Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-02-10
Railroad and Industrial Shares
Advance.
LONDON MARKET HIGH
GOULD LINES AND COPPER THE
LEADING FEATURES.
Renewal Of Buying in New York
Traction SecuritiesSSteel
Issues Dull.
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
| NEW YORK, February 1O.-In the early
London market Americans were somewhat
| irregular. the feature being y per cent
gain in New York Central. In the later
| dealings there the American railway shares
we're from Is to 4 better than our closing
| prices of yesterday.
| In the local stock market there was an
other exhibition OF strength at the opening
with the Gould stocks and copper shares
the leading features.
Missouri Pacific, Wabash preferred and
| Texas Pacific all showed initial gains of II
per cent. Copper's advance amounted to
| y per cent. and this stock was the most
actively dealt in. Boston houses still buy
| ing on the reports Of further advance in
| copper. There were also good gains noted
| in St. Paul. Union Pacific Norfolk ard
Western. Southern Pacific. Mexican Cen
| trail and Canadian Pacific. The latter stock
gained Ia from yesterdays closing figures
on buying by the Montreal pool.
This stock was also a strong feature in
the later London trading. The directors
Of the company have declared the regular
semi-annual dividends of 2h per cent on
| the common and 2 per cent on the preferred
stock.
In the local traction shares there was a
| renewal Of buying for the inside interests
in both Brooklyn Ripid Transit and Man
haitian, the latter acting very strong, not
withstanding rumors Of impending labor
difficulties.
In the steel issues there was not much
activity, and the price changes were only
fractional. Sugar was again bought by
lower Wall street interests and the stock
improved slightly at the start. but reacted
some little later on. There was good
deal of manipulation again shown In the
Rock Island issues. the transactions APP
pearing very heavy. but were evidently
only matched" orders, as the stock only
advanced fractionally.
AtchiSon Issues were active and strong,
with signs of short covering. Traders were
bullish and inclined to help the larger in
terestS wherever they were discovered at
work in the market. Very little attention
appeared to be given to the new hitch In
the Venezuelan matter, and the market
seems to be cutting loose from that situa-
ton as market factor.
After the first hour there was some cas-
Ing Off in prices. especially noticeable in
the Wabash issues. In this reaction there
were average declines of from " to q per
cent, but the traction shares still continued
to show a little better strength, Brooklyn
Rapid Transit and Manhattan both being
we'll bought. New York Central and Penn
sylvanfa still showed heaviness notwith-
standing reports that the latter road has
made further acquisitions Of anthracite coal
properties.
l-,tt
shares of stock dealt in.
Arbitrage houses traded in about 10000
| shares. They were principally sellers of
Atchison stocks.
The pressure of profit-taking after the
first hour of trading encouraged some SELL
ing by the traders. the heaviest sales being
in the steel stocks, which was said to have
been profit-taking by some of the larger
Traders The market around midday be-
came very inactive, with prices still show
ing declines of from " to q below the early
high figures.
In the Wabash issues there was open
selling by one of the prominent firms who
usually act for the Gould people. In the
early afternoon trading the Gould stocks
again forged to the front. Missouri Pacific
being the leader. The stock advanced
a fraction above its earlier high figure, buc
met with profit-taking orders at that level
in large amounts and subsequently reacted.
The rest of the list sympatheticalty
Influenced and enjoyed a small improve
ment but the market did not act as firmly
as it did in the forenoon trading and tho
bears were testing the market for weak
spots.
In the late trading there were few large
orders handled, and the specula ton was
without sharp fluctuations either way. The
supply OF stocks seeking profits. however
was large enough to cause fractional de-
cines in the general list. There was some
good support however, and the undertone
of the market remained strong at the
slight receSsioES.