Evening star., 1902-08-21
FINANCE AND TRADE
Stocks Generally Lower in
Wall Street.
SOME PROFIT TAKING
GATES CLIQUE SELL COLORADO
FUEL AND IRON.
Westerners Believed to Favor the Bear
Side of Market for the
Present.
SOME PROFIT TAKING
The Evening Star.

Special Dispatch 10 The Evening Star.
NEW YORK. August 21.-Opening prices
were generally firm I'm tone this morning.
but there was no evidence OF aggressive
ness on the part of the leaders OF the spec
ulation.
London sent over an Irregular range OF
prices. and did little in the local market.
Sentiment was divided on the Immediate
outlook. a considerable following selling
stocks in the belief that a reaction was
due.
Profit-taking in all the active issues be-
came feature OF the trading after the
noon hour and a decidedly reacttouary mar
ket was reflected for a time. The Gates
specialties were sold freely. as the result
Of the contest over Colorado Fuel and tho
fear that other ventures might become in
volved in the difficulty. The action of the
management in securing an adjournment
of the annual meeting meets with little ap-
proval so far as the public Is concerned.
1t had been expected that an episode
little short OF violent would be recorded,
and there was no disappointment in this
particular. The injunction being granted
to stay the proceedings the Osgood faction
has the sanction OF the court TO continue
in office until such time as they are con-
yinced that they are I'm the majority. The
difnculty has not ended, however and tie
contest will now be resumed In Wall street
The stock was sold down sharply again
today, and again the street argued that the
Gates party We're giving out the orders.
Louisville and Nashville sold down, and
this weakness was taken to Indicate a will
ingness on the part Of the Gates party to
depresS the general list. Some selling did
appear, enough to keep prices heavy but
there were other forces at work which at
tracted attention. The coal stocks wer,
very strong during the morning and some
buying by Morgan interests We're reported
Strike news was mixed in character but
there was an impression that the end OF
that difficulty was not distant. Readings
were easily advanced and In small supply
Ontario and Western was well bought and
Erie was active under a good demand, but
encountered liberal supply.
Kansas City Southern was taken by the
pool which began to accumulate stock
around 30, and was made to sell at its best
price on this rise. Rumors that 1t was To
ngure in deal with Alton and Chicago
Terminal were revived and given some Gre
was irregular, but there was Gould buying
OF the Denver issues during the morning,
which added substantially TO prices.
The high priced shares suffered materially
from neglect and sold off without develop
ing any demand from the pools. New York
Central and Illinois Central were erratic
unuer small dealings in spite of a report
that inside interests were accommodating
both stocks. Missouri Pacific was thought
to be held in check. but the street was In
ciined to expect an early resumption OF
the advance. Southern Pacific met some
realizing and receded moderately.
All of the stocks in the southwest re-
fiected profit taking.
The market was weak during the final
hour under continued selling of Colorado
Fuel. The decline in these shares was
vigorously pushed by the defeated interest.
Money was in fair supply, but no ma
terial change In conditions was reported.