Evening star., 1903-07-22
Sharp Rally in Stock Mar
ket Today.
STEEL WAS STRONGER
RAILROADS, HOWEVER, MADE
MOST GAINS.
Erie First Preferred and Frisco
Seconds Were the Leaders in
the Advance.

NEW YORK. July 22.-Very decided I'M
provement was shown by the stock market
In the first hour of todays business. Prac-
tically every stock in the list. including
those which suffered most in yesterdays
bear onslaughts. made gains. In the stand
ard railway shares advances OF about
point or more were general and later these
advances were Increased.
The steel stocks participated IN the inn
provement. but only to slight extent.
Numerous small lots of steel common and
preferred were offered for sale, one broker
buying 800 shares in blocks of l'n before
the opening New York Central was the
feature in point of strength There were
some recessions due to profit taking. but
all offerings were well taken
There were TJuo shares of United States
Steel sold at :2H. and 22fs. compared with
o.a. last night The price then f"u back
a fraction. The preferred stock rose =.
then lost it, Erie first preferred advanced
II. and there were gains of about point
in St Paul. Atchison. Missouri Pacific. Rock
Island and brooklyn Transit. Tho leading
trunk lines. Pacific and coalers were put
up large fraction. American linSr"d
preferred dropped Ia.
The market wavered for "A time when the
selling of the United States Steel stocks wa5
resumed, but the appearance of buying or
ders soon turned the list vigorously upward.
St. Paul, the CoalerS, the PaCitCS, tha
United States Steel stocks. Amalgamated.
Brooklyn Transit and the Pennsylvania
group We're heavily bought "A rising
scale. ST. Paul and New York Central
made an extreme rise of about points.
Tennessee Coal 22s. Republic Steel preferred
;. General Electric =. and the active list
generally well over a point.
Kansas and Texas preferred and To-
ledo. ST Louis and Western declined /.
Toledo, st. Louis and Western preferred
and Texas Land Trust 1l2, and Locomotive
preferred and North American >. Realizing
sales met the top level of prices. and the
market eased off all around. New York
Central and Tennessee Coal reacted point.
The market became dull with the reac-
ton. Erie first preferred rose an extreme
pa st. Louis and San Francisco second
preferred B, and Cleveland, c. c. and st.
Louis, 3I.
The early weak stocks made effectual re-
cOvery. one hundred shares OF Colorado
Fuel preferred sold at 100, compared with
the preceding sale at 122, The United
States Steel stocks rose to the best at noon.
and the market hardened in sympathy.
Reading, Union Pacific, Baltimore and
Ohio, Canadian Pacific, Atchison. United
States Steel preferred. Amalgamated, Su-
gar and Virginia. Carolina Chemical rose
about . over last night. Bonds We're irreg-
ular.
The active list moved higher in the late
morning session. though some of the spe-
cialties made declines.
before noon. which sent prices higher all
around and brought recoveries to NUM-
ber of stocks in the special class.
The smartest gains We're in Erie first
preferred, Frisco second preferred, North
American and Linseed preferred. \ sale
OF 100 shares of Colorado Fuel preferred a
loo, drop of - points from the best pre-
viouS trar saction. was reported
Trading became rather dull before /
o'clock, but the market continues firm.
Several of the leading railroads and spe-
cialtieS We're lifted strongly, but the gen
eral market did not share perceptibly in
the rise. Peoples Gas led the movement
with an advance Of 3A followed by Sugar
with rise of 3. and then in turn Louisville.
Pennsylvania. Reading. Delaware and Hud-
son, Kansas City Southern. Brooklyn
Transit and United States Steel preferred
We're bid up 2a2R Peoples Gas lost a
point later and Northwestern also fell back
, Active stock ruled below the best at 2
O'Clock.
Pennsylvania, Manhattan and Realty pre-
ferred Joined the ranks of the stocks which
advanced . points or more before the de-
mand slackened and trading became dull.
Prices did not give way much and there
We're fitful rallies in spots. Locomotive
preferred recovered and reacted . and
Canadian Pacific and Enameling lost 1F,
and - respectively, of their advances
Snuff preferred jumped ) and Pacific Coast