Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-02-17
Dealings Confined to a Mar
row Line of Stock.
STORM HURTS TRADING
WIRE SERVICE POOR AND TELE-
GRAPHIC ORDERS LIMITED.
Among the Industrials Two or Three
Issues Commanded Attention
Slight Gains in Railroads
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, February 17.-There was
some irregular movements in American
shares In the London market at the start.
but In the later market there a majority Of
the stocks showed fractional advances. IL
the local stock market business was con-
fined to a few stocks at the opening on
account Of poor wire service to out-of-town
clients, the heavy sleet and snow storm
greatly retarding Geographic orders.
Two or three industrials monopolized the
attention of the traders at the start, the
most activity being in the copper shares
Anaconda, after opening up two points
further advanced nearly four points before
the end Of the half hours trading. Amalga-
mated Copper was the heaviest dealt in,
and after a gain Of y at the start, advanc-
ed rapidly for a further gain Of IN per
cent. The United States steel shares also
showed good strength, and the same was
true Of Shelters common, which gained
nearly 1 per cent on buying by the pool
which has been active In that property for
the past two weeks.
TIE activity and strength in the indus
trials had sympathetic effect upon the
general list, the active railways gaining
slightly, but were not as active as yeste1-
day. owing to interruption to the wires.
In the local traction shares there was
sit and Metropolitan. and both stocks were
advanced about 1 per cent. After the first
hour Of trading there was some good profit
taking in the copper and traction shares.
causing reactions Of about per cent. This
started a general selling movement, in
which the bears became very aggressive.
New York Central and the Fries being es-
pecial targets for short selling. and both
found only fair supporting orders.
The selling was SO persistent and heavy
that the active railway stocks generally
lost from " to Y per cent. Pressure on
Sugar caused that stock to react over q
point Tennessee Coal and Iron was con-
spicuousy strong during this setback, the
stock rallying sharply over I per cent on
active trading. Another exception to the
reactionary movement was Colorado Fuel
and Iron. which gained about I per cent.
possibly out of sympathy with the sharp
rally in Tennessee Coal and Iron.
There were rumors Of gold exports. but
no actual engagements. and the selling
seemed to be the outcome OF profit taking
more than anything else, as there was no
special news to affect the market adversely.
The market Gained down some around
the noon hour, with prices q shade better
than the low figures reached after the SELL
ing movement
Sales Of stock up to midday were 2ee, 900
shares. In the early afternoon there were
some recoveries in the traction shares and
In the copper stocks, but trading was not
as active as in the earlier speculation, and
the undertone generally was not al firm al
A careful watch is being kept on legisla-
tive moves at Washington. and a good deal
Will depend upon the passage or non-pas-
sage of the Aldrich bill, the opinion being
that this measure will greatly offset the
effects of antitrust legislation as a market
factor. In the late trading speculation ran
to the industrials, and there were special
movements in those stocks, the principal
activity centering In American Locomotive
securities, in which there were good gains
In both the common and preferred issues.
These stocks have been quietly accumu-
lated for some time, and good judges OF
their merit predict higher prices for both
classes of the stock. The general market
continued inactive at some recovery from
the lowest prices Of the forenoon.