Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-04-24
Bulge in Union Pacific the Feature Of
Stocks Today.
PRICES BROKE At THE CLOSE
Bulls and Bears Contend Hard for
Control.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star
NEW YORK, April 24.-The depression
recorded at the close of yesterdays market
was relieved by a more cheerful speculative
prospect in London and a higher range OF
prices at that center for American issues
Foreign houses had considerable volume
or buying orders for execution in this mar
ket, under the influence OF which prices
rallied in all departments.
The feature of both the local and the for
eign markets was Union Pacific. the deal
ings in all issues being extremely heavy.
The common stock scored an advance OF =
per cent under buying credited to an inside
pool and the uptown contingent OF western
new convertible bonds came In for con
siderable share OF the dealings. one pur-
chase OF SJo0,o0o OF the latter being regard
ed as OF especial significance.
Inc movement was accompanied by
rumors of a closer connection with Chi
cago and Northwestern, probably n lease
by the latter. The advance continued with
out much interruption until around deliv
cry, when heavy prof1t-taking forced r
sharp decline of per cent from the high
point. During this time the rumors of an
immediate deal along the lines suggested
early in the day were denied.
AS was the case yesterday, selling became
heavy during the last hour, and I'm numer-
Gus instances all OF the early gains were
lost The entire week has reflected a con-
test between the two market factions. ana
some time during the day. The selling has
OF late been dominant toward the close OF
the day, and this fact has given rise to
fears that many influential pools have been
unloading under cover OF the activity In a
few specialties
There can be little doubt that such has
been the case In two or three Instances.
but there is no evidence that such action
has become at all general
The Burlington announcement is conf
IDENTIFY relied upon to force the stock over
200 and to stimulate the general market.
The former prospect IS the more likely.
since the general market needs new mate
rial and not merely the reafflrming of an
over-dscussed scheme.
The southwestern operation. including as
1t does Missouri Pacific. Texas Pacific, Wa
bash and numerous other properties, would
attract more attention perhaps than any OF
the delayed projects.
The local situation Is a disappoint n ent
inasmuch as the traction stocks fall to
hold their advances or to assert their indie
pendence in times OF reaction. The gas
stocks. particularly Consolidat ted, were de-
cldedly weak today. both from realizing
and a want of support.
All things considered, the market IS like
~ to be more attractive to sellers than To
buyers on the hard spots. A considerable
short interest has been created In a few
stocks. sugar for example. and forced
The City Bank will ship $780, 600 gold to-
morrow. but 1t is not likely that the for
elgn houses will ship before Saturday III
then The moving holiday on SATURDAY. will
crowd large volume of business into to-
morrow and Friday. and the present ir-
regular market seems likely to prevail
through the remainder of the week