Evening star., 1901-04-12
Standard Railroad Shares Were
Strong, With Higher Prices,
INDUSTRIAL GROUP DEPRESSED
Rumor of "a Pennsy|vania-Rock
'sland7tAtehyon Merger.
GENERAL MARKET REPORTS
peeial Dispatch to Tbe Evening Star.

Special Dispatch to Tbe Evening Star.
NEW YORK, April 12-Early calcula-
tiors as to the probable loss in cash to be
reflected in tomorrows statement of aver
ages made the amount S1,250,00Q, or less
than one-half the amount Suggested yes
terday- In consequence of this; prospect
many of yesterdays sellers bought back
their previous holdings at advancing prices.
The entire market rallied easily and brok-
ers again returned to the optimistic posi-
tion from which they had been Temporarily
forced by the calling of loans and the
higher rates for money.
Inc pank statement can scarcely be de-
pended upon as an influence for good, how
ever, as the favorable changes, should they
be recorded at all. will reflect adroit book
keeping merely and no actual STRENGTHENING
OF the financial condition. Call money was
again up to the legal rate but there was a
tendency ten ea; to disregard that factor in MAX
high-priced shares was recorded during the
oay' ana TINS fact encouraged confidence in
! the stability of the general market
Ihe coal shares were features under a
big volume of business and all made sub
stantial gains. Lackawanna. Delaware and
Hudson, Pennsylvania and New Jersey
Central showed substantial gains as the
result of this buying.
Erie, Reading and Ontario and Western
came In for considerable proportion of
the demand, also, and responded easily.
Inc buying of Rock Island was resumed in
volume, and the rumors of Pennsylvania
Rock Island Atchison alliance were revived
and not wholly discredited
ROCK Island advanced about 6 per cent
from it's low price during the opening hour
ana the other issues gained about 2 per
cent. Burlington and Northern Pacific were
strong around best prices, and less talk
was heard of the hitch In the deal
An effort is being made in certain quar-
ters TO create the impression that some of
the middle-western roads are upon the de-
fensive, with a tendency toward open hos
tllity, as the result of the Burlington deal.
Union Pacific and lines affiliated with it
are named as being, among the chief OBJ
Jectors to the plan.
AS Union Pacific was invited to become
joint guarantor in the Burlington matter
and only withdrew because of the price to
De pald Tor control, it would seem unlikely
that any serious objections would be urged
at this late day to the main features Of the
transaction. Union Pacific and all the
hartman properties were strong through
out the day.
Activity in the Chicago Terminal shares
was feature of the afternoon, prices
advancing easily under a good demand.
standard Oll interests are reported to have
acquired control of this property, and plan
Encouragement Of its securities upon a
Pfohtabie basis to present holders The
buying today was in great measure
speculative. as the result of rather wide
spread professional recommendation of the
two issues. 50 'i =
The Steel stocks, Sugar and Amalgamated
copper were active, but irregular Profit
taxing was In progress in all of them and
the manipulatton was withheld. Rumors of
bond purchases by the treasury helped to
inspire cenfidence 'inathe money market to
some extent; and such confidence is essen
tial to higher prices lat this juncture. The
various big deals arH held in allowance on
this account bot. such delay should be tenn
porary IL the usual forces a re to be depend
ed upon In turning the tide of money back
to the center after the middle of; the