Evening star., 1902-08-08
FINANCE AND TRADE
Opening of the Market Was
Firm.
LOWER LONDON PRICES
ACTIVITY SHOWN IN LOUISVILLE
AND NASHVILLE.
Rally of Missouri Pacific Stock on the
Part Of the Insiders-Increas-
ed Earnings Reported.

Special Dispatch to The Evening Star.
NEW YORK. August s.-No change OF
consequence was reported in the labor
situation. especially as TO the anthra-
cite coal miners strike. Increasing dissatis-
faction was reported among the miners.
owing to the inadequacy OF the strikers
relief distribution fund. IL was not
thought likely there would be any serious
labor trouble on the Manhattan Elevated
Conference among the labor leaders reIa-
tive to the outlook was continued.
The opening of the market was firm and
in spite of the lower London quotations
the dealing was strong and active. A few
OF the international stocks, such as St
Paul and Norfolk and Western, opened or
one-quarter. while the opening prices for
Missouri Pacific We're seven-eighths and
Texas one-half higher.
A high record was the result of activity
in Louisville and Nashville and the gain
nooga and st. Louis showed a sympathetic
movement and sold up to 1l5. The western
crowd was credited with continued activity
In Louisville and Nashville and Illinois Gen.
trail. There was rally of the Missouri
Pacific stock on the part Of insiders.
Hooking Valley was very strong on the ex-
pected retirement Of the preferred. The
long advance seemed at last to have
stocks, the coalers, sugar and copper were
almost neglected. Reports from a large
number of railroads show an increased per-
centage gross and net earnings during the
month of July.
Important Traffic Agreement.
CHICAGO, August s.-The Daily News
announces today that. by what is known
traffic agreement. close alliance has
been entered into between the Chicago. Mil
waukee and ST. Paul railway and the Mis-
souri, Pacific system, one representing the
Rockefeller interest and the other the great
southwestern railway systems of the Goulds.
By the alliance the former company will
secure a direct line to Salt Lake City and
the Missouri Pacific will gain direct en-
trance from the Kansas City gateway into
Chicago.
This will place the ST Paul system with
a terminus more than midway to the Pa
cific coast and give il entrance into III
Paso, Tex, over the Texas and Pacific
tracks, which are owned by the Gould in
terests, thus tapping the great southwest. :.
which is gridroned by the Gould lines. 1t
means that the St. Paul will enter the field
as a competitor for the traffic between Chi
cago and Kansas City, something il has
not heretofore attempted. save on freight.
This competition will be made possible by
the completion of cutoff lines.
1t Is understood that the traffic agree
ment is entered into rather than a direct
consolidation for fear Of interruption STINT
lar to that experienced by the Northern
Securities Company. IL is said that the al
lance has come about at the instance OF
the Rockefellers and is partly the result
of the Gould-Rockefeller combination at
the time Of the fight against the Pennsyl-
vania. By the merger the two systems con-
troll 12.163 miles. Many important hauls
will be gained by both lines. among others
that to New Orleans for the St. Paul with
water connections"