Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-04-11
Money Conditions in New York
Unfavorable to Stooka
HEAVY UNLOADING TODAY
Boom in Northwestern and a
Break in Burlington.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, April 1.-THE course Of the
local money market dampened speculative
enthusiasm after the opening hour this
morning and inspired rather general profit
taking later in the day. London sent over
a range of prices In which substantial ad-
vances were reflected. q gain OF per cent
in Wabash preferred being the feature
Buying orders were cabled TO this side. but
local houses were willing to sell rather
than to follow the lead OF the foreign
houses
The one fear was that money might work
higher at the end Of the week as a result
of the decreased holdings OF the local
banks
Traders and commission houses COM
peted with each other in the effort to mar
ket stocks. In nearly every instance the
belief was expressed that the shares mar
keted could and should be bought back at
lower level. Many of the larger houses
which had urged proft-taking earlier in the
week advised the purchase Of the low
priced railways on the decline. The conf
oenee in higher prices for the specialties Is
undated
An advance in Northwestern to 2I2 was
the outcome of a special meeting looking
to the devising of plan for avoiding the
injurious effects of the various consolida-
lions in the northwest. Some decision OF
benefit to shareholders was confidently pre-
dicted. This action was taken as an indi-
cation OF the success OF the Burlington
deal, although official confirmation is stiII
withheld.
American Sugar was marked up under
liberal buying OF a mixed character and
shrewd judges were of the opinion that the
long delayed advance had begun. There
can be no doubt of this company's earnins
capacity. even under the influence of trade
differences. and higher prices for the stock
need no greater incentive than the wish of
inside interests to have them so. The
launching OF the aggressive movement to-
day was regarded a timely device for
steadying the general market.
Amalgamated Copper and the Steel
SHARES were marked up early i'm the day
but the manipulation was aba doned later
IN the day, and the stocks allowed to de-
cline in sympathy with the market. Heavy
realizing In Burlington was a feature OF
the last hour, the price breaking under.
sales OF round lots by commission houses
whose clients had become nervous over
the delay in announcing the deal. Support
ing orders came in just at the time the
rumors of serious hitch In the deal were
becoming effective.
The hitch is regarded as the usual
preliminary to the official announcement
that the matter is closed
The Gould stocks were given splendid
support throughout the day, although Wa
pdSi ISSUES Idlleu 10 sustain the advance
recorded in the London market The buy
Ing Of Texas Pacific was good. but there
was less evidence of desire to force the
movement.
Saturdays bank statement can scarcely
avoid showing loss In money and reserve
IL should, however, be within a fortnight
of the last adverse showing and a waiting
market may be substituted for a declining
one. Generally speaking, the situation IA
well in hand, and caution may properly be
reflected without extending to fear or the
slightest mistrust OF the ultimate result