Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-04-16
FINANCE AND TRADE
Normal Conditions on Wall
Street Today.
CHEAP STOCKS BOUGHT
MORE GOSSIP ABOUT LOUISVILLE
AND NASHVILLE.
Buying of Southern Said to Be for Pro-
fessional Motives of J.
w. Gates.
CHEAP STOCKS BOUGHT
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK April 16.-The course of
prices in today's stock market was more
nearly normal than at any time during the
week. The explanations OF the Southern
Louisville and Nashville deal were regard
ed as vague, but. on the whole. reassurlng.
One view was that the Gates party had
bought a considerable holding Of Southern
merely TO insure their new position as fac
tors in the railroad world
The atmosphere was decidedly improved
by the conservative methods employed by
the Gates party in view of the opportunity
for making an unpleasant market episode
from the corner which they could have
worked to their individual profit. but only
at the expense of disastrous shock TO the
general market. Wall street is still dis
posed to look upon the new element in the
light Of intruders. but however unwelcome
they may be. they are the undoubteded
leaders Of the new crusade.
Southern issues and Nashville moved
about within narrow limits under vol
ume of business not materially larger than
the ordinary. Yesterdays buying of South
ern was considered to be something more
than mere within to accumulate stock OF
make market for a day. and some fair
buying came into the property IN conse-
quence.
The chief feature of consequence today.
however. was the sudden demand for nu-
merous low-priced shares not recently very
active. Wisconsin Central came in for a
large share of the demand and advanced
easily in spite Of scattered selling Rumors
that larger road would take over the
property inspired the advance. Chicago
and Great Western was in better demand
because of the belief that the time is not
far distant when larger road must pro-
vide against rate-cutting tactics from this
system by buying up the property.
The new interest I'm Colorado Southern
again advanced prices in that group and
much capital was made of the fact that
interest figured in the settlement of the
Nashville episode. The low-priced stocks
are coming into favor. commission houses
reporting improving demand for such
properties. Northwestern and St. Paul were
strong and weak by turns, but the buying
was called good.
Atchison was well bought and Is believed
by many good judges to be relatively cheap
when its earnings and independent position
are considered. There was revival Of buy
ing IN the Gould group. notably in Texas
Pacific, and there were rumors that Wabash
plans for securing control Of Western Mary
land We're improving.
The buying Of certain Industrial shares
was better than the average although the
group. a whole. decidedly irregd-
lar. international Power was marked up
81 per share above last nights closing
level, as the result of the proposed extern
s!ons OF business. Amalgamated Copper
was heavy, the result of the cut In the
Anaconda dividend. Sugar was strong on
Washington advices predicting an carly
vote on the Cuban bill Steel stocks were
heavy under good selling. The coal stocks
all showed better tone and are gaining in
favor.