The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-08-08
HOLDING THEIR OWN
STOCKS SHOW MARKED STRENGTH
IN THE FACE. OF THE
STEEL STRIKE -
GAINS SHOWN FOR THE DAY
Volume of Trading Somewhat Light
Than ON Tuesday, but Bears
Were Unable to Hani-
mer Prices
Closing.

Wed. Tues.
Cali money, New York -, .4.2-2k < 2-2Als
NEW YORK, Aug. 7.-Business today
was on a reduced scale and there was a
more general disposition to curtail opera
lions pending the settlement of the steel
strike. The announcement over night of a
general extension of a strike order caused
some hesitancy at the outset in the gem
eral market, but aside from a sharp dip
at the end of the first hour and again
toward the close, the tendency was dis
tinctly upward throughout. The final
prices were about the best for Atchison
st. Paul, Union Pacific and Southern Pa,
cific, which accounted for the most ac-
tive dealings in the railroad division. Re-
ports have been current for several days
past of fixed price below which United
States Steel stocks would not be allowed
to break by the alleged pool behind the
stock. This level was exceeded earlier III
the week and spectators generally were
interested in watching the opening in the
stocks this morning. When 5000 shares
of the common came out on a scale down
to 5S5s and figure was made of SO for
the preferred, representing losses of q;
each, support was Immediately forthconn-
ing and rumor gained currency that
the level for today was fixed at 1894 and
SO respectively.
Professional operators made but feeble
effCr,s to depress the stocks in the sub
sequent dealings and were more inclined
TO bid up the general list on the theory
That the backing TO the steel issues would
have a sustaining effect on all other prop
critics Whether this SuppoSition was cor
rect or not, or because the short interest
had been unduly extended to the railroad
list, the fact remains that all of the
grain-carrying roads showed conspicuous
strength at various times. No doubt the
grangerS were helped by the rise Of about
a cent III wheat, but Atchison's improve
ment could not be directly traced con-
SiStently to the fluctuations in corn which
was higher. Business in the United States
Steel stocks was on even a smaller scale
than yesterday, but they moved pretty
steadily upward, touching .4GA and 80 re-
spectiveiy and ended at the highest of
the day A number of minor railroads
made somewhat sensational advances,
the extreme rise in Lake, Erie & West
ern common and preferred being SOLO
Iowa Central common and preferred 31a@
512. and st. Lawrence s. Adirondack 63s
No news attended the upward movement
in these stocks, aside from the placing
of the latter on a per cent dividend
basis Industrial stocks, aside from Sug-
ar, We're without any special change and
the fluctuations in evenathat stock were
within comparatively moderate limits.
Some weakness developed early in the
coalers on talk of renewed dSsatisfac-
ton among mine workers, but their losses
We're Cancelled later on, except for Lack
aWanna, which ended points off. None
tary conditions were unchanged, but ster-
ling exchange was stronger, demand bills
prospects for gold shipments this week
to Germany. In the closing dealings
prices were on the upturn again and the
ending was very firm
Railroad bonds were quiet and some
what irregular. Total sales, par value,
81, 140 eco. United States bonds were all
unchanged on the last call