Western, Chesa-
peake and Ohio and numerous smaller
lines.
The industrial list as whole reflected
the movements of the general market, the
Independent steel stocks gaining some
thing from the strength Of the United
States issues.
The gas and traction stocks are In favor,
but the situation is not wholly in harmony
with the attempt to advance prices by
manipulation.
Dizziness became pronounced during the
final hour and an irregular decline set in
under the influence Of selling by traders
A few stocks were picked up by commits
sion houses, but the atmosphere of the
street was suggestive of complete indiffer-
ence. Stocks are in the hands Of the in
terests who are now away from town. and
there is little prospect for higher prices or
much business until such interests prepare
to lead an aggressive campaign in order
to arouse the dormant public interest