Evening star., 1902-09-03
Stock Market Was Strong
Again Today.
COAL ROADS LEADERS
PENNSYLvANIA'S GOOD SHOWING
FOR JULY.
Due to Increased Use of Soft Coal ow-
ing to Strike in
Anthracite.
Special Dispatch to The Evening Star.

Special Dispatch to The Evenin, Star
NEW YORK. September 3.-Prices fos
American securities in the London market
today were somewhat Irregular. Reading
and Baltimore and Ohio being "a and -
lower. while the rest OF the market was
from y to :. higher.
In the local stock market the opening
was firm, with prices fractionally higher.
and helped by a goo dsupply OF commits
sion house orders and some foreign buy ing
The bull movement soon got under way
again with Reading the center of specula-
tion, the price quickly advancing over
per cent over the initial figures on buying,
which was considered good by the street
the belief being that the reg mt heavy pur-
chases had been for the Pennsylvania ac-
count. There were also the usual reports OF
strong political pressure to end the anthra-
cite strike, and some activity and strength
was also shown in the other hard coalers
In consequence.
A splendid showing was made by The
Pennsylvania in their July statement-uct
earnings being increased Slol5.gao while
the gross showed an increase of s. .pi4 I0B.
In both cases these are record figures frr
the month. and the statement shows nearly
~ per cent of gross was saved in the l.at.
These remarkable earnings are largely at
tributed to the heavy traffic in bituminous
coal, which has been going on since the
beginning of the anthracite strike, the
Pennsylvania being one of the largest soft
coal producing and carrying lines.
Inc stock was strong on the good state
ment and excellent buying OF # was re-
ported in the street
In Southern Pacific the pool seemed active
and the price was easily advanced above 81,
a new high level for this speciality.
The Gould people were active in Texas
and Pacific, and it was stated that the
Missouri Pacific pool was thought TO have
taken strong position In this stock.
Missouri Pacific also gained strength in
sympathy with the advance in Texas Pa
cific. but on the rallies met with some real
izing sales from the pool.
The Atchison issues were not as active as
yesterday, and while the price OF the com
mon held very well there was some realz-
ing in the preferred stock, which carried
the price down over point.
Rock Island and St. Paul were strong,
but inactive.
In the Industrial group Amalgamated
Copper showed marked strength and ben
etted some by the belief that prominent
Boston operator was on the short side OF IL.
The local traction shares were a little
stronger. Manhattan being the most active.
caused by the good annual report for the
year ended June 30, showing a surplus,
after charges and dividends, of 81, l53. 455-
an increase Of I5l. .120 over last year.
After the first hour OF trading a reaction
occurred in the general market on reaiiz
ing sales and helped by the reported aCcI-
dent to the President.
The narrow escape from serious accident
of President Roosevelt had the effect of
checking speculation. and the announcement
today of the departure for Europe of "A
prominent speculator with a large western
following also tended TO restrict trading on
a large scale By that faction. and il was
thought they were taking profits in Colo
rado Fuel and Iron, in Southern railway
and kindred stocks. London bought about
10000 shares on balance, out of about 40
OO0 shares traded in.
In the late trading the larger intere sts
appeared to be encouraging a wider public
following by broadening the general market
rather than by advancing the price OF any
particular stocks. The local traction shares
displayed considerable strength in the af-
ternoon specula ton. and the buying orders
appeared to come from insiders. This was
especially so in Manhattan.
Summing up. there does not appear 10 be
any change in general conditions elsewhere
than in the south, where government crop
reports show a serious decline. amounting to
IL points. in the condition of cotton, and
this ought to have some effect on the
southern roads.