Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-04-16
Railroad List Made Some
Gains Today.
FRACTIONS WERE WEAR
TALK OF STRIKE LOSING IT'S
EFFECT.
London Sold American Railway stocA
at the Opening Of the
Market.

NEW YORK. April 10.-London prices TO-
American railway shares showed fractional
declines. but activity In this department
was lacking. traders on that side preferring
to await leadership on this side of the
water. Consols were on 1-16 per cent.
In the local stock market there was a good
deal Of uncertainty at the start. owing to
the sharp decline occurring Just before the
close yesterday on rumors OF strike on
the Manhattan IL" system. While no
strike has as yet been ordered. the COM
pany's refusal Of the request for shorter
hours may precipitate one. vote on the
matter is to be taken today by the men
and the result will probably be known by
tomorrow morning.
The traction shares. however. were tho
features OF activity and a good deal OF ir-
regular movements IN the initial trading.
Manhattan. after an opening decline Of X
per cent. sold or fractionally, and then
rallied over a point. selling y per cent
above last nights closing figures. Metro
politan. which was affected by the pro-
ceedings In the Amory case. now being
heard in court. was attacked by the bears
at the start, and lost per cent. from
which level supporting orders were met.
and the price quickly regained all its loss.
Brooklyn Rapid Transit had sharp
break OF over point at the start out of
sympathy with the attacks on Manhattan
and Metropolitan. but 1t, too. very soon
afterward more than recovered its early
loss.
In the railroad list the opening was only
fractionally lower and Immediately after
ward hardening tendency was noticeable
in those Issues. which before the end OF
the first half hour resulted in good rallies
throughout the active list, the most con-
spicuous gains occurring in Baltimore and
Ohio. New York Central. Pennsylvania. St
Paul. Norfolk and Western, Union Pacific
and the Rock Island issues.
In the Industrial group Sugar and Copper
were both we'll supported In the early trad
ing and rallied easily when the rest Of tho
list showed recoverfes.
The steel issues, while not active, were
steady to strong
After the first hour Of trading the gen
eral list became active and strong. with
advances Of from X to y per cent through
out the active group.
The loss Of the banks to the sub-treasury
yesterday was 1900 but since Friday they
have gained 81 319 900 from that institution,
and the latter was today a debtor to the
clearing house to the amount of 81. O63. 637s
attributable in large measure to pension
payments.
traded in and bonds to the amount Of 81
100000.
Foreign houses were not very active either
way in the speculation. their total transac-
market at this hour was rather dull, but
prices were holding very well at about the
highest of the forenoon speculation. There
appeared to be less uneasneSs over the
threatened strike on the Manhattan railway
system and more confident talk regarding
the position Of the company If one should
be inaugurated.
There were no interesting Dir important
developments in the early afternoon trad
ing. with the exception of the declaration
of the usual quarterly dividend of one-half
OF one per cent on Amalgamated Copper
stock. This was somewhat of a disappoint-
ment to some who had expected an in
crease In the rate, rumors to that effect
having been quite numerous of late, but
the price show any particular change, SELL
ing " per cent below the best figures of the
earlier trading. when the dividend an
nouncement was made.
The rest of the market was fractionally
below the best figures of the day. but trad
ing was very inactive. Around o'clock
trading increased somewhat in volume and
the advance carrying the general list up
from Is to rs per cent. The best strength
was shown in st. Paul, Norfolk and West
ern, Baltimore and Ohio and in Pennsyl-
vania.
The trading was still very professional.
but the steady strength displayed since
the opening doubtless led to some outside
buying. and these purchases will doubt
less prove remuneratve within the next
week two, barring some unlocked for
bad developments in the way of strikes
or legal moves on the part of the govern
ment. In the late trading the market
continued to show good strength, and the
western element in the speculation was
rather active on the long side.