Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-04-29
FINANCE AND TRADE
Sharp Advance in North
western Stock.
ROCK ISLAND STRONG
GOOD BUYING NOTED IN THE
GOULD GROUP, TOO.
Attributed to the Purchase Of Western
Maryland, With Prospect of
Baltimore Terminus.
ROCK ISLAND STRONG
special Dispatch to The Evening Star

Special Dispatch TO The Evening Star.
NEW YORK April 29.-Prioes were mod
erately well sustained in today's stock
market in spite of decreased trading and
lack of outside interest. London sent
over little or no business and there was
little of interest in the routine develop
ments of the day. Sentiment was generally
hopeful, and here and there a few special
ties were taken in hand and forced into
new and conspicuous positions.
The movements in the shares OF the first
grace were one of the leading features Of
the market. Chicago and Northwestern was
advanced very sharply during the morning
by buying for western account Materially
higher prices are predicted for this property
as the result OF the recent buying by inter-
ests identified with the Rock Island man
agement The plans OF the last named
property are among the most ambitious OF
any contemplated by the several trunk lines
The development of them has proceeded
with unusual quiet, but the financial dis
trict expects to hear the details before the
summer is over. Chicago houses bought
the granger shares from time to time st
Paul. Union Pacific and Atchison all figur-
ing In the advance. A considerable short
interest, particularly in the latter, helped
to force the advance.
New York and Pennsylvania were bought
by strong houses. and the general market
was helped by the action of these high
grade properties.
Michigan Central and Illinois Central
were conspicuously steady, the former ad-
vancing 10 per cent from yesterdays prices.
The belief in a new merger plan, embracing
all the Vanderbilt roads. is partly respon-
sible for these sudden sharp advances in
the investment members of that group.
The coal stocks were strong. the highest
priced members of that group making the
most substantial gains.
Delaware and Hudson was in good de-
mand. profiting by both it's Vanderbilt affill-
ations and the rumors Of satisfactory condl-
lions in the anthracite coal trade. Reading
issues were strong during the morning as
the result Of a steady demand from sources
heretofore noted in connection with the
steady buying of these issues. The common
stock sold up around the best level OF yes
terday and was taken in round amounts
The efforts to avert strike are said to be
meeting with some success. but the public
will await more certain news before taking
hold of the speculative coal stocks.
The success of the Wabash. and, through
it, of the Gould system in securing control
OF the Western Maryland was reflected in
the prices of all the roads in that group.
The Goulds can scarcely be deprived of
reaching Baltimore as a seaport town for
the eastern end Of their trans-continental
system. 1t is likely. however that some
strong opposition will arise around Pitts
burg when the attempt to couple up its new
purchase with that center is made.
Chicago and Great Western was advanced
under a speculative demand, accompanied
by the usual rumors of a desire to secure
control of the road. The movement in low
priced shares was very irregular. the sew
eral pools making little effort to advance
their stocks. Colorado Fuel was marked UP
during the morning, but the selling at the
advance was said to be for a recent pool in
the property and a sharp recession followed.
Amalgamated Copper. Sugar and the Steel
stocks were irregular under moderate deal
ings. Money was easy and crop news fairly
satisfactory.