Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-04-07
FINANCE AND TRADE
Slight Favorable Reaction in
Railway Shares.
STARTED IN LONDON
SOUTHERN PACIFIC WAS AN Elk
CEPTIoN.
That Stock Was Again Object Of At
tack by the Bear
Crowd.
STARTED IN LONDON
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. April 7.-American railway
shares in the London stock exchange
showed slight reactions compared with our
closing prices OF yesterday. Consols for
10th accounts were Is per cent higher.
In the local stock market. although the
opening prices were in some instances
slightly lower, some of the most active
shares were unchanged and the market
Immediately after the initial dealings
showed signs of recovery, and by the end
Of the first half hours trading prices gen.
orally were from y to Is per cent better
than at the start.
Union Pacific. st. Paul. Missouri-Pacifc.
Baltimore and Ohio and the Rock Island
issues all showed good opening recoveries.
but Southern Pacific still acted little
heavy. notwithstanding rumors to the er-
feet that the life of the pool in that stock
would be extended. Union Pacific acted
well from the start and received good sup
port from the inside interest.
Sugar acted a little better at the start
the pressure from Boston not being in
evidence In the early dealings. as was the
case yesterday.
New York Central and PENNSYLVANIA both
received fair support and held rather firm
in the early trading.
The banks gained $4,000 from the sub
treasury yesterday. but since Friday last
nave lost to that institution $500.
Inc railroad earnings received this MORN
ing continue to show good increased earn
ings. and the time money market Continues
well supplied with domestic and foreign
FUNDS at to 51a per cent. Call rates ruled
around q per cent After the first hours
traolns the market became dull and some
what Irregular, but prices on the whole
continued to show a firm undertone with
the exception of Southern Pacific, which
was sold down to 551s for a loss of over a
point from opening figures
LONDON traded both WAYS I'm orr market
buying on the reactions but selling on bal
ances when the market showed any in
cl1natfon to rally. Commission houses wera
not busy with out-of-town orders and
room traders were not disposed to trade
heavily pending the winding up of the
southern Pacific pool holdings in that
STOCK. transactions in stocks up to the
noon hour amounted to 205 200 shares and
in bonds to $3.50 900.
There was quite a determined selling
movement in Rock Island issues, but the
stock only reacted about i per cent from
It's early high price. The support at the
lower level appeared to come from the
western operators In that speciality. There
pressure in those stocks. One trader un-
loaded 10000 shares Of the common.
Inere was quite little demand for
Leather common: and the stock rallied
nearly point. The market. on the whole
however. was extremely inactive with
prices holding around fractional declines
from the early high quotations
renewed weakness in Southern Pacific
from selling apparently by the pool in that
stock, unsettled the general list in the early
afternoon trading. and caused profit taxi
ing all around the room. Support was only
nominal. and there appeared to be a gem
eral inclination to get out of stocks pend
ing the Southern Pacific pool settlement
ana on account of the coming holidays Fri
day and Saturday of this week.
In the late trading the market gave way
under mixed selling, the uncertainty re-
gardlng the Southern Pacific situation in
reference to the pool in that stock being a
hurtfui factor to the speculation. Prices
generally reacted from u to 1 per cent
from the declines around the noon hour
sition on the part of the larger interest.
10 support the market. which was profess
sional in the extreme
Money rates on call were nominally Az
to per cent. III