Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-04-09
FINANCE AND TRADE
Stocks Opened Strong, But
Broke Later.
DUE TO DECISION
IN CASE OF NORTHERN sEcURI-
TIES COMPANY.
Traders Sold the Entire List and ths
Losses Reached Several
Points.
DUE TO DECISION

Special Dispatch to TIE Evening Star
NEW YORK. April s.-Eariy London
prices for American railway shares today
showed advances Of from 4 to 1 per cent.
Consols for money were lie lower.
In the local stock market the opening
though only moderately active. was gener-
ally higher, the only exception being Colo
RADIO Fuel and Iron. which was down " per
cent on a renewal Of selling. prominent in
this stock during the past week
There were advances in the general mar
ket soon after the opening on a better de-
mand for stocks from the short interest
the most prominent feature being In Sugar.
the price of which was advanced about 2
per cent In the first half hours trading on
buying for those who were led to 20 snort
of the stock few days ago on the rate
cutting by the Arbuckles.
Manhattan. Metropolitan. Brooklyn Rapid
Transit and the Gould issues all showed
good fractional advances. and the improve
ment In st. Paul. which was not as plenti-
ful In the street as heretofore was a help
ful factor, as 1t tended to show that the,
standard OIL people are not now averse to
higher prices in that stock and possibly
elsewhere In the market.
copper shares were also well thought OF
ana gained over l. per cent, the theory
Defng that there is not likely to be any fur
Their reduction In the price of the metal, and
at the present figure the copper companies
are expected to make handsome profits
the better tone in Southern Pacific and
In Union Pacific were both ENCOURAGING
FACTORS. and the belief was general that
there had been some good inside buying in
the past few days by the banking interests
identified with those securities. 1t was
also said there had been some investment
buying of Southern Pacific at these lower
levels by bargain hunters who were salts
ned the stock was worth its present price
no matter what happened to the pool in
terest
The steel issues were somewhat stronger
today on rumors that the Morgan brokers
were active buyers yesterday and today.
The early dealings tn the bond mafket
were better distributed and prices were a
little frmer
There was some further pressure in the
ROCK Island securities. but the prices did
nee decline very far from yesterdays clos
ing figures.
dizziness developed. which was attended by
fractional recessiOns In the general list
reward the noon hour the market gem
orally strengthened up considerably. st.
chic y, and there were good rallies through
out the list.
London bought about 10000 shares The
indications for the bank statement Satur-
day are of favorable nature and this
Induced a renewal of the short covering
conspicuous in the London market and In
the early trading here
In the early afternoon the market had
short break on a report that the North
ern Securities case had been decided in
favor of the government
On this announcement heavy selling all
around the room precipitated decline OF
from IL to per cent in most of the active
shares. From this level some support came
into the market and a practical rally fol-
lowed, but the trading was very much
mixed and the undertone was not az strong
as in the earlier trading.
1t Is now expected that the Northern Sc
curftfes case will go direct to the United
States Supreme Court on appeal In the
late trading the market again weakened
on the fndfscrfmfnate selling that followed
the announcement OF the decision In North
ern Securities case. Money rates were run
up to 10 per cent. which also had some ef-
feet on the trading temper. which was
generally bearish, too much SO really to
last long.