Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-09-17
Western Spectators Bought
Stocks Aggressively.
DULLNESS AT THE END
EASIER MONEY HAD REASSUR-
ING EFFECT.
Commission Houses, However, Are
Not in Favor Of Higher
Prices.
Special Dispatch to The Evening Star.

Special Dispatc to The Evening Star
NEW YORK, September 17.-Tradins in
today's market reflected further aggres-
siveness on the part of pools aud specula-
tive cliques, but commission houses Were
not in sympathy with higher prices at this
time. Conservative judges predict an &C
tive money market for the balance OF the
year, and a considerable shifting OF loans
during that period. The belief is expressed
that the furry in last weeks money will not
be repeated, but that stiff rate will be
cepted as a natural incident to the CONNER
cial and agricultural activity OF the last
half of the year.
The ENGAGEMENTS of gold for import now
total S6.23O0OO. and some relief may come
from further additions to the sum. Part
of the amount now engaged cannot reach
local banks prior to the second week in
October. The fact that it is coming at all
Is exerting favorable influence on senti-
ment and there was a decided increase In
the supply of loanable funds today The
rate varied from to 10 per cent with q
good supply during the morning at per
cent.
The western element in the market re-
sumed the aggressive and bid up their spe-
cialties. Colorado and Southern was
bought by this faction, and Kansas City
Southern shared in the advance. Fort
Worth and Denver city stamped stock also
made new high record under moderate
dealings. Rock Island sold above 300. and
ST. Paul crossed 100 under buying a little
better than speculative There was a fair
demand for the Pacific issues ut fractional
advances, but there was little effort made to
force the rise
In Union and Southern Pacific the effort
at the moment is merely to hold prices
pending the maturing of certain plans.
The Gould shares were well sustained
FOR time, an early demand for Manhat-
tan carrying 1t up sharply. but later the
Price lost portion of its gain. The buying
of the Wabash issues was called good and
credited in part to inside interests. The
coal shares We're steady on the repeated
announcement that coal was going to mar
ket in steadily increasing quantities
Erie is just now the subject OF much
hopeful prediction and rumorS of important
developments are familiar In every brokers'
office. Should developments In the North
ern Securities merger suits admit OF the
carrying out of the original plans there can
be little doubt that Erie would become "A
speculative favorite. Antario and Western
holds well. but lacks an aggressive demand
The August report of the United States
Steel Corporation, showing earnings of SIP
ooOOO, an increase over the previous
month and the generally predicted results,
resulted in fractional gains for both classes
of stock. Sugar was well bought by trade
interests. and there was a modest demand
for numerous middle-priced industrials.
The market relapsed into dizziness during
the last hour, and prices were irregular in
consequence.
There is little indication OF liquidation in
significant volume, and there Is an unac-
countable willingness to buy in certain
quarters which the money rate alone curbs.
If money can be had later on, that Is, IL
money Is available at some rate, even a
reasonably high one, 1t is quite probable
that a few special stocks will have SUBJ
stantial rises. In this event it is also likely
that certain pools will Sell literally under
cover of the advance.