The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1901-08-08
WILL STREET STOCKS
Strike Situation Causes Some
Hesitancy at the Outset.
MARKET Is ADVANCED
Final Prices Were About Best
for Some Railroads.

New York. Aug. THE announcement
over night OF q general extension OF the
strike order caused some hesitancy at
the outset in the general market, but
aside from q sharp dip at the cEd Of the
first hour and again toward the close the
tendency was distinctly upward through
out. The final prices were about the
best for Atchison, St. Paul. Union Pacific
and Southern Pacific. which accounted
for the most active dealings IN the rail-
road division Reports have been cur
rent for several days past OF a fixed price
al which the United States Steel stocks
would not be allowed 70 break by the al
legged pool behind the stock. This level
was exceeded earlier in the week and
spectators generally interested IN watch
ing the opening in the stocks this morn
ing. When $3.50 shares OF the common
stock came out on a scale down 70 Ssas
ard a figure was made OF Sc for the pre-
ferred, representing losses OF 3 each.
support was Immediately forthcoming
and q rUmor gained currency that the
level for today was fixed ~ IS. and So
respectively.
Professional operators made but feeble
efforts 10 depress the stocks IN the sub
seGuent dealings, and were more IN
clined TO bid UP the general list on the
theory that the backing 70 the steel IS
sues would have a sustaining effect on
all other properties. Whether this sup
position was correct CT not, because the
short interest had been unduly extended
IN 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 q cent IN wheat, but Atcn-
tsoa's Improvement could not De directly
traced consistently 10 the huctuauon II
corn. which was higher Business IN the
United States Steel stocks was on an
even smaller scale than yesterday, but
they moved pretty steadily upward.
touching k9a. and 81 respectively, ana end
ed at the highest OF the day
A number of minor railroads made
I somewhat sensational advances, the eN-
IRENE rise IN Lake Erie and Western
common and preferred. peing Sglo, Iowa
/ Central common and preferred si-aSia,
and 81. Lawrence and Adirondack 6-s-
No news attended the upward movement
in these stocks aside from the placing
of the latter on a 5 per cent dividend
basis. Industrial stocks, aside from So
ear. vera without any special change,
and the fluctuations in even that stock
we're within comparatively moderate I'm
/ its Some weakness developed early N
the coalers on talk Of renewed dissatts-
7 faction among mine workers, Dut ths4E
/ losses were cancelled later on, except FOR
/ I.ackawanna, which ended seven points
of. Monetary conditions were unchang-
ed. but sterling exchange was stronger,
demand bills being held risidly az = -.
/ There are no prospects FOR sold ship
ments this week 70 Germany. In the
closing dealings prices were on the up
! turn again and the ending was very firm
| Railroad bonds were quiet and some
VIVA. irregular. Total sales, par value,
/ S1140,000.
United states bonds were all unchanged
on the last call.