Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-05-08
Stocks Were Heavy, Inclin-
ing to Weakness.
MARKET PROFESSIONAL
GOULD SHARES SHOWED SOME
STRENGTH AGAIN.
The Close Was Dull, With Little OF
No Out-of-Town
Buying.

Special Dispatch to The Evening Star.
NEW YORK, May 8.-American railway
shares in the early London market were
fractionally lower and consols were shade
below yesterday. But In the later specula-
ton Americans recovered and prices showed
improvements extending to y per cent bet
ter than our final figures of yesterday.
The local stock market presented no new
features of Importance Prices were little
firmer than yesterday, but the volume or
business was no greater. and although most
of the bear rumors of importance put out
yesterday to offset values were found to be
false still aggressiveness on the part OF
the larger interests was lacking. and the
traders. together with a section of the west
ern speculative crowd were running things
to suit themselves. Their sales. however,
did not affect prices much.
The active shares held around yester-
days lower level, where they appeared to
be quietly absorbed by some of the in
terests who still believe the market Is en-
titled to gradual recovery from the bear
market we have experienced for the past
three months.
A good deal Of activity conferred around
Pennsylvania today, but the price did not
show much movement either way in the
earlv trading. The stock sold ex-rights
stock about 3l3 per cent from yesterdays
figures.
The price. at 1914. looked cheap enough
for per cent stock. but there was no
was reported in the initial trading. The
bears were active again in selling Atchi-
son common, Notwithstanding official de-
malls of any new issue of bonds. Some
hour around 80. but little later the price
gave way TO 79h. on persistent selling.
The Rock Island,-Frisco merger, SO far
as outlined. fell rather fiat. the former
stock losing y. and the latter selling off
about l per cent from yesterdays best
price. At the lower level some support was
met, and a fractional recovery took place.
Southern Pacific. Union Pacific. Baltimore
and Ohio were not ACTIVELY dealt in. but
declined fractionally, with such stocks as
st. Paul. New York Central and Illinois
Central account of the heaviness in
Atchison.
The Mexican securities were somewhat
improved, Mexican National preferred SELL
ing up y per cent.
Copper shares continued firm, but Steel
stocks were neglected
Sugar acted a little heavy on the an
nouncement of a reduction in the plice of
refined sugar by the different refiners-
five points by the American sugar refinery,
ten points by Howell Sons-and this was
met later by a reduction of five points by
Arbuckle Bros
ana a shade under yesterdays prices, In
sympathy with the rest Of the list
Inc Gould stocks continued to show good
strength in the face Of sagging tendency
elsewhere In the market. Missouri Pacific
seemed to be pegged around lin. one of
the Gould brokers taking all offerings at
this figure. which was * per cent below the
early price for the stock.
Inc market at noon continued rather
easy, with a little improvement in copper.
and Atchison common had recovered frac-
tiopally, while the rest of the list was at a
standstill.
In the early afternoon trading there was
another selling movement against the ac-
tive shares by the room traders, which re-
suited in slightly lower prices: commission
houses were doing very little for out-of-
town clients, and the larger operators were
not in evidence in the speculation but sup
port came from some quarter as the de-
clines, after these bear attacks, did not
amount to u per cent. There was nothing
IN the way OF news to cause the selling
either, excepting the extreme dullness
which has characterized the speculation for
the past few days.