Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-05-11
FINANCE AND TRADE
Opening in Stocks Was
Rather Dull.
IMPROVED LATER ON
SOUTHWESTERN GROUP WAS A
BULL FEATURE.
Missouri Pacific, Texas Pacific and
Several Others Showed Substantial
Gains Over Saturday.
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. May u.-American railway
shares in the early London stock market
today showed small fractional declines
compared with our final figures of Satur-
day. Consols for money were Lie per cent
lower.
There was not much feature to the specu-
lation in the local stock market at the
opening, although the feeling was some
what more cheerful. especially regarding
the Manchurian and the Balkan situations.
The tone Of the market at the start was
a little firmer and prices generally were
slightly better, the copper shares being the
most active and showing the best improve
ment Amalgamated gained " on the adj
vance in the metal abroad. and general
feeling here that the larger interests I'm
that Speciality are committed to the long
side Of the speculation in those securities.
Missouri Pacific also gained about u per
cent over Saturdays lowest figure. and tho
buying in it still seemed to represent the
interests most closely identified with the
property. The Mexican stocks continued to
show good demand, the Mexican National
common gaining Is per cent in the early
trading.
Manhattan and Metropolitan both gained
u per cent, and Brooklyn Rapid Transit
made gain of Y per cent in the first few
minutes of business.
Metropolitan securities were again under
pressure and lost over 1 per cent, possibly
due to some liquidation by those who do
not care to pay the second fnstallment of
% per cent due on June L. The decline
looked as IL 1t was helped some by short
sales of those who were on the bear side
of Metropolitan street railway stock. In
order to facilitate covering in that security.
The Rock Island issues were little better.
but Frisco common lost " per cent on a
single transaction in the early trading.
St Paul. Union Pacific and Baltimore and
Ohio were about steady.
There was some pressure in Southern Pa
ciic and that stock lost about l per cent
before the end of the first hour. The selling
was on rumors of strike.
The Coalers were neglected and the Steel
shares were reactionary in tone after the
initial dealings. which showed u gain over
Saturday.
Bonds were quiet.
After the first hour of business the SELL
ing became little more aggressive and
there were declines in New York Central.
Missouri Pacific and few of the other
active shares. but there was no news of
any kind to account for the heaviness.
Commission houses were not kept busy
with out-of-town orders and London was
only very moderate business.
The subtreasury gained $227 600 from the
banks Saturday. but since last Friday the
banks have gained $4,000 from that insti-
Inc SuDtreaSuTy was QeDtOT TO inc
clearing house today to the extent of $3.50
SOP. Up to noon 2O1. 400 shares of stock
were dealt in, and of bonds $997, 900.
London's trading was not factor. The
general market at this hour continued dull
and uninteresting, but prices were a shade
firmer.
Brooklyn Rapid Transit was up 1 per
cent from lowest, and Louisville and Nash
Vile showed " gain. 81 500 900 gold has
been engaged by Shipment to Europe tomor-
rom, and 100000 in gold is likely to go
out to Argentina this week. but these ex-
ports did not appear to affect the market
to any extent.
In the early afternoon trading there was
strong advance of 1a per cent in Illinois
Central. Brooklyn Rapid Transit made
further gains, and the general list rallied
slightly. Around delivery hour Gals Dm)
there was another slight Improvement In
the market. the southwestern shares such
as Missouri Kansas and Texas common
and preferred and Texas Pacific leading the
rally.
There were also advances in Baltimore
and Ohio common, St Paul, Missouri Pa
cific and Louisville and Nashville. Trading
became little more active at this time,
and there was a better demand all around
the room for stocks that have been freely
sold for the past few days by the room
traders.
In the late trading the market continued
to show a better tone and prices generally
showed good fractional improvements over
opening figures.