The Birmingham age-herald., 1902-08-01
COMBINATION TALK RULES ALL STOCKS Deals Affecting Rock Island and Frisco Cause Buying UNCER TAIN TITS DEVELOPED Fact That Illinois Central Wants East ern Illinois Arouses Suspicion as
 to Real consummatlon
 of Project.
] UNCERTAINTIES DEVELOPED

New York July 31.-There was such a turmoil in the opening stock market to- lay as. to upset the speculative senti- ment and disappoint the hope of a re- newal of a consistent upward movement of prices which had been indulged as result of yesterdays developments of fresh railroad deals. Probably the fever lsh upward dash of St. Louis and San Francisco, Evansville and Terre Haute, New York Air Brake, and few other stocks would have been sufficient in themselves to have disturbed sentiment. But when there was added downward plunge of over points in Colorado fuel and sharp decline in the Peoples Gas the upward course of prices with which the market opened quickly gave place to realization. St. Pauls opening rise or over a point was lost within few min utes of trading. St. Louis and San Fran cisco sagged back to below last night during the course of the forenoon. A few scattered advances at different times during the day proved ineffectual to arouse the market to activity. Chicago and Alton and Chicago terminal transfer advanced in company on mysterious hints of coming important developments. The rise in Reading seeded to be based upon the assumption that the rioting in the mine regions and the calling 0Gt of troops foreshadowed the break up of the strike. The drop in Colorado fuel was attributed to the fact that the company's books closed the day for the stockhold- CTS meeting so that the now purchasers would not carry voting power for the
 a. .4o1fr dfI to the refusal of judicial injunction of the enforcement of the 75 cent gas ordi- nance.
 The quick subsistence of the excitement which broke out in the market yesterday when the St. Louis and San Francisco and Chicago and Eastern Illinois were reported to have consolidated were pri- marily due to the uncertainty over the actual fact All persons interested were exceedingly reticent and doubts were aroused as to the real consummation of the project. Furthermore, supposing the project to be achieved there will be disap- pointments involved. 1t is a matter of public notoriety that Illinois Central has recently made an offer designed to secure control of Chicago and Eastern Illinois The advance in St. Louis and San Fran cisco for the past week has been on the assumption that 1t was "the important system pointed at as destined for in- clusion in the new Rock Island Company. The fact that the new project points to strengthened competition and is thus call culated to arouse antagonisms, makes it similar to many of the recent financial projects talked of and marks their de- parture from the much discussed commu- nity of interest policy which was to parcel out tremendously the whole railroad terri tory amongst the various financial pow CTS.
 The money market was calm today but sterling exchange held steady at the level of the recent gold exports The govern ment deficit which reached over SIP, ,000,0 900 at one time this month fell to below $S, 000.0)0 today and the sub-treasury in New York received a payment of over a mil lion dollars by the Central Pacific Rail- road compGny on account of note due to the government. The market closed quite active and weak. Prices running off sharply just at the last.
 Bonds were very irregular and inclined to De easier in the morning. The St. Louis Southwestern seconds were in large demand; total sale par value, S2,103,000. United States bonds were unchanged on the last call.