Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-03-09
Advance in Stocks on Short
Covering.
IN LEAD
SOUTHERN PACIFIC MADE GAIN
OF s PER CENT.
Active Fist Showed Gains Ranging
From to 8 Per Cent Over Sat-
rrday's Close. "a
'pecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, March 9.-London prices
for American railway shares showed de-
clines Of from u to q. with the exception
OF Southern Pacific, which was up q per
cent. no
In the local stock, after the bad break
OF Saturday. the opening was generally
fractionally lower and there was great
deal of pressure at the start. but prices,
soon after the opening. steadied. and on
good support in most Of the active shares
fractional rally followed.
There were some sharp breaks. however.
Colorado Fuel and Iron, Tennessee Coal and
Iron. Pennsylvania and one or two other
specialties losing from to per cent.
St Paul and Missouri Pacific were In
clined to improve slightly on good support
ing orders and Union Pacific and Southern
Pactfic both held steadily little above Sat-
urday's low points. New York Central was
rather cratic In its movements, and Louis
Vile and Nashville opened at a decline OF 1
per cent, with very little transactions in
the stock.
After the first half hours trading II was
noticed that the stocks which showed the
least support at the opening were inclined
10 Taily, While those issues in which good
pool support appeared at the start were
inclined to sag on the improvement else
where In the list.
In the local traction group Manhattan
gained ABOUT " per cent after opening up
z per cent from Saturdays closing figures.
brooklyn Rapid Transit opened up X per
cent and then lost IL METROPOLITAN was
prices.
After the first hour the market again
weakened and prices yielded to about OPEN
Ing figures. Money loaned at per cent,
The banks have lost 100000 to the SUBJ
iraa I'D
Of trading the market became dull, with
prices holding slightly above the earlier low
figures
Around noon the market became a little
more active and there was a tendency to
bid up prices on the shorts. This move
nent lasted until about 1 pm. and prices
at that time showed Improvements extend
ing to IL per cent in Southern Pacific. III
per cent In Union Pacific, about 1 per cent
in st. Paul. l per cent in Brooklyn Rapid
Transit and The general market showed
gains averaging from " to y per cent.
Late London prices, however were not
up to the level of prices in our market
The reduction Of " cent in sterling rates
was considered a favorable. factor and
helped some toward rallying prices
In the early afternoon the market con-
tlnued active, and prices again showed
good rallying power, the most conspicuous
advances occurring in Southern Pacific;
which sold up nearly five points from the
opening, Union Pacific. which gained near
ly 3 per cent, st. Paul a gain of 2h, and
Baltimore and Ohio up over per cent
Around the delivery hour CHS p.m.) on a
cessation of the covering movement. the
market reacted from the best prices Of the
day, but the undertone still showed great
improvement over the early morning;
money loaned at Az per cent.
In the late trading the market again
showed good strength and the best prices
Of the day were reached. The runors in
regard to Southern Pacific were that set
tlement had been reached between the pool
and the Southern Pacific control