Evening star., 1901-07-27
Steel Stocks We're the Feature of To-
days Market.
EARLY ENDING OF STRIKE PREDICTED
Western Railroad Shares Stronger,
With Better Crop Reports.
"A q ION N S p r z d

Special Dispatch to The Evening Star.
NEW YORK. July 27.-Today's market
centered largely in the steel stocks, sub
stantial advances and a liberal volume of
business being recorded I'm both issues.
News of the strike situation seemed to
favor the company and an early ending Of
the difficulty is promised. Inside informa-
tion was at variance with the press re-
ports in this particular, but the large buy
ing Of the stocks would indicate the pres
ence of some secret understanding as to
what will happen early next week. The
preferred shares advanced over per cent
and the common about IN per cent under
orders for 10000 to 1900 shares at a time
The display of confidence discouraged
selling elsewhere and resulted in firm
closing throughout the general list around
the best level OF the day The crop re-
ports were more favorable. and western
railroad shares gave some evidence of in
creasing strength. st. Paul was especially
strong, the buying being persistent and
void of all attempt at display. Union Pa
cific held well slightly under par but stock
seemed to be supplied above that figure.
The coal stocks were firm under limited
dealings. the several pools in them making
little effort to force advance. The
street continues to believe in this last
named group as reasonably safe risk
are dull and neglected. The fate of tho
crops in that section and the probable fric-
tioE incident to the Wabash ambition to
get into Pittsburg and thence to the sea-
board, inspire caution. Later there may
be considerable activity but the present
attitude of the inside interests Is too vague
to follow:
The success Of the community Of owner
ship scheme makes 1t imperative to ap-
pease Wabash and the Gould Rockefeller
faction. and Wabash issues are likely to
figure prominently in the fall business. In
like manner there are several small prop
critics which must be disposed Of in the
near future. not because Of any real worth,
but rather because of their capacity to dis
turb traffic. market of special move
ments is therefore likely, and under cover
of such attractions many of the older IA
vorites may be liqudated.
;. Enthusiasm is not in the market and
there Is no public. The weeks record of
sales proves the latter statement. and
the net charges since last Saturday verify
the former. Conditions have improved dur
ing the week and there Is less uncertainty
to undermine confidence The bank state
ment reflects gain of $3,O475o0 in lawful
money. an amount generally expected as
the result OF the known movements of cur
rency during the week. An increase of
$l.454,9OO in loans was an unexpected de-
yelopment and caused some profit taking
Tor few minutes following the announce
ment.
This increase is due largely to the fact
that the First National Bank has carried
$JOO0O0 of its increased capital in its loan
Item. The presence Of this also
plains the discrepancy between the various
other items Of the statement. The actual
Increase in loans in the regular course OF
the weeks business has been less than
s2.OO0OOO The deposits have increased
1873 200 and the net result Of all changes
in an increase of 81 $50 2O0 in the reserve.
The total reserve holdings above legal re-
Quirements is now S23 12s,515. The none
tary situation has improved during the
month and the hope is entertained that the
banks will increase in strength still fur
ther before the fail demand from the in
terior begins in volume.