Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-09-09
Stocks Strong and Weak by
Turns.
COALERS WERE WEAK
SHARP ADVANCE IN LOUISVILLE
AND NASHVILLE.
Southern Issues Were Strong in Sym
pathy With This Movement
Of Morgan Property.

Special Dispatch TO The Evening Star
| NEW YORK, September BIN the early
London stock market today United States
Steel common was up A-the rest OF the
American shares were. at about parity with
our closing prices. and some irregulari;y
was shown. Later. however. the general
list improved from Is to Ss per cent.
In the local stock exchange the none
tary situation again failed TO produce any
alarm. that factor being pushed aside this
morning by reports OF good weather con-
ditions in the crop regions and the higher
level of quotations In the London mar
ket, the result being a strong opening and
a renewal OF activity in the Gould South
western group of railway stocks.
Most OF the initial interest in fact,
centered around the above-named issues.
ana advances Of Ia in Missouri Pacific,
over L per cent in Wabash preferred, st.
Louis and Southwestern preferred frac-
tionally, after opening up Ia per cent.
Texas Pacific up nearly ] per cent.
Denver and Rio Grande preferred l per
! cent, and Missouri. Kansas and Texas pre-
! ferred and common enjoyed good rallies St
Paul gained over per cent on renewal OF
rumors regarding the traffic alliance be-
tween ii and the Missouri Pacific railroad.
| in which it was stated the first-named road
will be given direct route from Chicago to
Kansas City.
The anthracite coal stocks were not so
strong yesterday and were somewhat
neglected by the trading element, the In
clination being to await the outcome OF the
conference of Governor Stone of Pennsyl-
vania with the anthracite coal officials.
which is expected to take place today, he
having arrived In this city last evening.
In the industrial group the copper stocks
advancing 81, and Amalgamated rose
nearly a point. Pressed Steel Car, United
States Steel, Smelling and yirginia-Caro-
lima Chemical and Chicago Union Traction
a ST OF
After the first half hours trading the
market lost some OF its early animation.
and commission house business was only
moderate.
The market appeared to have been quite
extensively manipulated at the start. The
traders taking this view of things started
realizing, the movement causing a fraction
al reaction up to IL O'Clock, when activity
and strength in the Morgan stocks, South
ern railway common and preferred and
Louisville and Nashville, all OF which were
sharply rallied for gains extending TO over
l per cent in the first named stocks and to
= per cent in the latter.
This movement was attributed to the
Gates crowd. and, helped by some Of the
room traders, helped the general list to a
fractional extent. Money was I to per
cent. with no loans reported.
Around the noon hour there was another
dip in prices. which showed losses OF from
y to over 1 per cent, the latter occurring
in Missouri Pacific on heavy realizing sales.
The denial by Vice Chancellor Emery this
morning Of the application made By the
United States Steel Corporation in the New
Jersey court for an order dsmssing the biz
of complaint against that corporation on
the ground that it was brought to extort
| money and was therefore an imposition on
the court had very little effect upon the
stocks Of that corporation.
In the early afternoon speculation Mis-
souri, Pacific was again the lie der in the
rally that took place. the stock gaining
more than point over the early advance,
reaching 125. against 122@s yesterday.
The local fractions, too. displayed more
activity and strength, Brooklyn Rapid
Transit and Manhattan both showing e. cd
advances.
The Atchison issues and Union Pacific
also enjoyed sharp rallies on what was re
ported as very good buying.
Western Union improved on the an
nouncement of the executive committees
recommendation that the usual quarterly
dividend of Ia per cent be paid.
The announcement of the importation Of
100000 gold sovereigns (S735 .000) from Aus
tralia. to arrive at San Francisco about
October 6. had sentimental effect on trad
ing.
Money around pm. loaned at per cent
Up to 2:30 pm. the market continued to
show good strength and the different bull
pools at work in the market were manipu-
lating their several specialties and unload
ing on the public whenever they discovered
the inclination to buy stocks.