The age-herald., 1901-08-17
SLIGHT SET BACK
 IN STOCK PRICES
Caused by UnfavorabIe Aspect
 of the Strike Situation
, PROFIT TAKING ALSO HURT
Trading Picked Up as the Session Advanced with Commission Houses Fairly Good Buyers on the Up-
 turn-Closed Higher.

New York August 16-The setback In prices which occurred today, while in-' fluenced in measure by the less favor able aspect to the strike situation was primarily due to profit taking sales on the weeks rise Improvements have been made. In prices from day to day. and the resultant sharp gains showed some striking profits on the long account up to. last night. Bear selling had not been eff fective in checking the improvement, and it required only the announcement that the Joliet steel workers had reconsid- cred their decision not to go out as pretext to sell the market
 But little rallying power was displayed by feature stocks at any time during the day temporary gains being immedi- ately cancelled by renewed sales for both accounts. Their losses at the low point average little more than 1 per cent, ST. Paul figuring for tho extreme decline of IA While the western division was gen. erally under pressure. there was heavy buying at times of the bituminous and anthracite coal stocks, causing an im- provement in N. and W. of IS. and
  Southwestern stocks were 1 more promi- nent than heretofore, and the announce ment of acquisition by the Wabash of the Omaha and St. Louis Railroad failed to strengthen the Wabash issues. There was. heavy purchases of Ama1gamated Copper late in the day and the stock rose 215 on reports that a combination In which the company figured had secured control of the copper production of the country. It's top figure was not maintain ed the price running off point near the close Sugar underwent many wide, changes during the day, and after sell ing a point above yesterdays close, end- ed a point lower
 There was no news to account TOT the comprehensive strength of Peoples Gas, which improved 2h in the face or the heaviness elsewhere. Reports that the United States Steel Corporation had se- cured control of the Republic Iron ana Steel Company caused more active deal ings i1 the latter stocks and they ended point each higher. Large blocks Of United States Steel issues were dealt in at the opening and it was at this period that the low price of the day was made for the common One block Of 6oeO shares came out at 43%, but when 1t got down to 435S which indicated a loss over night the stock was supported and did not yield below that price. although 1t failed to recover to any extent when there was occasional rallies elsewhere. The final price was the lowest and the pre- ferred closed only sk above the lowest and Is 5s down or the day. The preliminary figures of the weekly bank statement n- dcate a gain by the banks of S717, ,11S This represents only the result of the interior movement as the banks have lost pretty steadily to the sub-treasury throughout despite the heavy govern ment. expenditures for the week. A sharp decline occurred in the sterling exchange market, demand bills falling to 4S7s on large offerings of bills. There was no demand to speak of and drawers reduced prices, pretty steadily during the day. The stock market was very dull in the closing dealings and ended weak.
 Railroad bonds were dull and generally easier. Total sales, par value, $1.145 900. United States bonds were all unchanged on the last call.
 New York Stock Market.
 By Private Wire to Murphy 6 Co.