Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-05-23
Erie Issues Were the Strong Feature
in Stocks.
DRIVE At SOUTHWESTERN GROUP
Bears Were Partially in Control in
Closing Hour.
GENERAL MARKET REPORTS
Special Dispatch TO The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK. May 23-As was expected
yesterday, business on the London stock
exchange this morning was extremely light
and prices for Americans there showed de-
clines of from is to ] per cent, as COM
pared with our closing figures of yester-
day The two exceptions were Chesapeake
and Ohio and Union Pacific both of which
were firm at about our close.
In the local stock market the early deal
ings were simply matter of specIalties.
In which speculation again ran to the Fries
The common stock advanced over / per
cent, and the first preferred recovered 2
per cent after opening off liz per cent.
Strength was also displayed by the Read
Ing issues. Ontario and Western and Chesa-
peake and Ohio. In the last-named stock a
small bull pool was said to be at work
The local fractions were all stronger. but
the little business done in them seemed
only TO come from shorts covering.
Amalgamted Copper was a strong fea-
ture OF the industrial group, the stock ad-
Vancing two points on runors OF a coming
settlement of pending litigation. Anaconda
advanced point. too. in sympathy with
the display of strength In Amalgamated
Sugar and Pressed Steel Car were also
noticeably strong in the industrial group.
There was no special news to influence
trading, and outside OF Erie and Missouri
Pacific-in both Of which there was heavy
neutrality-suspicious. in the general list was
narrow and professional.
Just before the noon hour Northern Pa
CHIC common ran up to 100 the pur-
chase of few hundred shares. jumping a
one time from 175 to 1s5 and again from
100 TO 100 The last sale yesterday on tins
stock was 100.
1t would not be surprising IL the pur-
cnases today represented SOME belated for
elgn short covering, il stated In the
early news that the London stock exchange
general committee meets today to decide
whether short settlements in this stock
shall again be postponed at the forthcom-
ing settlement
In the early afternoon trading the general
market weakened. and a somewhat deter
mined effort was made on the part Of the
professional bears to depress prices. This
was especially noticeable i'm Union Pacific
Missouri Pacific and Atchison. Around ~
there seemed to be plenty of Erie common
for sale, and that stock reacted in sympa-
thy with the receSsions in the general mar
ket to ilaa, where a little support was
reached.
There Were any number OF rumors afioat
in regard to the recent activity and strength
in Fries. One was that George Gould was
buying for control or representation In the
board Of directors. as he wants a New
York entrance for his southwestern system
Another story was to the effect that Har-
riman interests We're buying to get control
from the Morgan-Hin people. Nothing,
however was definitely known as to what
may happen In the future. Good buying
has been going on I'm It for the past few
days.
The market was inclined TO shade or
little in the late dealings, but the !.ears
did not have things all their own way. as
resistance to their attacks were encoun-
tered In most of-the active stocks.
Although S599,os9 in gold goes out to
France today, and other small shipments
are looked for. there is not expected to
be any large drain Of the yellow metal
from this port Money was easy at per
cent.
Action of London Exchange.
LONDON, May Z3-The stock exchange
committee for general purposes decided TO-
day to suspend the buying in Of Northern
Pacific shares until June 10