Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-03-09
FINANCE AND TRADE
Good Buying of Some Low-Prioed
Railroad Shares.
MORE CONSOLIDATION
Bank Statement Had Both Good
and Bad Features.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch To The Evening Star.
NEW YORK. March 9-The opening OF
today's market was generally strong under
a mixed demand OF q professional charac-
ter London prices were lower. and this
fact taken In connection with an expected
loss in cash, restricted the volume Of new
commission house business The buying
of few specialties seemed to preserve the
steady undetone, however, and no signin-
cant declines were recorded.
The volume of the trading fell of decided
ly just prior to the publication Of the hank
statement, but the final dealings were spirit
ed and represented a considerable covering
of short stock
Wabash issues were among the features
OF the day, the preferred stock gaining
per cent under buying said to be for con-
troll. 1t is not definitely known Just what
property is seeking such control. but Lack
aWanna Is looked upon a likely purchaser
chicago and Great Western advanced for
similar reasons, ana one OF the larger
granger lines is believed to be buy-ing The
stock IN the open market. The buying
OF 81 Louis and San Francisco continues
on large scale, and Illinois Central is the
latest guess Of the street as to the source
or the demand.
The activity in these low-priced shares
Is an encouraging feature OF the situation.
ana indicates very clearly that all the good
news Is not yet out Consultations and
closer relations are almost certain 10 ex-
tend over the coming season. and IN is even
Hlnted mat the Steel consolidation will be
IoloWed by a far-reaching transaction of
equal magnitude in the railroad world
oIlon racine rallied Ia the final trading
under the covering of short contracts ana
II Is now thought that the supporting inter-
est may become more aggressive.
The Burlington-Northern Pacific alliance
is generally credited, and while a consid-
cradle time may be required for its execu-
ton II is thought to be a perfectly feasible
plan, involving less friction than the St.
Paul effort.
Amalgamated Copper rallied sharply dur
ing the nrst hour, as the result of a better
understanding Of the failure of the change
OF venue bill to become law I'm Montana
This company is now said to be Interested
only in general and not in a special man
ner. Some OF the cheap devices icing used
TO create bullish sentimeet in the stock
have tendency to bslttle the actual merit
OF the propertp
American Sugar was well supported, but
lntpS is a considerable volume OF realizing
In progress in spite OF the steady demand
A large short interest IL relied upon to con-
tribute largely to the upward movement IL
present plans do not miscarry.
The bank statement was unusually con-
sistent with yesterdays predicted changes
and while the changes are such as are
usually described as making a bad exhibit,
the market rallied sharply upon its publ
cation.
The loss in cash has been 81, go 300. near
ly all Of 1t to the subtreasury. The loans
have been increased 81 $50 800 which de-
Quoted from the loss in cash calls for an
Increase of 100000 in deposits, instead OF
which, however, the deposits show a de-
crease of S5SS. 500, or an Inconsistency OF
nearly $4,000 Practically all of the loss
In cash is shown by a decrease Of s4.oS3 S25
In the reserve, bringing that item down to
$40. 701. 275.