Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-04-15
FINANCE AND TRADE
Stocks We're Stronger in
Wall Street.
BEAR RAID BROKEN
BETTER FEELING TOWARD THE
WHOLE LIST.
Scare Over Northern Securities .Dec1-
sion Gradually Losing Its Effect
on the Market.
Star.

Special Dispatch to The Evening Star.
NEW YORK, April, 15.-London prices Tor
American railway shares were fractionaily
higher than the closing figures here yester-
day.
In the local stock market the opening
displayed less activity than yesterday MI
tiaI dealings and the tone was somewhat
irregular, with possibly majority OF the
actively dealt in shares slightly below yes
terday's final prices-which, it must De re-
membered were the highest OF the da!'
the late sharp advance being caused ny
a report that the Northern SECURITIES Case
was to be compromised. This story, how
ever, was denied before the market opeheo
this morning, and led good many 10
think it's denial would cause another preaA
in the market. In this. however, they were
mistaken. as the bear liquidation OF yes
terday and the day before seems to have
pretty we'll cleared up the market of weakly
margined accounts.
In the initial dealings the price changes
were unusually small. Some pressure was
noticed in Union Pacific, which lost 70 per
cent; in Missouri Pacific, which reacted "
and in Pennsylvania and Canadian Pacihc;
the latter losing rs Per cent. Amalgamated
Copper, after opening fractional loss, re
covered with some strength for gain OF
over point on the improved metal situa-
ton abroad and the strength or Inc copper
shares in that market. -. - e.
Sugar was slightly improved on advances
in the price of the refined article by all the
refineres, Arbuckle Brothers leading in the
restoration of the cuts made only week
or so ago, when so much was heard of re-
newal of the sugar war.
Baltimore and Ohio was helped consider
ably by it's very favorable March statement
and the statement Of nine months earn
ings which followed, showing considerably
over a million and a half in net earned IN
that period notwithstanding an increase
in expenses of 81 1923. 701 for the same period
After the first ten minutes Of trading
the market became active and strong, the
rally that followed. and which lasted up
to noon, carrying the active stocks up
from 1 to IA per cent. The tone OF the
market at that hour continued to show
good strength, and the traders were very
hopeful over the good trade reports. the
better monetary situation and the increases
shown in the railroad earning reports
There was also a very much more tran
quill feeling regarding the Northern Securi-
ties case. as it is known that at least sixty
days will elapse before the appeal of the
decision in that matter will be considered
by the Supreme Court unless some COM
promise measure is reached in the mean
time.
The subtreasury lost s735.OOO to the
banks yesterday, and since Friday they
have gained s1,325 600 from that institu-
ton.
Foreign houses did not do much in our
market this morning, nor did the larger
commission houses show any important in
terest in the speculation. The Manhattan
railway stock was not adversely affected
by reports of still pending labor difficulties
to be settled.
Sales of stock up to noon amounted to
335, 200 shares and s., $4,000 in bonds. In
the early afternoon trading the market
continued to show good strength. the active
stocks. like st. Paul, Missouri Pacific. Bal
timore and Ohio, Atchison, Pennsylvania,
New York Central, Union Pacific, Louis
vile and Nashville. Sugar. Copper and the
Rock Island issues all showed further rail-
lies extending to about 1 per cent in the
stocks mentioned, or from to 49, per cent
above yesterdays low prices.
There was no pressure to sell noticeable
anywhere in the list nor was there any
particular effort to bid up prices, which
was construed as a healthful sign. In the
late trading the market became rather in
active, but prices were only fractionally
lower on some realizing sales to take
profits. A feature Of the late trading was
a strong advance in Metropolitan Traction
railway stock. on buying probably to cover
shorts. helped possibly by some favorable
developments in the Amory suit now going
on in this city.