The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-04-19
ySNAN0IAL AND COMMERCIAL
SATURDAY, April IA.

|Hl SATURDAY, Apru IN.
tITo-day's stock market was the usual
aturday affair. without exceeding &C
Illvity or especial feature. It maintained
p bard and firm tone and was true TO
II p typtcal characteristics OF Saturdays
bertst vhsn an upward swing In prices
= = m progress In that the usual end the
wssk profit taking was INDUCED In; while
ths great resiliency which the market has
1 rocenfly assumed was again displayed
~ IT. failure TO recede after q sharp drive
Against Q quarter thought to be exposed.
~ the opening Of business q marked ~
ooyery was made In the price Of the Metro
pottan Street Railway shares, due to the
esneral conviction Of spectators that the
seook was oversold and that the raid made
upon II yesterday had been particularly
unRscceesful.. 1t IL beginning to be re-
membered that nothing has yet been de-
vvlopsd that has in the slightest degree
Impaired or impugned the earning power
- the Metropolitan Street Railway and
ooooefning ITSELF with matters Of ancient
history; and 1t is utterly impossible for
ths svoraSe intelligent citizen to believe
ut not simply the great capitalists. but
tAss the eminent lawyers than whom none
8A8bok HOPut6tiOu III tnc community
for probity and acuteness. the banking
house which II known all over the world
- less for Ito wealth and sagacity than for
IT. honorable dealings and all the other
parties Of similar rank lately having to do
WITH The. Metropolitan company. could
Tor IN instant either be guilty Of any such
malversation as has been charged or could
havO conspired to keep such iniquities
secret after they had been discovered.
The announcement OF both parties 70
ths conferences that have been going on
between the managers OF the Manhattan
Elevated Railway and their employees
that strike upon the road was now i'm
probable was. Of course, cheering. as was
also the consideration OF the very large
quantity Of wheat taken for export at the |
Produce Exchange yesterday. The most |
important news OF the day, however, was
he further reports Of large increases in |
railway earnings for the second week Of |
The month. The Chesapeake and Ohio |
road thus reports an increase Of Ses ,zss,
Norfolk and Western SSs,lo0. Missouri |
PAciAc SIT 900 and Canadian Pacific sos 900. |
The soft-ooal roads seem to be doing par
ticulariy well at present. and the recent |
buying Of their shares undoubtedly has been /
because OF the earning power shown by /
the companiee. The strength Of Baltimore /
md Ohio has been especially stimulated |
b. he belief that an increase In its rate OF |
dividend y approaching. The attack upon
he market previously referred to was
directed against the Reading stocks upon
he idea that the investigation by the Inter-
state Commerce Commission, due to take
place In this city on Thursday, Of various
allegations that have been made OF dis
elimination in coal freight charges, &C.,
may b unwelcome to the anthracite |
,oal roads. 1t is sufficient to state that the
1irectors Of the railroads concerned CON-
Iider the matter ~ Of no importance.
The bank statement was non-committal,
Ihowing an increase In reserve Of &, 2ee, $50,
which was about what was expected. An
ncrsase IN loans Of s2.427 800 was set OF
" . similar increase In deposits. The
,ash held by the banks increased nearly
. 900 900. The increase In loans was held
o b unfAvofable by q portion Of the trad
nc element. but the selling INDUCED In
n this account was Of brief order, and the
market rallied and closed strong at the
dghest figures Of the day. The feeling
\ Wall Street at the end OF the week was
- Of greater general optimis m and moro
mguins confidence that higher prices
waited the market than have been seen for
J very long limo.
lew Yssik Stock Exchange sales. April 10. |
01emo pssc1s o. rNTrsD STATES DoNDa
Ask> /