The age-herald., 1901-08-12
STOCK PRICES
 ON THE DECLINE High Prices from London Was Short Lived Stimulant RENEWAL OF ROOM SELLING 
 intrest In the Government Crop Report and Prospect of Important Strike Developments Caused Diminu-
 ton of Business.
RE NEWAL OF ROOM SELLING

New York, August 1o.-High prices from London were reflected in a fairly good j time for railroad stocks at the opening, but small gains were soon wiped out ana a prices dipped well below yesterdays close for important stocks on renewal or pro fessional selling. The interest excited In the government monthly crop report and the prospect of some important develop ments on the strike situation next week caused some large elimination In the volume of business. The paucity or the demand helped to increase the downWaro tendency, which was most marked In the Changers Pacifics, Coalers and South western Missouri Pacific and kindred stocks were influenced by oenlals ol re- cent reports of the impending absorption of the Mexican railroads. AS on the two preceding days Missouri Pacific spurted up sharply at the close the tinal fgure today bringing 1t to yesterday level But little of interest attended the fuctua- tions in the United States Steel stocks, their movement being only fractional but indicating better support for the common than for the preferred, the latter endlng 3s lower The bank statement while less favorable than anticipated was without any decided effect on the market The increase in loans of S,94S,000 was not readily explained and it decreased sur plus holdings s1, ,11, 400. The closing was irregular and almost lifeless. These con ditions reduced public operations ana P from day to day fluctuations represented only the character of the pro1essiohai views. Liquidation was on large scale on uneasiness as to the possible rainlhca- tions of the steel strike and crop scares' Discussion of the effect on general busi- fa<y tha the wage earner and farmers in the event of their condition becoming critical was a factor in limiting general speculation Large amounts of the United States Steel issues come on the market, but the actual declines were less than when the rupture first occurred weeks ago This circum- stance was ascribed to the formation of an alleged pool who were prepared to take enormous amounts at fixed prices.
 The known conditions rendered profess ionals chary of attacking the stocks, the possibility of an early termination of the strike and the consequence of squeeze being weighed Nevertheless their re- covery from the low point when various plants resumed work was checked at times by "infiuentiaf' selling. Consistent support was lacking for other stocks and speculative favorites, such as Sugar, St. Paul. Atchison, Union Pacific and South ern Pacific covered a wide range either way freduentiy, Pessiinfstic views re- garding the damage to the crops which had hitherto made large inroads on prices of the grain carrying roads were not borne out by the tenor of the late ad- vices. Reports of copious rains remedied conditions somewhat and the improve ments noted by the weekly crop report caused a modification of alarmist reports. Stock prices then reflected an apparently oversold market. Operations for the long account, however. were conducted with caution, traders taking profits quickly and being content to await the monthly showing. General properiety represented in a large part by the agricultural yield and the prices obtained fluctuations in the grain market were watched closely and stocks conformed pretty closely to their variations.
 Bonds on the day and during the week, were without noteworthy changes. The new and old United States issue keeping quiet.
 New York Stock Market.
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