Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-04-19
Stocks Were Strong Under Home and
Foreign Demand.
BUYING WAS OF THE BEST KIND
All the STANDARD Railway Shares
Taken for Investment.
GENERAL MARKET REPORTS
Special Dis ,stch TO The Evening Star.

Special Dis stch TO The Evening Star.
NEW YORK, April 1q.-Under the i'm
petus of a strong London market and ex-
tensive buying for foreign account, the
local stock market opened at substantial
advances over last nights closing level.
The volume of the days business was large
and orders were well distributed through
out the railway department. Confidence
was again verging upon enthusiasm and
the outlook for higher prices was almost
unanimously conceded.
There were several routine developments
which contributed to the new demand. Tho
first in significance, perhaps. was an esti-
mated gain to the banks of $1,000, 600
through the weeks operations at the SUBJ
treasury. These figures indicate a prob
ability of a good bank statement tomor-
row. AS an immediate pratical acknowi-
edgment of a more favorable money sit
uation, call loans carrying over until Mon
day were made freely at per cent during
the active borrowing period.
Another factor was the reports of cur
rent railway earnings, all showing sub
stantial gains over the corresponding
periods last year. These reports, coupled
with splendid crop prospect deter selling
of long stock because of the fact that re-
turns are assured and the difficulty Of
making new investments is increasing.
The various deals now in prospect arc
growing In Importance as factors now that
the Burlington transaction is no longer
permitted to obscure events of equal or
even greater Importance in other sections.
The activity In the Junior securities of the
Vanderbilt system may be taken to indicate
approaching developments OF unusual mag
nitude.
There are denials, of the unconvincing
kind, of course, but the buying Of Della
ware and Hudson. MCKEE Plate issues,
Wheeling and Lake Erie, Canada Southern
and New York Central itself. is not for the
account of novices or stock jobbers. The
buying is of the best and Is as full OF pur-
pose as any recorded since November.
In the southwest there is a consolidation
In progress which viii make some of the
more talked-of eastern deals look extremely
commonplace. In a few instances proper
ties with no thought of merging with their
neighbors are on the verge of sharing their
prosperity with patient shareholders.
Fort Worth and Denver City is one of
such properties. 1t is now stated that the
bonds will get per cent in June and that
the stamped stock will shortly pay the
full per cent to which II is entitled. The
buying of this stock in the thirties has
been Of the best during the week.
The strength of st. Paul and Union Pa
cific, the latter around par, We're conspicu-
Gus features of the days business. The
demand was credited to conservative inter-
ests and was inspired to a considerable de-
gree by values.
Amalgamated Copper was given excellent
support and confident talk of new and i'm
portant developments is heard. Tho Trac-
ton shares we're strong, but without spe-
cial effort to force the advance Sugar
was allowed to drag somewhat, as were
the new steel shares. Mr.. Morgan's pres
ence in London has thus far helped his
old favorites, particularly the Southern
shares. to a greater degree than the Steel
issues The latter will be urged upon Lon
don after the visitor has demonstrated tho
correctness of his views upon more familiar
properties.