Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-04-02
Today's Stock Market Dull
and FeatureleSS.,
PRICES WERE KEPT UP
SHORT COVERING AT CLOSE
HELPED THE LIST.
Good Buying Of Some Of the Coal
Roads in Spite of
Strike.
Dispatch TO The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. April 2.-The market In
London for American railway shares was
quiet and, with the exception OF Louis
Vile and Nashville. up Y per cent, prices
In that market were about up to our clos
ing figures of yesterday. Rio Tintos were a
shade higher at 1876.
In the local stock market there was an
other very quie. opening initial dealings
being almost entirely professional. Be
yond the slightly higher opening for Anal
gamated Copper stock the general market
was featureless
Amalgamated opened from GO down to
65ls on sales Of about 1900 shares, con-
tinued down to 65 is. and then made a
slight recovery In price. Anaconda, not
withstanding reports OF a strike OF the
hoisting engineers at Butte, displayed con-
siderable strength. selling up from ia to
1l9. Sugar refining stock in the first few
minutes of business was sold down for a
loss of IL from the opening figures, when
supportive orders were encountered. and
the price advanced q per cent. Colorado
Fuel acted little more nationally, the price
shading off an extreme "a per cent from last
nights figures.
Car and Foundry issues were again weak
losing over a point, on the poor showing
made by the company for the quarter ended
February IS, the decrease in net earnings
being sl3S.O00. This decrease, IL is stated,
was caused by the inability of the company
to secure sufficient raw material TO keep its
plants in full operation. In this respect
however, there has been some Improvement
in amount of raw material obtainable in
the past few weeks. and 1t is stated that
the present rate OF dividends is to be main
tanned.
The United States Leather stocks were
again conspicuously active and strong, the
preferred advancing over a point from
yesterdays highest, while the common sold
up to 14le in the early trading. The con-
tinued strength and activity in these is
sues lend color to the rumors that the
company Is about to do some financing
that will remove the &c per cent preferred
dividends now in arrears and leave the
way open for the common stock to receive
something in the way of earnings.
The United States Steel stocks held firm
on the publication Of the earnings for the
year, showing net earnings to be Sill .O67, 1875
and surplus S24. 49, III. The estimated
March earnings were given as 50, 100000
net The bond conversion plan of this cor
poration has been ratified and will he acted
upon at special meeting on May 10.
In the railway list there were some small
recesstons at the start in nearly all OF the
active grangers, but no pressure to sell was
noticeable. In the coalers there were mod
crate improvements in Reading second pre-
ferred and Erie common, while the other
anthracite stocks held steady
After the first half hour OF business the
market became dull and irregular. Toward
noon the market enjoyed a little rally on
covering of shorts by the traders.
st Paul gained seven-eighths Union Pa
chic three-eighths, sugar advanced three
quarters above the opening price, which the
general list scored fractional advices.
Hooking Valley preferred and common
were pronounced by. strong and somewhat
more active than usual. There was no news
TO account for the per cent advance in
both the preferred and common shares OF
this stock, save that the Specialist in
those issues reported a steady accumulation
of it for the past week or more and In the
absence of stock offerings, the price is
easily advanced.
Par is talked of for the preferred. while
the common is expected to move up in pro-
portion.
The little rally the market enjoyed I'D to
O'Clock did not infuse much life into the
trading and prices. with possibly one or
two exceptions, were barely steady up to
the delivery hour. When this traders mar
ket Is to give place to something more
tangible In the day Of a bull movement is
hard to predict. probably not before some
thing definite to the outcome of the
Northern Securities Company case or some
real favorable news in regard to the crop
situation is received.
The $15.O00,0O0 of new stock to be issued
by the Rock Island road will. it is stated,
furnish the means for important extension
to the Gulf of Mexico. and perhaps toward
the Pacific coast The contemplated south
err extension Will run from Forth Worth
to the gulf, traversing the oil fields. North
ern Pacific reports gross increase of SOS $50
for third week of March: for fiscal year
gross earnings increased Sc, 499, 662.
The shorts in Amalgamated Copper stock
are beginning to get little restless. while
the stock itself has gained a little in price
each day for the past few days, and IL is
quietly limited that the price OF the metal
will be advanced shortly Y cents per pound.
1t is also rumored that the regular 1 per
cent dividend will be declared on Thursday,
April "a, when the directors meet.