Evening star., 1901-08-03
FINANCE AND TRADE
Indications That the Coal Stocks Will
Gain Prominence.
SELLING OF UNION PACIFIC
Steel Shares Rather Stronger Than
on Yesterday.
GENERAL MARKET REPORTS
Special Dispatch TO The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, August 3-Opening prices
this morning reflected small fractional
changes from last nights closing prices,
none OF which was significant The
steel stocks were active and higher
as the result Of yesterdays attempts to
end the strike and the conference In this
city today looking TO a definite agreement.
The railroad list was far from uniform In
Its action. some pressure being brought
TO bear on the Pacific stocks while others
were simply neglected. Union Pacific is
made heavy at every opportunity because
or the present prospect OF getting only a
per cent dividend next week
Inc constant reference to this routine
fact would indicate a desire to see the stock
sell lower The entire board is not in har-
mony with the latter view. however. ana
supporting orders ere likely to appear on
the breaks.
Big Four is being accumulated by Van
derbilt brokers on the prospect of a 4 per
cent guaranteed dividend in the near fu-
ture Very little stock Is Offering, and no
attempt is being made to force the prom
erty into prominence
The street Is uniformly Of the opinion
that the coal stocks are to be moved up
into first place once the steel at rike is act
tied. As result of this belief there ore
oaHy ADDITIONS to the long account In these
issues Closer relations between all the
coal properties are likely, and this prospect
coupled with the advance in the price of
the commodity, Is to be made the basis
Ior the proposed activity. Later in the
season the community Of ownership scheme
VIII pe revived for speculative effect The
buying Of Consolidated Gas was called
good, per cent being added to first prices
under moderate dealings
division of the company's surplus Is
said to be in contemplation, aud the specu-
lative advance In the stock, fnterrupted nv
the May panic, has been resumed
feople Gas opened up over l per cent
but failed to hold its gain st. Lawrence
ana Aolrondack gained per cent under
pool buying. The movement in this prom
erty has never been contested and has
peen unusually successful in consequences.
speculative demand for the leather
snares forced an advance IN prices, bat the
movement had little of a substantial ma
ture behind 1t. Room traders had monop-
stocks.
The bank statement reflects an Increase
Oh io,S53,5OO In loans as the result OF some
special transactions outside of the stock
market routine. The gain Unlawful money
during the week has been S2275,OO mostly
III specie The gain In money and the in
crease In loans are reflected by an increase
OF Sl2,o13,1OO In deposits. This latter in
crease calls for larger reserve and the
surplus reserve is reduced S963, ,225 The
SouSeo sumo atilin8 In various
parts OF the room during the final dealings
ana closing figures were under the best
IN practically every instance
Inc market at the end of the week has
aoded nothing to its good features. and a
decline is more than ever likely to precede
an advance. Next week should see an end
or the deadlock in the steel strike, but the
august crop report. not due until next Sat-
uroay. VIII hang over the market and deter
buying. even should 1t fail to inspire sell
Ing. The interior demand for money may
arise within a few days also and will in
spire caution. The vacation season will
contribute to the inertia. and commission
houses must remain In the background for
further indefinite period. In view Of these
facts. positive incentive to buy 1s wanting
ana selling Is restricted only by fear.