Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-03-06
Stocks We're Irregular, With
Tendency to Weakness.
RALLY AT THE CLOSE
TRACTION SHARES WERE THE
STRONG FEATURE.
Around the Noon Hour There Was .
Coz SST
Decided Weakening in
a1. ss1i ). tina List. xiF
Special Dispatch to The Evening Star.

Speciai dispatch to The Evening star.
NEW YORK, March 6.-American rail-
way shares ON the london market showed
improvements extending from V to i per
cent, the latter in Canadian Pacific.
The higher london quotations and the
denials Of all the wild srumors yesterday
put out by the bear traders gave the local
stock market frmer tone at the opening.
and although there was still aggressive SELL
ing by the bearfshly inclined, the market,
after initial fractional advances, gradu-
ally made further small gains throughout
the active list.
Manhattan was again a very active Tea
turs of the early speculation. its opening
price showing gain OF nearly l per cent
from yesterdays closing figures. and the
advance was pretty we'll held, in the face OF
good many selling orders. under support
from the inside interests.s.
Brooklyn Rapid Transit and Metropolitan,
the other local traction shares, also acted
frmer, the former rallying nearly one point
between sales at one time. Amalgamated
Copper was another active feature OF the
early market, and on aggressive buying for
the pool in this metal speciality it advanced
about l per cent from opening figures.
Southern Pacific and Union Pacific were
again under pressure from the bears but
both received support said to come from
the Hartman interests. and both held q
small fractional gain, despite short selling.
Atchison and st. Paul acted a little bet
ter than was the case yesterday, both gain
ing about IN per cent over the low prices
of yesterday.
Rock Island issues were In demand, and
| scored an early advance of u per cent
Canadian Pacific responded to the advance
in the London market by an Improvement
of per cent.
Sugar was a little erratic in Its fiuctua-
tons, the opening gain was about n per
cent. and 1t increased this to about IN per
cent, but then met with realizing sales,
which carried the price to a fraction below
| the opening. The stock sold ~ per cent
| ex-dividend at the start.
Some encouragement was felt In the street
on the news today that American bankers
yesterday borrowed large sums Of money
| in Berlin on time loans at 81 per cent on
frst-class security, and that foreign ex-
change conditions show some Improvement.
After the first half hours trading the
market developed some Irregularities in its
! movements. There were gains in some in
stances and losses in others. and there was
| good deal of backing and filling. After
the first hour of speculation the general list
| showed fractional declines from the open
ing prices.
Around the noon hour the market again
showed great weakness and traders were
very active sellers Of the general list.
Prices declined to the lowest Of the pres
ent downward movement. and there APP
| peared to be only nominal support. There
| was no special news to cause the attack.
| the only excuse being that call loan rates
were per cent. whereas they reached 7
per cent yesterday. Sugar displayed weak
ness, possibly on account OF the delay
at Washington in considering the Cuban
| treaty, it being expected that the Panama
| canal project would first be considered by
| the Senate and there was no. telling how
| long it's consideration would occupy the
| attention of that body. -, -
The principal movements Of currency this
week indicate that the banks have lost
thereby about FIVE and one-half millions.
the loss to the subtreasury footing up over
six millions, but on the direct interior
movement the banks have gained a. little
over $500, coo.
In the early afternoon trading there was
some covering Of shorts In the active
| stocks. and on these purchases the general
list improved from " to 1 per cent. the
latter in Copper, which was heavily traded
in around r. --.
In the late trading there were fair rallies
on covering of shorts and some pretty
good buying by people who think the mar
ket is entitled to rally from the low fig
Missouri Pacific st. Paul. Sugar, South
ern Pacific, Reading, Baltimore and Ohio.
Copper and a few other active shares ap-
peared to be somewhat oversold, and rail-
lied over point.