Evening star., 1902-08-20
FINANCE AND TRADE
Generally Better Feeling in
Stocks Today.
PUBLIC BUYING AGAIN
SLUMP IN COLORADO FUEL AND
IRON.
Due to the Failure of Gates Party to
Secure an Injunc-
tion.
PUBLIC BUYING AGAIN
Special pispatch to The Evening Star.

|
| NEW YORK. August 20-Prices hard
| ened In nearly all departments OF the stock
market as the result of an increase in the
volume OF commission business and further
| activity by the pools. Lcndon sold on the
| advance. but in spite OF that fact prices
| were well sustained.
Realizing was a conspicuous feature in A
| few stocks, but this evidence OF distribution
| failed to effect sentiment. In some quarters
| the selling was regarded as beneficial inas-
much as some Of the neglected issues might
! be taken up by the interests who were
| closing up their commitments elsewhere.
Gould interests were credited with lib
eral purchases of Wabash and Denver is-
sues. and prices responded easily for sub
stantial gains.
At the same time Missouri Pacific was
supplied around lis and was the first OF
the railroad shares to recede under con-
slant offerings. Southern railway COM
mon was active under a big demand from
interests said to be the principles in the
Louisville and Nashville deal The former
stock sold above Al, or at a record price.
while Louisville failed to hold its sharp
rise Of the opening hour.
Illinois Central, a property invariably in
cluded in the recent campaigns Of the two
fraction of 40 and hesitated under moder-
ate dealings throughout the day.
Colorado Southern issues were strong for
time, and the Gates-Hanley party were
credited with the new business Kansas
City Southern attracted fair volume of
new business and gained about 1 per cent.
Chicago and Great Western opened at 35
and ruled at 347s for the greater part of the
day. Wisconsin Central was steady, and
all Of the low-priced shares reflected a
strong undertone.
The movement in this group yesterday
very naturally attracted realizing sales in
considerable volume. the advance being in
terrupted in consequence.
indications of new buying in United
States Steel issues had a beneficial effect
on sentiment, the advance being accompa-
MED by rumors Of larger earnings. Inside
interests were credited with some of the
new business, and this fact. coupled with
Mr.. Morgan'S return, gave rise to the theory
that such interests did not dread disturb
ing money market for the present Ten
neSSee Coal and Iron and Pressed Steel
Car were stronger under a commission de-
mand based on increased earnings and as
surances of another year Of good business
The Gates-OsgOod contest for the CON-
troll of Colorado Fuel was reflected by a
vigorous drive at Colorado Fuel durinf the
morning In which decline Of per cent
was recorded. The orders We're given out
by brokers usually acting for the Gates
party, and were thought to have intimation
or what might follow the success of the
osgood faction at today's meeting. The
market was singularly undisturbed by the
episode.
Contests of this character usually prove
uncomfortable for some one, but the public
Is happily outside the danger line in this
instance. The coal stocks were stronger
under the announcement that the mines
would resume operations in time to supply
the fall demand. This assurance from
Lackawanna sources was regarded as I'm
some measure official, and led to buying
of Erie, Reading and Ontario and Western.
The stocks responded easily for a time,
but later in the day reacted with the gem
eral list. The coal stocks. a group, are
quite as strong and quite as popular as any
in the market.
Money loaned at 4 per cent and was in
fair supply, although there is no abatement
of the belief I'm an active money market for
the next few weeks. Should the increase in
public interest continue. even on the small
scale of today, a considera bic market Cor
few stocks may be recorded in spite Of the
money rate.