Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-05-22
Buying of Wabash and Erie Feature
in Stocks.
RUMORS OF A Big DEAL
Somewhat BuIIish Tone to the New
York Exchange.
GENERAL MARKET REPORTS
Special Dispatch TO The Evening Star.

| Special Dispatch TO The Evening Star.
NEW YORK. May 22.-There was moro
| interest displayed in American shares On
| the London market in the early dealings.
the leader being Union Pacific. which
showed an advance OF Il point over our
! close yesterday. Slight advances were also
voted in United States Steel preferred and
common. The rest of the list was character
| lied by irregularity.
In the later quotations from that center
reactions took place, carrying prices from
Il to q below our closing prices Of yester-
day. Business was not very brisk in the
later dealings on the London market. on
account Of the holidays occurring there
Saturday and Monday next.
In the local stock market this morning
trading was on very conservative basis
and initial prices showed some irregular
changes. The recessions in the London
market were responsible for the hesitation
displayed in our market at the start but
within fifteen minutes after the opening
the market began to harden, with especial
strength noticeable in the Erie issues Wa
bash, MISSOURI Pacific, Atchison and ST.
| Paul
The Wabash issues and Missouri Pacific
| stock were helped by the report that George
| Gould had obtained powerful influence in
Delaware, Lackawanna and Western
The local traction shares We're materially
| higher on the covering of that stock put
| out in the past few days
The strength displayed by Hooking Valley
was attributed to the declaration of a diyi-
| dend on the common stock Of that COM
pany.
| In the industrials Sugar advanced a point
and half after opening at 1I7L. and the
| stock showed more steadiness than II dis
played yesterday.
Amalgamated Copper was about steady
| with little business doing.
Little attention was paid to the sale OF
| 100 Northern Pacific at Ill IA against 157
| the last sale of yesterday.
| Car and Foundry. both common and pre-
81 foo nf ~
| day trading. The talk was rather bulish
| on both issues The company has received
great many new orders recently. and
| there have been rumors also TO the effect
| that this company will take over the Will
mlngton Car Works Company. The pre-
| ferred stock pays a dividend of per cent
yearly and looks like very good PROPOSE
| ton at its present level, 80 TO 81
In the afternoon trading the Erie issues
were about the only active features of the
| market. All three of its issues-preferred
second preferred and common-shared In
| the strength that followed the heavy p,Ir-
| chaSes in this stock. The common sold up
| three points on large transactions. There
! were no rumors afioat in the board to ac-
count for this sudden activity; and, in fact
| the buying was well concealed but was
| said TO be for strong interests.
| Strength was also displayed by Colorado
| Southern on the belief that the recent pur-
chaseS had been for Missouri Pacific inter
| ests.
Rock Island weakened a little on light
| transactions, but no significance was at
| tached to the decline. Lnseed preferred
| took a tumble of two points from 81 to
| - on sales of 100 shares.
! The general market did not participate in
| the activity, and strength developed in
! Erie. On the contrary, most of them were
! inclined to sell off. In the late trading the
| market showed signs of Improvement all
| around. In the rise in the low-priced
shares the names of Wabash and Erie are
being almost everywhere linked together,
and some Of the largest financiers in the
| street think something Is on foot ASSOCIATE
| ing these two properties.
Missouri Pacific books will close Saturday
| for the meeting to be held June 20 They
| will remain closed until June 27 the day
| following the meeting. This seems signif-
can't in connection with recent rumors
| about the dividend. as 1t is clear that no
| dividend can be declared while the books
| are closed. All possibilities of one being
| declared are, therefore. postponed until af-
| ter June %.
Money closed eaSy