Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-03-02
Stocks Opened Stronger, but
Weakened Later.
NEWS WAS BEARISH
RALLY AT CLOSE CAUSED FRAC-
TIoNAL GAINS.
Probable Failure Of Financial Legisla-
ton Was the Main Argument
Of the Bears.

Special Dispatch to The Evening Star.
NEW YORK, March 2.-Opening Londoa
prices fer American railway shares showed
! some drregularity. but later the market
there improved from u to Is per cent above
our closing prices OF Saturday.
In the local stock market the opening
figures were almost uniformly stronger and
the speculation was fairly active at the
start, the feeling among the traders being
that if the Aldrich bill. as originally pre-
scented, did not pass there were hopes still
entertained that some compromise meas
ure along the lines Of the Aldrich bill ard
the Fowler measure would be acted upon
before the adjournment of Congress.
These views, however. were not. entirely
borne out by the latest advices from Wash
ington. where it was reported that the dem
ocrats still ENTERTAINERS hostility toward any
financial legislation being enacted at this
session of Congress.
The copper shares showed the most activ-
ity and strength at the start. Amalgamated
after opening % per cent higher than Sat-
urdays closing figures. made further gain
OF about Y per cent The rumors on the
stock were of another advance in the price
of the metal in London and that the trade
interests here were still bullish on the out
look. -.--.-,-----.
In Pennsylvania the good annual report
Of Saturday brought in some outside In
vestment orders and the stock gained about
" per cent. New York Central was also In
a little better demand and made like gain
in price.
Rock Island securities were active and
showed an improvement of aboutSs per cent
The Wabash issues were firm at the open
ing on the reported adjustment of wages
with the employees of that road. but subse-
quently lost ground on the belief that the
recent buyers Of those stocks had secured
enough OF them to insure q controlling in
terest in the road.
Sugar was not active, but the price was
improved about y per cent on small trans
| actions Tennessee Coal and Iron and
| ranging from u to Y per cent. The United
States Steel issues were fiat. In the bond
dealings Pennsylvania convertible 81 and
Frisco As were notably active and flrmer
After the first half hour Of trading the
general market weakened somewhat on a
renewal of short selling on reports from
Washington that the Aldrich bill would not
be allowed to come to a vote on account Of
democratic fllibustertng.
I'm this movement the market generally
lost from q to "a per cent. but there APP
peared to be some support In the Gould
stocks, st. Paul and a few other prominent
issues.
Sales to noon amounted to 1872 200 shares.
and the market at that time continued to
show weakness, prices having declined from
" to 1 per cent In the active shares from
opening figures.
In the early afternoon trading the bears
became more aggressive and the market
gradually ucCllkleu' 10 dpOul lie lOWcSL uS-
ures of the day, the only news being the un-
favorable views taken as to the probability
of the financial bills passage.
Copper shares were steadied somewhat
on announcement of another advance Of "
cent in price Of all grades of that metal.
but the support was not as good Is In the
earlier dealings. and the price showed q de-
cline Of IL per cent from opening figures
AS a group the local Traction shares show
ed the greatest weakness. both Metropoli-
tan and Brooklyn Rapid Transit being
under pressure Of sales by the political
bear pool in these specialties. The western.
crowd were also said to be aggressive sell
ers for the short account in some Of the
active railway shares.
In the late trading good buying Of Man
haitian and some disposition to cover else
where in the market led to a rally in the
general list but the improvement was only
fractional. and good deal Of stock came
out on the advance The speculation. how
ever. on the whole, still appears to have
largely discounted the expected defeat OF
the Aldrich bill. and. when that event hap
pens. If it should finally; turn out that way.
the market is likely to rally on short cover
ing