Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-04-19
Union Pacific Was the Mar
ket Feature.
GOOD BANK STATEMENT
PROFIT TAKING DID NOT BREAK
PRICES SERIOUSLY.
Increased Interest in the Low-Priced
Issues a Noteworthy Incident
Of the Week.
The Eveninc Sfnr

Special Dispstch to The Evening Star.
NEW YORK, April Happening prices
this morning were generally steady in spite
OF liberal profit taking in certain parts or
the list The volume OF commission house
buying was called good. and the demand
was well distributed. Pool efforts Were
conspicuous, and some new high records
were made. London was a buyer on a
SCALE and was inclined to follow any lead
from this side in the standard shares and
steel stocks.
Union Pacific common and the convertible
bonds were literally traded in and were
the real features of the market. The west
ern contingent were active in these issues
and seemed to have a well-conceived plan
in process OF successful operation. Colo
RADIO Southern issues were active, and the
new management is relied upon to make all
three issues take better position In the
market. The second preferred stock may
be retired later and the buying OF that
particular stock is especially good in con-
sequence.
Fort Worth and Denver City, controlled
by Colorado Southern, sold at 80 during
the day, and rumors of the retirement OF
this issue for bond are also numerous
but lack confirmation. The stock is almost
certain to receive favorable attention in any
new financial plans that may be agreed
upon Tor the Colorado Southern. Southern
Pacific was strong. but gained only a frac-
ton. Reading held it's advance of yester-
day and Atchison issues were only steady
Illinois Central was advanced under good
buying, and several of the high-grade in
vcstment shares reflected a splendid I'M
dertone. The chief development of the
week has been the increased interest in the
low-prlced Issues The public is coming in
to such properties and there is a fair
chance for activity In them pending more
definite crop news.
Thn r-rNta g.. q
selling movement in American Sugar be-
cause of the undesirable clause removing
the differential duty on refined sugars.
AT the low prices the buying was called
good, however, and the bill is likely to get
back into more favorable shape before pass
ing into law. The steel shares are steady
under demand thought to indicate a more
comprehensive policy on the part of the
United States Company.
The bank statement was more favorable
than had been anticipated and its publica-
ton resulted in a strong closing in the ac-
tive shares. The gain in lawful money was
$Sjb, 100 and the decrease in loans exceeded
So,SU,OO0. The changes in 1.-THE two items
named are especially gratifying.
That the heavy dealings in Nashville and
Southern should have made no impression.
or as little Impression, on banking averages
is but another evidence of the unusual
character of the present stock market. De-
posts decreased A,5S1,1o0 and the surplus
reserve is increased So, OO6 900 or to a total
of Sc, lS1 $50. The fact that the entire state
ment is made up of favorable changes con-
firms the belief that a large proportion OF
the funds employed I'm the new trading 10
supplied by the west and Europe.
The week has averaged more than a mil
lion shares day and the buying has been
of character to demand ready access to
millions of dollars in cash. Had there been
no help from outside today's bank state
ment would have been an impossbiluy
The western element is spending western
money and the older houses through Mr.
Morgan are probably borrowing in Europe
The volume Of business today was up
to the weeks average, over $4,000 shares
of stock and more than 81 I:59 900 in bonds
par value, being traded in. Important de-
velopments are promised during the coming
week.