Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-02-04
American Railway Shares
Improve Fractionally
IN THELONDON MARKET
B. AND o. DECLARES REGULAR
TWO PER CENT DIVIDEND.
Reading a Feature of Strength In
Early Afternoon Trading
The Day in Detail.
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. February 4.-The Londosf
stock market appeared to be favorabiy az
fected by the stronger closing to our mar
ket Of yesterday. Prices at the opening
there showed fractional improvements for
American railway shares.
The steel issues were from y to Y per
cent higher, while Anaconda gained per
cent. Business, however, was not as brisk
as expected.
The Venezuelan situation was looked
upon as being more favorable to an early
settlement than heretofore
This feeling and the strong tone to the
market late yesterday gave renewed hopes
to the traders, who have for the past day
or two been trying to get the market out of
the rut into which II has dragged along for
the past ten days 1t was not surprising
therefore,. to see rather strong and active
opening to the local stock market in which
the United States Steel shares were the
strongest features of the speculation.
Ihere were also good initial gains in
tennessee Coal and Iron, Amalgamated
copper and Rock Island common, together
with small improvements in ST. Paul
Union Pacific. Baltimore and Ohio and the
Wabash issues
Sugar also gained y per cent and showed
little more activity on reports that the
Williamsburg refinery would start up again
on Sunday night.
PENNSYLVANIA and New York Central both
gained fractionally at the start but did
not hold the advance: in fact, after the
first half hours trading the general list
showed signs Of weakening on profit TAX.
ing by the traders who seem to be salts
fled with very small profits these days.
Delaware and Hudson displayed a reac-
tionary tendency from the start and the
stock lost LIZ per cent in the early deal
lngs; General Electric also receded u per
cent. The Erie issues and Reading were
somewhat neglected, but steady around
yesterdays closing prices.
In the second hour Of trading there was
more activity among the large pool opera
tors. and this led the room traders to as
sumo a more aggressive attitude on the
long side of the market.
st. Paul gained per cent, Missouri Pa
cific " Canadian Pacific ". Baltimore and
Ohio Is, the Wabash issues rallied sharply,
and there was quick recovery Of the
early loss in Delaware and Hudson stock
In fact. the whole market presented
stronger appearance, and commission houses
reported an increase in out-of-town interest
in the speculation.
The announcement Of an alliance between
Rock Island and Union Pacific did not have
being credited in wellinformed circles
The former stock, however, acted as
though the pool was again at work trying
to get public following to help 1t put the
stock on a higher level.
Transactions amounted to $27O.3OO shares
up to the noon hour. and the market at that
time continued to show improvement.
Notwithstanding poor wire service on ac-
count Of storms In the west, outside bust
ness was much improved.
London traded in about 10000 shares,
buying and selling about an equal amount
of stock.
The Fries and Reading stock were fea-
lures of strength in the midday trading,
and further advances were scored In Bal
timore and Ohio, Canadian Pacific and Chi
cago and Great Western, the latter stock
acting though the bull pool was again
at work
Specialists bought and put up United
States Express stock.
Baltimore and Ohio directors today de-
clared the regular semi-annual dividend Of
per cent on both common and preferred
stocks, payable March 2. Books close Feb
ruary IA and reopen March 2.
The selling price for lake copper is now ID
cents, being an advance OF s Of one cent
per pound.
In the early afternoon trading Reading
still continued to be feature of strength
and there were sharp advances In Illinois
Central and Pacific Mail stocks, the latter
presumably upon the expectation Of an
early passage Of the Panama canal bill. -
The stock gained over per cent on
few transactions, going to show that the
stock is pretty we'll held and more than
hkely by strong people. otherwise the in
terest Accommodations on such an inactive
stock would have compelled liquidation OF
margined accounts long ago.
In the late trading the market still con-
tinued to act as though some OF the larger
interests and pools were at work on the
bull side Of speculation, and II the Ven
ezulean trouble is settled In the course Of
day or two, as Ia expected. we may see
the Inauguration OF pretty good bull
movement, for the big operators know bet
ter than any one else. that that kind OF q
market appeals to the outsider, and that
without this factor they are merely wash
ing" transactions.
Money continues easy. loaning at 2A per
cent. Government bonds were unchanged
and railroad bonds more active and a lit
tie firmer.