The evening times. [volume] (Washington, D.C.) 1895-1902, 1900-03-27

Another strong opening this morning
was followed by rather heavy realizing
aud Short selling for turn. and prices
m most parts OF the list declined fraction
ally during the morning hours The ad-
vance hes been steady and rapid aGd care
ful people are of the opinion that a reac-
lion OF roint or two would not be a bad
thing for the market Whether such a
decline is 10 come depends largely on the
volume Of the public buying and 10 is not
IN the least certain that the prOfessio
VIII be able 10 accomplish their purpose.
The market is I'M an excellent position. and
important financial and market interests
are almost unanimous on the hull side
looking for a large advance in ali parts
on the list Interest IN the railway list
was partly transferred 10 the traction
group AMI the steel and iron stocks and
The coalvTs. This coming into favor OF
these later issues has been expected for
"eyeral days. Conditions all seem 10 in
dicate important upward movements Of the
cOalers and the better steel stocks and
the outlook for the fractions is not by any
means as gloomy as the bears would have
the Street believe London was for q time
a seller this morning. bur IFS realizing
was not Of important volume and experts
on the other side profess 10 believe that
the absorption o. Americans b. NOT over
by any means There ISL an immense
amount q capital seeking Investment in
London a. vas saour by The sGbscripfion
ten times ore r Tor re ear loan Money
was lGaEinZ On cali mis- morning A. 8 per
cent and The prospects FOR easy rates dur
ing The rem i1ter % The week we're excel
lent The banks have gained from the
sub-freasuTy over r million dollars dur
ing the past two market DAYS.
Metropolitan quickly advanced 10 Ic7 A
few minutes after the opening BROOKLYN
advanced two points. Manhattan more than
q point. ard Third Avenue two points or
more. TO above lUj. The Street seems sud
denly to have realized that the short in
terest in tbs group Is immense. and that
the worst decision regarding the assess
meuts of the franchise tax has more than
been discounted. There was heavy short
covering this morning and some very
good buying for the long account as we'll
One particularly attractive feature of
the present market situation is the una
nimity of the leaders on the bull side. Mr.
Morgan. the RCckefellers. Mr.. Vanderbilt
the Flowers. the Whitney and Ryan people
are all buying securities in the various
group i'm which they are interested The
Flowers took 10 the steel and iron securi-
ties this morning and it was said that
there Is likely TO be an immediate advance
Of important American Steel and Wire
common. and Federal Steel common. Col
oradO Fuel and iron also is much liked by
an important group OF market people
There was heavy buying Of the latter stock
this morning. and IL soon sold above 50
Wire. common. sold above - and Federal
Steel. common. above y.
The earnings Of the Southern group of
railways for the third week Of March have
nowsall been published. The statement OF
the Southern Railway was given out this
morning. 10 shows an increase In gross
earnings OF So, oO0
IL is stated semi-oflcially that both
Union Pacific. common. and Northern Pa
cihc, common. are to be placed on a higher
dividend basis Immediately. The buying
OF these securities and Of Southern Pacific
during the past two or three days has been
immense. but there are indications that
the same interests have not yet completed
the lines % stock they wish TO hold There
is little indication Of realizing by insiders
as yet In the group Southern Pacific was
the most prominent Of the group this
morning with an advance 10 i3 early in the
session.
Reading first Dreferred has bean nsg