Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-08-23
Buying Of Coal Road Shares Again a
Feature.
ADVANCE IN BALTIMORE AND OHIO
Steel Strike Has Ceased to Be q
Potent Influence.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star.
NEW YORK, August 23-Opening prices
this morning reflected fractional advances
over the closing level OF yesterday. and
the volume of commission business was
noticeably improved. London sent over a
higher range OF prices. but was not free
buyer In this market.
The new business went largely into the
coal stocks and was fairly representative
In character. Erie issues were first to re-
spond to the demand, the common stock
being taken in round lots by the largest
houses in the street. A supply of stock
at 40 was quickly taken and the price ad-
vanced beyond that limit.
The first and second preferred shares
moved up early under a smaller volume of
business. Reading, Ontario and Western
and the higher priced issues advanced I'M
der demand which had all the earmarks
of accumulation. The street was noticably
encouraged by the f1rmness Of the coal
group and sentiment was decidedly opti-
mistic in consequence.
vancing prices. the covering OF a consid-
cradle short interest helping the move
ment. The buying also had the appearance
or desire on the part OF some interest to
increase Its holdings Of long stock.
Norfolk and Western was active during
the early trading under the influence Of
rumors that the Gould party was buying
into the property upon considerable scale.
This character of incentive Is increasing
constantly and today showed a revival Of
interest In deals Of all sorts.
The southwestern situation gives promise
OF early developments while there are nu.
merous plans pending in other sections.
Union Pacific was well bought on its pros.
poets and splendid earnings and Southern
Pacific followed sympathetically.
These shares have strong banking in
huence behind them and move easily when
ever the market Is favorable. st. Paul
shows the constant attention which accom-
panies purposeful buying by inside inter.
ests. Buying orders of considerable vol.
ume have been under this property all sum-
mer and the stock should work well to the
front of any activity which may come this
fall. Pennsylvania and New York Central
show the effects Of a steady inquiry, but
the best developments are likely to come
late in the year.
The buying of the junior Vanderbilts IS
significant, and may assume holder proper
items at any moment.
Amalgamated Copper opened at a SUBJ
stantial advance, but found some stock
seeking a market. and was allowed to re-
act until the pressure to sell was relieved.
The pressure once off, the advance was re-
sumed under big buying.
The steel strike Is again working steadily
In favor Of the company, and. barring vio-
lence, will fail to cause anxiety in specu-
lative circles. The buying today by the
leading banking houses may be taken as
conclusive evidence Of satisfaction with
the strike outlook.
The public is needed to hold prices and
keep the present movement going until the
market broadens sufficiently to allow big
profit-taking. Sometime between now and
the end of the year realizing by syndicates
may be looked for, but big rise Is neces-
sary as condition precedent to this
scheme.