Evening star., 1902-08-28
FINANCE AND TRADE
Dullness characterized To-
days Stock Market.
LITTLE NEW BUSINESS
LONDON A BUYER OF LIMITED
PROPORTIONS.
Expectations That the Southern Mer.
ger Will Be Outlined at Illinois
Central Meeting.
Special Dispatch to The Evening Star

Speclai dispatch 10 The Evening Star
NEW YORK, August 2S-Tradlng in to-
days stock market was decidedly confused.
the larger interests doing little and traders
selling to take profits over the triple hou-
day.
London bought few shares on balance
principally Union Pacific. but the demand
did not reach significant proportions
There was no incentive to new business.
all OF the news items being OF a purely
routine nature.
The Reading shares were supported by
the interests which have lately been tho
largest buyers and the reduction Of the
dividend on the first preferred stock was
accepted as stroke Of policy which would
result in later benefits to the patient hold
ers of the stock Fries were indiTerently
supported as the result Of rumors that an
important interest was selling stock as the
market would take IT,
News from the strike region indicated a
further effort to start the mines and the
operators were quoted as being satisfied
with the outlook for getting an abundant
supply of coal to market in time for the
fan demand.
Colorado Fuel was strong during the
morning under a good demand and was
given fair support throughout the day
The express stocks made new high records
ana there was fair demand for the better
known industrias.
The southern railroad situation continues
to drag along without definite announce
ment as TO what is to be done with Louis
vile and Nashville. Southern and the
other properties operating in that section
Illinois Central shareholders meet tomorrow
TO ratify certain plans Of the directors. and
II may be that the whole southern program
is Withheld until after the action OF this
meeting is known.
The Gould issues were neglected and the
prices for most OF them shaded of under
cover Of the dullness. Atchisons were rel
atively steady. but there was no aggressive
demand for them. The Southern Pacific
pool did little beyond supporting the stock
and Union Pacific was supplied in spite Of
the effort to make the stock attractive as
the result Of the benefits to be derived from
Southern Pacific prosperity.
pennsylvania and Baltimore and Ohio
were steady under moderate dealings. and
an attempt was made to attribute the
strength TO inside knowledge that friendly
interests were in control of Reading. There
was absolutely nothing official upon which
to base such a conclusion.
The local gas and traction stocks were
supported by inside interests. but the day
as whole was given over to trading of the
most perfunCtOry character
The banks have been sending money to
the interior in considerable volume. and
present indications are that the bank state
ment will show loss in cash at the end
of the week. Should this showing be along
the li\s Indicated it is likely that call
money will work up moderately thus curb
ing an active speculation.
The money market will be a factor OF first
Importance from now on, and even some OF
the larger deals may be held back for a
regions over Labor day will make tomor-
rows market dull in all probability. with
further evening up Of accounts the only
feature.