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Show ACTIVE AND STRONG MARKET 15 6LUGGI8HBEF0RE CL06E Deadlock in Steel Situation Again Proves Chief Deterrent to Buoyancy; Trading in Rails Is Negligible. NEW YORK, Sept. 8. Stocks -were active and strong on the resumption of trading today, but the market soon lapsed into dullness, wiih & heaTy undertone, owing mainly to the absence ab-sence of bullish IncentlTe. The deadlock in the steel Bituation was apaln the chief deterrent. United States Steel fluctuated fluctu-ated between 102-i and 104, closing at 103, unchanged, but allied shares, notable Crucible, were Inclined to strengthen later, finishing mostly at gains. Trading In rails was negligible, the moderate reaction in standard transportations becoming more apparent after the publication of Southern South-ern Pacific's July earnings, which disclosed a heavy decrease in net operating Income. Mostly the elements of consistent strength were provided by oils, motors and shippings. Mexican Petroleum enlivened the later denlings at an extreme advance of 12U. points, most of which was held, with pronounced strength in Pan-American Petroleum, Texan company and Sinclair. Among specialties Industrial Alcohol was noteworthy for its rise of over 6 points, and several of the motor specialties, particularly Fisher body, were strong, tobaccos also becoming becom-ing firm to Btrong. Utilities, as represented by American Telephone, Western Union and Montana 1'ower, were distinctly heavy. Sales amounted to 675.000 shares. Firmer tendencies were manifest in the money market, call loans closing at 8 per cent, after opening at Liberty bonds were strong, foreign Issues steady und the general list little changed, though slightly better: total sales (par value) aggregated $14,300,000. Old United States bonds unchanged on cull. |