The Washington times. (Washington [D.C.]) 1901-1902, 1901-08-21
FIRM DEMAND FOR STOCKS.
The Offerings Meagre Except From
Professional Sources.
London Purchases for Investment
Reflect European Appreciation of
Cereal Conditions Here and Abroad
The Railrond Shares Prominent.

NEW YORK, Aug 50-General stock
market conditions showed further inn
movement today, although there was no
material change in respect of activity.
Some slight increase in commission house
business was reported but foreign houses
today sold moderately in this market.
Seemingly the dominant infueTces in the
dealings were the clearer comprehension
of the probabilities of the monetary stu
alton and also better appreciation OF
the position this country is likely to oc-
cupy in the worlds market for bread
stuffs, Notwithstanding the conceded i'm
pairment of. the corn crop. Trustworthy
authorities are now disposed to raise
their estimates OF the eventual outturn OF
the wheat crop to SO. 900 eco bushels, so 1t
is evident that therein lie vast potentiall-
ties Of wealth in view of the assured
large and continuing demand for that &C.
real,by reason of the European shortage.
Foreign spectators appear to appre-
ciate the international agricultural sltua-
ton somewhat more clearly than New
York operators in securities. circum-
stance reflected in the purchases OF Stocks
for foreign account during the past ten
days. II is estimated that fully 10000
shares of stocks will have been shipped
TO Europe within the past two weeks, in
GLIDING those to go by tomorrow's sailing
vessel.
There was no material change to be
noted in the steel strike situation today
and barring outbreaks of violence on the
part of the strikers none is to be looked
for. 1t may be said that the lines in the
situation are now so distinctly drawn that
little ground for discussion is afforded.
a,lyag oh NOD
ceptibIy easier tone in both the call and
time loan divisions Time loans were
made under per cent Sterling exchange
showed further appearances OF weakness.
The returns of railway traffic submitted
made about the only news of the day of
Importance Notwithstanding the limited
volume of business interest was fairly
we'll diversified Notably firm features OF
the market were St. Paul, Union Pacific.
Southern Pacific. Pennsylvania, Norfolk
and Western. Atchison and Southern
Railway. No news or gossip of interest
attended the movements in these stocks.
Opinion regarding the rate of dividend to
be declared on St. Paul common next
month still varies widely. the suggestions
derived from the company's heavy re-
turns from traffic being modified In inter-
probation by reason of the well known
conservatism of the management.
The strength of Southern Railway was
again attended by reports that readjust-
ment of the company's capitalization was
contemplated, a notion which appears
reasonable enough although thus far 1t
is without any authoritative sanction.
Norfolk and Western and Chesapeake and
Ohio were again exceedingly firm, parti-
cularly the first named with reports cur
rent respecting a closer organization in
the bituminous coal industry. and there
were also intimatioas that large railway
system was seeking representation in the
management Of the Norfolk and Western
property. Regarded as a whole, the mar
ket reflected the same general circum-
stances that have been evident for a week
or more, namely, meagre offerings of
stocks from other than professional
sources, aud a steady demand from quar-
tiers which the professional element finds
ii difficult to locate.