The evening world., 1903-11-06
Steel IMPROVES
IN STRONG MARKET
'WithaI the Issues Which Had
s Touched New Low Records
Benefited by Rise in Prices
at the Close.

G
Stocks CLOSED strong but dull to-day,
with the list excepting the steel issues.
showing net gains. Steel shared I'm the
advance, however. finished with a
fair showing. The fractions were notably
strong. :,
with the STEELE stocks out of the way
n whole market would have been
htrong to-day. But even with the de-
pressing effect of ever lower prices for
these Issues the general market acted
well and. showed excellent strength. At
h opening Steel. preferred sold at
p41-4 and the common at 10 "a. The
bonds opened at 66 3-4. At the close the
preferred sold at So 3-s and the common
nj IL. where they were well supported.
Ono house was said to have an order to
buy 10000 shares of the common at 10.
In h first hour the total sales of steel
Issues were III. 900 and the total sales
of all issues was but 24s, 900 shares. This
proportion was almost maintained
throughout the day. as 1t was yesterday.
when half the days transactions were in
the steel stocks.
IN spite of the weakness Of Steel the
railroads acted well. and rarely did they
drop more than Il fraction on zach de-
cline In Steel. Steel all dny
land the whole market acted with it. but
in n less degree. r5e tendency was for
the railroad stocks to cut loose from
the Steel issues. Several times when
Steel xas selling off the railroad list
was advancing.
Atchison. Union Pacific. Canadian Pa
cihc, Pennsylvania and st. PAUL wero
all strcng, and it was noticed that the
WaldorfrAstorfa crowd had taken the
Icing side of the market on several of
these issues.
The denial from officers of the ccm-
lpany that the dividend on the common
stock of the Car and Foundry Company
would he cut helped that stock. At the
low figures. the support given to Steel
caused the traders to sell the list freely
believing that after the liquidation in
Steel a over that the railroad list
would be allowed to sag. Those who
study the situation, however, said that
the small offerings of railroad in
stocks showed that there were none
pressing for sale and tina the shorts
VIII probably have trouble In covering.
Teher. was a raid on Realty which
was preceded by all kinds of rumors,
Wnscn. however, could not be traced to
any Legitimate source. They were evil
dertiy put out to aid in the aid on the
shock which wis fairly successful. Dur
ing the day the mex dividend on Steel
common vas sold on the curo at twenty
cents per share. American Car and
foundry dividend sold at seventy cents
n share
just before the close there was a rally.
which carried prices In many cases 10
ABOUT the nigh, prices of the day. Steel
isfues advanced with the rest of the
HHhee' 2 tt-
United States Steel common after
making a new low record at 10 l-2. rail-
He'd toward the final dealings and closed
UNCHANGED at H.. The preferred closed
on 3-s; at 90 3-s. after being down to
81, new low record,
The local fractions showed much
strength. led by Manhattan. which
closed at 1876 IA. against 1871 ii. its
closing price of yesterday. Metropolitan
fell on nelly one point near the close
apd closed at 100 SIS. a gain of as.
Rfooklyn Rapid Transit gained Ia. al
IS t-2.
Louisville & Nashville. Union Pacific.
Missouri. Pacific and Pennsylvania were
the chief gamers in the railroad list.
each scoring a gain of nearly / point
Out of the $40, 800 shares Of stocks to-