Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-08-21
FINANCE AND TRADE
Good Buying Of Southern Shares by
Strong Interests.
COAL STOCKS IN DEMAND
Little Disposition on Part of
Holders to SELL
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, August 21-The buying in
| today's stock market was similar in char
aeter to that noted yesterday. and about
equally effective In results. London sent
over a higher range Of prices, but was
again liberal seller on balance, some 90
GOO shares being sold by foreign houses
The selling was well distributed, but found
| a willing market within per cent OF the
best level Of the opening hour.
The scarcity OF stock seeking a market
| is one Of the strongest factors in the pres
ent situation. There Is almost no liquida-
ton and traders hesitate to sell In view of
the plans for an advancing market later on.
Conferences between leading financial in
terests are Of daily occurrence. and some
important disclosures are likely In the near
future.
The buying Of Southern Railway securi-
ties may be taken to reflect q knowledge Of
Important developments, since IT comes
largely from sources in position to know
of the purposes and plans OF the manage
ment. The stock Offering yesterday was
quietly absorbed and further gain of 1
per cent recorded under good volume OF
business today.
Southern Pacific was again bought by a
prominent operator, and the advance was
helped, as before, by good earnings and
the dividend outlook Union Pacific sold
up to par, but reacted 1 per cent under
profit taking. Later In the day the demand
again increased and forced a rally from
the low point
The action of this stock and the steady
buying of Great Northern Preferred sug
gest interesting developments in the North
ern Pacific plan.
The coal stocks were strong, Reading is
sues attracting good inquiry, while Onta-
rio and Western gave some indication OF
reviving speculative interest.
Atchison was only steady. and no effort
was made to force the advance in that
property The buying Of steamship lines
for operation in the Pacific with the ulti-
mate prospect of a belt line around the
world, in connection with Pennsylvania,
attracted unusual attention. The project
is too big to be Immediately graSped, how
ever, and the stock Jagged somewhat.
The steel strike is losing ground as a
dominant influence. The stocks of the
United States company no longer demand
the aggressive support OF a fortnight ago
and they have gone back to a secondary
position in the market. The small sue
cesses of the week have been in favor of
the company. The determined stand taken
by the South Chicago men In defense of
their contract obligations Is supported by
such conclusive arguments as will demand
q defense from the Amalgamated Associa-
ton, 1T Is thought.
This episode has encouraged the COM
pany and has relieved speculative tension.
Sensational happenings may re-establish
the strike as dominant factor, but the
present campaign Is, in a sense, entirely
satisfactory to the street.
Money was easy and in good supply
throughout the day. Crop news was good
and individual reports OF earnings were
mostly favorable The lack of breadth 10
still the greatest factor in opposition to q
sustained advance.