The Washington times., 1902-08-09
Some Stocks Advanced
to Serve as Cover for
Liquidation.
ERIE COMMON is ACTIVE
Net Gain OF Nearly Two Per Cent
Scored-L.. & N, Norfolk and West
ern Rise Pressed Steel Car and Corn
Products Go to Higher Prices.

NEW YORK, Aug. S.-The character
of the stock market showed little or no
change today professional influences
contributing toward a further rise in
some stocks to higher records, while
others, under cover of this strength,
were liquidated On the whole the mar
ket was stronger than had been gener-
ally expected in view of the double holi-
day.
The operators who have been SO con-
spicuously before the public since the
Louisville and Nashville deal" are still
taking a prominent part in the specula-
tion.
New Record Scored.
These took hold early in the day of
Louisville and Nashville. Illinois Cen
tral, Norfolk and Western and other
stocks, but sold in other directions
Louisville and Nashville was advanced
nearly three points and made a new
high record. The extreme in Illinois
Central was Y.
Norfolk and Western was decidedly ac-
tive and scored gain of IA points, and
closed at the highest hgures on rumor
of a probable increase in the semi-an-
nual dividend at meeting which is ex-
pected TO be held next week. St. Paul.
Atchison. Southern Pacific, Missouri Pa
cific. Union Pacific, Wabash preferred
and Texas and Pacific enjoyed improve
ments.
Perhaps the most important feature
of the entire market was unusual
strength AMI activity in the Erie shares.
without special news to account for the
movement. The common led the entire
market in respect to activity and en-
joyed net gain of per cent The first
and second preferred left off l u and IL
per cent higher, respectively.
Rumor Not Confirmed.
The strength of Southern Railway and
Louisville and Nashville was coincident
with a brisk movement on the curb in
seaboard Air Line issues, at substan
tial gains. This fact caused revival of
reports of an impending important com
mission of Southern systems, in which
the Seaboard Air Line is expected to
figure. No confirmation of the reports
were received and Louisville and Nash
Vile at the close receded to about YES
- NN' . hlal p4 ttt.
Missouri Pacific finished near the low
est point of the day In the industrial
list Amalgamated Copper led in activity
and retained nearly all of an extreme !
rise OF rs per cent On nominal trans
actions substantial net gains were made I
py Corn Products issues and Pressed |
Steel Car. Sugar Refining was neglect |
ed and sold off nearly a point.
The railway bond market was some |
what less active, in common with the /
stock list, but the tone was in the main |
firm. AS the day progressed the clos |
ing up OF contracts in advance of the
double holiday and sales for both ac-
counts caused irregularity in the stock
list. but the tone was in the main firm.
As the day progressed the closing up
of contracts in advance of the double
holiday and sales for both accounts
caused irregularity in the stock market.
Curb Market Dealings.
The curb market, as whole was
quiet. but in the few issues that were
prominent the transactions were fairly
extensive. The feature was Seaboard
Air Line issues. About 5000 common
and 5000 shares Of preferred were dealt
in at net gains of about point. North
ern Securities was in slightly better
demand and advanced fractionally. Rock
Island new securities were quiet and the
stock and bonds sustained frac-
tional declines. United States Realty
was reactionary within slight range.
Oregon short line As were fairly active
and advanced fractionally Virginia
Coal and Coke issues were strong.
The tone of the stock market at the
close was fairly strong despite the ir-
regularity in prices.