Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-04-19
High Prices in London Affect Stocks
in Wall Street.
ADVANCESEZPECrED DURING THE Week
Changers Are Fairly Active and
Higher.
GENERAL MARKET REPORTS
pecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, April 19.-Prices were uni
formly higher at the opening of todays
stock market in sympathy with advances in
London varying from is to 5-S per cent.
Realizing sales were conspicuous through
out the morning. but the sentiment Of the
street was not affected thereby. Profit-tak-
ing at the close of the week is not unusual
AID in the present instance is likely to be
productive of good results If surface con-
litionS not misleading. The advance
is expected to continue during the coming
week and something more than board room
support is promised. The public is ia
miliar wit:i the discouraging side OF the
situation. but is daily gaining confidence
in future prosperity which will reward the
present purchase of meritorious shares.
The grangers were fairly active and
higher. st. Paul leading on purchases for
both local and European account. Man
haitian was sold down moderately. as the
natural consequence of its recent sharp
advance, profit taking by traders being
responsible for the movement Covering
operations in Baltimore and Ohio added 2
per cent to the first recorded price, and fur
Their buying by the pool in New England
forced the price of that stock up l per
cent to the highest point thus far touched
There is no abatement Of the mystery at
tending the movement in the last-named
security. Tennessee Coal and Iron reacted
moderately Tor no Slgnlllcant reason, dIiu
elsewhere restricted volume of business
prevented any important changes either
way.
In the industrial list Sugar was the fea-
ture. opening strong at 1917 and declining
rapidly during the first hour to 105 II. The
sudden decline was due to profit taking,
and the successful uncoverinS of stop Or
ders. The volume of business at the de-
cline was large, and the bulk of the early
loss was regained during the noon hour.
Those responsible for the recent advance
are quoted as seeing no reason for chang
ing previously expressed views on the prob
abilities of much higher prices in the near
future.
The market for sterling and continental
bills was steady to firm on a small volume
Of business Bankers were disposed to hold
rates a trifie more firm for cable transfers,
and some drawings against provisions were
negotiated during the morning.
General conditions, however, remain UNI
changed.
The weekly statement of the clearing
house banks reflects a gain to the banks
through subtreasury operations of upward
of s., JOO.OOO and a probable gain of $2UO.-
900 from the interior currency movement.
This accumulation of money at this center
Is not desirable at this season of the year.
when the demand for money should be
brisk in all parts of the country. particu-
larly in the manufacturing and agricultural
districts.
The trading of the last hour was irregular
and In the main professional. The be-
levers in higher prices. who are unques-
tionably in the majority. predict that the
profits realized by traders today will be
employed to buy back the same securities
at higher prices next week
Tomorrow's short session may be devoted
to the evening up process also. but the de-
cline will not run far under prevailing con-
ditionS.