Evening star., 1901-04-16
Stocks Opened Weak, but Ralliej
After Noon Hour.
BEAR TALK OF TIGHT MONEY
Northern Pacific, Burlington and
Eric Issues Were Features.
GENERAL MARKET REPORTS
pecisl Dispatch 20 The Evening star.

Special Dispatch 20 The Evening star.
NEW YORK. April 16.-The market for
American securities in London this morn
ing opened extremely dull, dealers on that
side OF the water apparently waiting for
New York's initiative. Prices IN that mar
ket showed some irregularity. Mexican
National however. was a strong feature In
the dealings. Louisville and Nashville was
about equal to our closing price. while
Southern Railroad preferred was a shade
higher Atchison issues were " to J. lower,
but there was no pressure to sell.
In the local stock market the opening
showed further irregularity I'm prices. On
the whole. reactionary tendency pre-
vailed.
The uncertainty in regard to the money
market was factor in spite OF the caution
which has been on the increase In specula-
tive circles of late This uncertainty, ac-
cording to the views of some "sold-out"
bulls. has been harped upon I'm the street
Tor some weeks and while there may be
ground Tor the fears of tight money, II GER
tainiy does not now appear at hand, nor is
1t really looked for by some OF the best
posted financiers of the street. There was
1ree proflt taking this morning, however,
on the above theory-namely. that money
would work a little higher-and the sales
OF stocks in the early dealings found a
somewhat reduced buying power under the
market.
Metropolitan Traction opened with a
sharp squirt upward OF 2ss percent, but this
was soon followed by q decline Of nearly z
per cent.
United States Steel issues were heavy on
sensational talk of imminent labor troubles
Ihe trouble at Mckeesport, Pa, was point
ed TO as beginning of Il. The stocks
however. We're well taken and recovered
some OF the early loss In the afternoon
market.
Rock Island was the weakest feature OF
the railroad list at the opening. There were
recessions or i per cent or over I'm nearly
all the departments of the market on the
start. and the speculative temper was de-
cidedly unsettled.
AT the end OF the first hour the market
was still feverish. and It was stated that
the commission houses were looking with
disfayor upon the wild bulges occurring In
three or four active stocks on the list and
adVising caution. Good houses I'm the street
ADVISE the taking OF profits. and this helps
TO make the market SO irregular. These
same people are not looking for any Sc
rious break in prices, but think a rea ction
or from 3 to 3 points would clear the way
Tor new purchases and be the means Of
giving US q steadier market
Sugar and tobacco stock were strong
features OF the speculation almost the en-
tire DAY, and the people who are in a posi-
tloh TO know about these specialties expeot
20 see them sell much higher this sumner
This Is especially looked for IN the first
named speciality, as the company has been
making great deal Of money of late. and
1nere ls quiet talk OF an increase in the
dividend rate at the next meeting.
In the afternoon trading the market be-
game very active and a much stronger tone
developed.
Northern Pacific. Burlington. Sugar ana
the Erie issues were the greatest features
Of strength. all Of them selling well above
any previous prices since the bull move
ment began. After the delivery hour the
market quieted down somewhat but the
, tone was much improved over that OF the
carry morning, and the reaction looked for
was not In sight Erie issues were a strong
feature In the late trading. the price of the
common stock crossing 40. on very large
transactions.