Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-04-17
Stocks Were Irregular, But
News Was Favorable.
COALERS WE'LL BOUGHT
STATEMENT BY MoRGANS HAD A
GOOD EFFECT.
Attempt to Boom Stocks Of Minor
Roads Was Not Altogether
Successful.
Special Dispntch to The Evening Star.

Special Dispntch to The Evening Star.
NEW YORK, April 17.-Today's stock
market was decidedly irregular. in spite OF
the fact that there was a more cheerful
tone in commission house circles. A very
positive statement from Morgan sources
that no danger existed In the Louisville and
Nashville situation helped sentiment, but
allowed the stock directly concerned to
shade off under moderate dealings. The
low-prfced stocks, which came to the front
at the close of yesterdays business were
active during the opening hour. but failed
to absorb attention.
The new buying went into the coal shares
very largely, the Reading issues responding
easily to increased demand. The buy
ing of the Reading common shares and the
second preferred was in good volume and
came from houses close to the inside. Ru-
mors that the control of the road would
be acquired in the open market to over
come the possible disadvantages of the dis
solution of the voting trust were revived
and received some credence in conservative
circles.
Atchison was well bought by commission
houses and advanced beyond 81, the pre-
ferred stock sharing only moderately IN the
improvement. Inside interests were report
ed as buyers of Western Union. the stock
showing more demand than at any time of
recent date. Gould activity was also noted
In their western railroads. the Denver is
of business
w ME tne market developed strength IN
the stocks named above there was effective
selling in St Paul, Union and Southern Pa
enc issues. The Gates party were said to
DC realizing In certain directions but the
increased activity in Colorado Fuel was
set down to that interest.
The frregularity in the railroad list was
followed by no material declines. but It
reflected a somewhat nervous shifting of
accounts.
The idea that every small road in tho
country was to figure in an episode similar
to Tuesdays display in Southern was not
Wen founded, and the leaders OF the market
were not disposed to encourage action along
such lines.
In the industrial list there was a better
demand for the Steel issues Morgan inter-
ests being credited with purchases both In
New York and London. Rumors that the
company had taken In one or two inde-
pendent concerns were revived.
The buying of American Locomotive
shares was effective, both the common and
preferred shares showing substantial gains
ThiS company has orders booked well
ahead, and the inside interests are said to
be encouraging a distribution of stock The
declaration of y of 1 per cent for the cur
rent quarters dividend on Amalgamated
Copper was In line with expectation and
no violent fluctuations in price followed the
announcement.
The stock declined / per cent from the
morning price, but this action was not be-
cause OF any special surprise over the dIyi-
dend. The Express issues were strong on
consolidation rumors and numerous in
active shares made moderate gains Money
ruled moderately easy all day. getting
down to per cent during the last hour
The subtreasury has been gaining specie
from the Pacific coast. but the street ia
curious to see how far the Nashville South
ern episode will be reflected in the bank
statement.