Evening star., 1901-08-29
Buying Of Erie Was the Feature To-
day in Stocks.
GOULD ISSUES In DEMAND
Southwestern Deal Expected to
Go Through Soon.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. August 29-The deterrent
influences OF the triple holiday were again
in evidence in today's stock market. The
volume of business was restricted and
there was little commission-ho inquiry.
Traders were disposed to cover outstand-
ing contracts. and there was no signIr-
cant liquidation. An irregular price level
and steady undertone resulted from these
conditions.
Erie stocks were advanced rather sharply
within fraction of their best record, and
the most confident demand In the entire
market went into them. The outlook for
this property is excellent. and the fact is
recognized by influential people having the
experience, marketwise. to make the most
of 1t.
The Pacific shares were only steady but
there seemed to be good supporting orders
under them.
The lack of a quorum prevented the
much-discussed meeting of Union Pacific
directors yesterday. but this fact caused no
concern among the larger holders Of the
stock
The Gould stocks are growing in favor.
the victory for the Wabash in Pittsburg
and the progress being made upon the
southwestern plan generally attracting a
good speculative interest to the group.
There are numerous indications Of a reviv-
ing speculative interest, but there IS al
ways some good reason for delaying action.
The holidays are now credited with the
delay and after them the money market
may be made factor. Just at present the
money rate Is wholly reassuring. and there
seems to be no occasion for expecting any
thing more than active borrowing de-
mand this fall. Should the local supply
decrease at all. the conditions favor q re-
turn gold movement to this side.
The sentimental effect OF an inflow of
gold is perhaps double that of a movement
from domestic sources. With this prospect
in view the attempt to depress prices may
be Intellectual. but the attempt seems rea-
sonably certain Of appearing within
month or
The steel strike is going slowly into the
collapse stage, and the elimination of that
episode is confidently expected at an early
date.
Advices from the west today indicated
revolt in sentiment among the men them
selves and a general tendency to regret
having gone to Issue upon such untenable
grounds. The United States company Is
seeking to create the impression that its
fight is merely against irresponsible organ
lied labor. and not against the best forms
of protection open to their employees.
The report of the Republic Steel and Iron
Company issued today reflects a decrease
of about 81 900, 900 In surplus and confirms
recent advices that the showing would be
unfavorable. The selling of the stock had
preceded the statement and little attempt
at depression was made. =
American Smelling was sold down rather
freely during the morning. but around SO
supporting orders came in and rallied the
price slightly. From the character OF the
decline 1t would seem that the selling had
been undertaken as a preliminary move-
ment to future advance.
Recent activity in Colorado and Southern
was explained today by rumor that Mis-
souri, Pacific and Union Pacific would joint
ly operate the road. Heretofore the Gould
property alone had been credited with this
intention.