Evening star., 1902-03-17
FINANCE AND TRADE
Good Buying in London of
Southern Pacific.
GOULD GROUP STRONG
AMALGAMATED COPPER UNDER
PRESSURE AGAIN.
Stockholders Fear That the Next Divi- !.
dend May Be Passed in
April.
GOULD GROUP STRONG
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, March 17.-Opening prices
this morning We're moderately steady, with
mere and there fractional gain of IA to 1,
per cent. London sent over q higher range
OF prices and was buyer in the local mar
ket, taking in all about 10,0Oo shares Ai-
vices from that center indicated a hopeful
feeling for the future of American railroad
shares. Southern Pacific is especially in
favor in the London market and indications
point to the probability of pool methods be-
ing extended to that market.
There was good buying of the stock on
this side In spite of the fact that Mr. keeue
is about to leave the city for a vacation of
a few weeks.
The Gould group was stronger. as a re-
suit of better crop conditions In the south
west and an increased interest on the part
OF friends of these properties, Missouri
Pacthc was forced up under the new de-
mand and rumors of n strong market or
ganization to advance the stock were freely
circulated Rock Island was advanced for
a time. but later in the day reacted slightly
under mixed selling.
The high-priced shares generally were al
ternately strong and weak. Dullness inva-
riabiy set in at he declines. and the street
was convinced that the buying was Supe-
rior to the selling.
In the industrial department there were
several substantial changes In prices as the
result of special movements. Amalgamated
Copper was under pressure during a great
er part of the day and the support. even
from the short interest, was insignificant
In Boston the next dividend on $500
shares OF this stock was offered at y of i
per cent. 1t Is too early to predict with
even the ordinary degree OF certainty what
the next dividend on Amalgamated Copper
Will be or whether any disbursement will
be made in April, but the condition of the
copper market would indicate that practi-
cally nothing has been earned. With cop
per selling around cost there can be little
In the immediate prospects for shareholders
In overcapitaIizing concerns controlling less
than majority of the output.
Selling of American Ice shares was re-
sCmed on a liberal scale, a new low price
level being recorded. Talk OF opposition
and loss Of valuable privileges granted
by the former municipal government was
responsible for the new selling.
Westinghouse Manufacturing and Amert-
can Sugar were In better demand and made
some gains in price over Saturdays level.
The traction shares were strong during
the morning under buying based upon pre-
Brooklyn Rapid Transit Steel shares were
strong, the plan for retiring United Steel
preferred for a per cent bond meets with
favor in numerous quarters solely because
Of the confidence felt in the management
Of the property
The doings OF the management of a cor
poration with business conducted upon
scale as comprehensive as that of the gov
ernment itself are not easily grasped. but
a Skillful handling of past events Is entitled
to reasonable amount of confidence In flu
ture plans. Present prices indicate that
shareholders are not dissatisfied. Money
ruled around 4 per cent. but some lending
above that rate was feature of the mid
day market Storms in the west led to
some selling during the last hour. and final
prices were irregular In consequence.