Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-04-01
FINANCE AND TRADE
The Stock Market Was
Rather Sluggish Today.
LONDON BOUGHT LITTLE
SOME OF THE WESTERN ROADS
IN DEMAND.
Southern Shares Lower Probably on
Account of Damage by
Recent Floods.
LONDON BOUGHT LITTLE

Special Dispatch 10 The Evening star
NEW YORK, April l.-American railway
shares I'm the London market TODAY were
quiet, with prices at about parity with our
closing figures OF YESTERDAY. with the ex-
ception of Union Pacific, common, which
showed shade advance
In the local stock market there was more
OF holiday appearance than that which
characterized Specula ton vest erday.
AS there was no encouragement 10 specrt-
lation offered by the London quotations the
local clement still seemed inclined TO re-
main inactive pending something definite i'm
the way of crop news and the return OF the
more prominent spectators who at present
are out Of the city.
In the railroad list most OF the little
interest shown was centered in a few is
sues. such as Minnesota. st. Paul and
Sault Ste Marie. Canadian Pacific. Chi
cago and Northwestern and san Fran
cisco and ST. Joseph The common stock
OF the nrst named road gained = per cent
on further absorption of the boating sup
ply: Canadian Pacific sold ex-subscriptioa
rights ana It's price. added to the price at
which the rights sold this morning repre-
scented slight gain over last night
The Quotation for these rights this morn
ing was S@s per cent There was a re-
EeWal or the buying in Chicago and North
western common. which advanced that stock
yesterday afternoon. 1t looked like Invest
ment purchases. as there was no attempt
TO bid up the price of the stock.
Hooking Valley was rather a strong fsa-
ture In the early dealings, the stock ad-
Nancing 1 per cent on small transaction
Union Pacific and 81. Paul common stocks
held well the advances they both scored I'm
the afternoon trading OF yesterday While
not so active today, the prices held very
near the best figures of Yesterday. and the
buying said to be for investors rather
than for spectators.
Southern railway preferred showed a lit
tie heaNiness at the start. the price shading
on about Y per cent. presumably on ac-
count of the damage done by the floods re-
ported throughout the south. At the con-
cessiou, however. buying orders were met
and rally bs ok to opening figures ensued.
Louisville and Nashville acted IN about the
same manner. but supporting orders We're
under 1t, Notwithstanding the poor state
ment of earnings for February. which
showed a decrease in net earnings of 81
SO; since July l net figures show q de-
crease of S2ti3 sos
In the industrials the usual ups and downs
were noted in Colorado Fuel and Iron the
price going up or down liz to points at
the will OF the manipulatOrs handling that
issue. Sugar refining stock acted heavily
from the start, on the theory that all Will
not be smooth sailing for the Cuban re-
cGction idea in the Senate The price Of
the STOCK reacted Owe - - -ceIt from
yesterdays highest figures.
In Distillery stock there was an advance
OF over point on good trade reports
Amalgamated Copper advanced over a
point on rumors Of an increase in the price
of that metal. 1t also stated that the
Calumet and Hecla Copper Company was
out Of the market a $ a seller of copper UNI
der IA cents. This company was said to he
a large seller of the metal around IL cents.
The present market quotation for copper Is
understood to be slightly under l2is cents
In the steel shares. after the first half
hours trading. there was an inclination to-
ward betterment. and the same disposition
was also shown by the leather stocks
both the common and preferred gaining
nearly per cent on revival of the rumors
in regard to d settlement of preferred bach
dividends.
Toward noon there was some realizing
In the coal shares the prices of the Read
ing issues yielding FOR point or more The
market. however. was not active and re
cessfons IN the general list We're only
nominal
In the early afternoon trading the trad
ers became little more aggressive in SELL
ing the market, influenced by the Inactivity
of the bullishly inclined operators and aisoI
by rIImored strike on the Erie railroa /
The latter stock. however. was about the
duliest of all the railroad issues and il
looked as if the report was gotten up To
help some of the shorts in that stock Il
cover their outstanding contracts without
loss London was not a factor in our mar
ket the arbitrage houses acting for fol
eigners having very few orders to execut
here. Chicago, Rock Island and Pacific
report for February showed a surplus. afIerl
charges. of $S2i 80. an increas Sc OF $3.50 AGA
Money, 2n per cent.