Evening star., 1902-08-04
Decreased Interest in Specu-
lation Continues.
LITTLE NEW BUSINESS
MISSOURI PACIFIC DROPS POINT
AND A HALF.
Coal Stocks Attract Some Attentiop--
Traction Shares Steady
Money, 3 Per Cent.
Special pisDatch to The Evening Star.

Nt''Aei bAebotNh I" me tfcuiuk SlaE.
NEW YORK. August 4.-The decreased
interest in speculation noted at the close OF
last week was even more pronounced to-
day. There was no new business and moth
ing to indicate that any special plans were
being carried out blythe pools and cliques
which have made the summers market
In commission house circles the dullness
was accepted as being the most logical out
come OF the mixed speculative conditions
now prevailing. but opinion was divided as
TO probable direction Of prices once the
stagnation is overcome II the public is to
buy the stocks which the pools have to sell
1t is more than likely that 1t will be at a
lower level
The Rock Island plan is being held up as
a warning, and an attempt to initiate that
undertaking will fall fat so far as the COM
mission house following is concerned. There
are, however. numerous plans for concen-
tration which follow the older formulas
and some activity may be injected into
the market by exploiting them at a later
date.
One of these undertakings Is the uniflca-
tion OF the Gould lines. The Junior MEM
oers or the Gould group. St. Louis and
southwestern issues in particular, were ac-
tive and higher in today's market The
continued buying OF these issues in the
face OF dull and generally unresponsive
market was generally commented upon.
Nhlie the southwestern shares were being
marked up into new prominence the selling
or Missouri Pacific the backbone OF the
could transcontinental scheme, made that
property conspicuously weak. The decline
from 1lS1R to III was made by vigorous
sales, and the pool was credited with an
intention OF transferring fits efforts 90 the
cheaper issues. 81
Western Union rallied under a mixed de-
mdn0 in which shurf fen
ture. and there was a further demand for
Manhattan from the sources which advanc-
ed the price at the close of last week
The dullness was pronounced in such
stocks as st. Paul, Illinois Central and the
higher-grade western issues. The buying
OF this group was called good. that is
more purposeful than the selling, but there
was effort to acquire stock. The ffuctua-
uons were unusually wide that Is. % to n
per cent between previous sales, instead of
numerous transactions at the same price
or but Is apart. Stocks were simply taken
when offered down, but there was no in
terest sufficiently aggressive to mark up
prices.
The coal stocks attracted some attention
during the morning as the result of a be
lief that conditions continued to favor the
early ending of the strike. Reading shares
advanced easily under the demand. and
were said to be in very limited supply
There was no effort made to force the
coal stocks up in spite OF the heaviness
elsewhere, and later in the day the de-
creased demand resulted In lower prices.
The buying of the steel stocks was effec-
tive for a time, prices advancing easily un-
der fair demand from sources familiar
with trade conditions. The independent
issues were firm and some talk of new
combinations Is heard from time TO time
The Traction shares were steady under
a demand from the several pools but the
general market was not in sympathy with
continued advance in this group The
larger Interests in the Metropolitan securi-
ties Company are credited with an inten-
ton to advance the shares OF that. com
pany, but there is no evidence of any i'm
mediate effort in that direction, owing to
the vacation season and the absence OF
numerous influential members OF that CO.
terie. - 20.
Money loaned at per cent and a frac-
tion under during the day. and was in fair
supply. The question OF gold shipments
was discussed. but there was some differ
ence of opinion as to the extent OF the out
flow. -.
The present volume of speculation is not
likely to be materially Influenced by any
purely routine development. Traders are
pessimistic, but afraid to sell, and the bank
ing interest expects higher prices but is
not sure but that lower prices will precede
them. Meanwhile speculation marks
time" and awaits some incentive TO action