Evening star., 1901-04-17
Stocks Opened Weak, Rallied and
Reacted at Close.
THE STEEL SHARES WERE HEAVY
Due Mainly to Expected Labor
Troubles in the Trust.
GENERAL MARKET REPORTS
Special Dispatch TO The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, April 17.-The features of
the London stock market this morning In
the American department were Southern
Railroad preferred and Mexican National,
both of which showed advances OF a ana
n per cent. respectively over our closing
Of yesterday. Other internationally listed
shares were steady and about on a parity
with our close.
In the local stock market prices at the
opening were somewhat lower and spec
uiative temper displayed rather a weak
tone. due, 1t was said, to nervousness over
the possibilities of labor troubles at the
plants of the u. S. Steel Corporation and
to disappointing London quotations sent
over this morning. Then. too. a great deal
of profit-taking was invited by some of
the sharp advances which took place yes
terday afternoon.
While the United States Steel issues were
little heavy on account of the labor trou-
BILE talk. the reaction in the standard rail-
way shares was not serious, and after the
ilrst half hour of business many recoveries
took place. Chicago terminal stocks con-
tinued to show the effect of the heavy
LIQUIDATION which occurred in these shares
Monday and yesterday. The stocks. how
ever, showed some recovery after the
first drive at them and while developments
may be slow in this property, good people
have not lost faith in them as to the ulti
mate outcome of pending negotiations.
A great deal Of the selling this morning
was on the usual theory that the Burling-
ton deal would be found to have been
discounted when the announcement was
made some time today, while Erie
stocks were said to have been sold
on reported Hill interview to the ef-
feet that the road would not be a formal
party to the transaction. On the early de-
cline some very good buying was noted. and
after the first hour II looked as IL the up
ward movement would be resumed and the
next big deal would be in the southwest
ern territory. stock of that group, like
Missouri Pacific, Kansas and Texas. Texas
Pacific, St. Louis and San Francisco and
st. Louis and Southwestern issues came I'm
for sharp advances in the early forenoon
Among the industrial shares Sugar and
Tobacco stocks all showed marked strength
and were well bought all reactions.
Union Pacific was well bought and it was
claimed the stock was entitled to an ad-
vance even in the absence of any new de-
velopments pertaining thereto.
Pool buying was said to have been In
evidence in Western Union stock. After the
noon hour another reaction occurred. helped
Some ~ hat by a dispatch from Boston stat
ing that no action was taken by the Bur-
lington board of directors at their meeting
today in regard to the Hill purchase. The
subject discussed. but no final action
taken. The street however. was inclined
to accept the deal as settled and that 30 in
bonds would be the price paid for Burling-
ton stock.
Sentiment was very bullish on Colorado
about $4,000 shares-buying on balance.
Money worked up to 81, and then down to
Az per cent. After the delivery hour the
market again showed a reactionary ten
dency, and values gradually weakened. with
few exceptions, to about the lowest of the
day.