Evening star., 1902-08-26
FINANCE AND TRADE
Some Realizing Noted in
Southern Pacific
ALSO WESTERN UNION
SHARP DEMAND FOR ILLINOIS
CENTRAL.
Indications That the Southern Merger
is to Be Put Through
Soon.
ALSO. WESTERN UNION

Special Dispatch TO The Evening Star.
NEW YORK, August 26.-Higher prices
in London rejecting advances varying
from u 10 1 per cent and an Increase In
the volume OF commission business result
ed in higher prices in the local stock mar
ket this morning. Under cover OF the
strength profit-tsking on large scale was
noted in the more active shares, but all
sales were well absorbed.
The pool in Southern Pacific has undoubt-
edly attracted some public following ard
Is reported to have sold some $1,000 shares
so far this week. The advance in Cuica
Pacific was resumed and made a most
satisfactory cloak for the realizing in The
former issue. The advance in Southern
Pacific has been rapid, and the present
selling is accepted as a natural incident
which in no way Injuries the main move
ment.
Atchisens were taken up aggressively
after period of neglect and gave a good
account of themselves The old pool was
credited with new purcha ases. and the COM
mon stock responded easily to this de-
mand. In some quarters there was a ten
dency to consider the movement I'm Atchi-
son as being part of the professional pro-
gram for increasing the apparent breadth h
of the trading.
Erie was advanced under a good demand
and there was significant buying of Read
ing in spite Of sales by the western contin-
gent There are rumors OF pronounced
pressure being brought to force a settle
ment of the coal strike by means of some
trif1ing concessions from the operators.
Whatever may be the exact status of the
strike, inside interests are evidently behind
the buying of the coal shares. and in antic-
ipation of an early ending of labor troubles
upon some basis.
Baltimore and Ohio held its sharp ad-
vance of yesterday remarkably well. but
the pool sold stock around ll5 as the mar
ket would take it.
The soft coal roads were steady and in
many of them there was almost no stock
seeking a market The Gould party were
credited with a revival of buying i'm Mis-
souri, Pacific, but other southwestern roads
were less active
st. Louis and Southwestern was sold by
inside interests, and there was no confir-
nation of the early dividend rumors.
The advance in Western Union brought
out a considerable volume of long stock
and resulted I'm a reaction of more than l
per cent from the best level of the morning
The Express stocks were strong and
active under a good demand and there was
a moderate demand for fractions. General
Electric developed some strength on mar
row trading. and there was a fair inquiry
for the steel issues and a few of the older
industrials.
In a general way the street shows soma
impatience over the delay in announcing
the settlement of the Louisville and Nash
vile deal.
A sudden demand for Illinois Central dur
ing the afternoon gave rise to rumors of
an early announcement of the southern rail-
road plan but there were no official devel-
opments.
Money was again in good supply. and
there was noticeable decrease in the fears
of a tight money market. Activity without
stringency is now the assurance in banking
circles.