Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-05-14
FINANCE AND TRADE
Stocks Were Irregular With
Stronger Tendency.
CHANGES WERE SLIGHT
GRANGERS WERE WELL TAKEN
By TRADERS
Reported Gold Shipments Excited a
Bullish Tendency Toward
the Close.
CHANGES WE'RE SLIGHT
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, May 14.-In the London
stock market Americans were about up to
| our final figures of yesterday, and the tone
| there was rather firm.
The local stock market displayed little
f1rmer tone at the opening. but prices were
| only In few instances changed from yes
terdays closing figures
The feeling, however, was rather cheer
full, notwithstanding the Bank of England
rate Of discount was not reduced, as had
| been looked for by some OF the larger In.
terests In the street. This was Offset as a
factor. however. by reports that there
would be no further gold exports this week,
and also by better tone in Pennsylvania
| stock which appeared to have gotten over
| Its spell Of nquidating sales.
The buying in this stock today was con-
slderably better than the selling, and Phila-
| delphia houses are believed to be heavily
short Of the stock.
some Of the support noticed In yesterdays
late trading.
st. Paul especially showed great firm
ness and a small fractional gain. The
Gould roads. too. were firmly held and in
clined to add to the small gains made in
| nearly all Of these issues The announce
ment from Toronto of an expected new
| issue Of stock by the Canadian Pacific rail-
road Company did not affect the price Of
| that stock. either favorably or adversely.
The new issue will probably be from 49,
100000 to 900, and is likely to be
offered to stockholders cheap enough to
afford valuable rights to the stockholders.
The new issue will not be brought out,
however. until stock market conditions are
| more favorable as regards activity in spec
ulation.
Union Pacific acted well and there were
hints that the stock would improve shortly
| In price. B. and o. continued to show a
good demand from interests identified with
the property, although price changes were
not great.
The southwestern stocks, such as Mis-
souri,, Kansas and Texas common and pre-
ferred, Wabash shares and Texas and Pa
cif1c, were somewhat improved and in good
demand. The former stocks appear very
attractive to their friends at this level and
there Is talk of an upward movement in
them shortly.
The traction shares were inactive, but
both Metropolitan street railway and the
Metropolitan securities stocks were better
the former gaining " per cent and the lat
ter sold up over two points from yester-
days low level Rock Island issues were
rather heavy at the start. but recovered
In the industrials Copper was a little re-
dictionary on account of a reaction in Rio
Tintos in London. but Sugar and the Steel
issues, also Colorado Fuel and Iron, were
| improved in price. the former on an ad-
vance Of five points In the price of refined
sugar by both the American Sugar Com
pany and the Arbuckles. The latter stock
Colorado Fuel and Iron, after gain of "
per cent over yesterdays highest met some
realizing sales and reacted sharply about
three points. -
In the late trading there were fractional
gains over the initial Improvement made
In st. Paul, Missouri Pacific. Atchison,
| Southern Pacific and Union Pacific and a
number of other active shares also good
| sharp recovery of most Of the loss In
Colorado Fuel and Iron Around noon the
| bot 0f tie Wv
on the announcement Of a shipment of
81 100000 in gold to go out on Saturday to
| Argentina.
The market yielded rather easily to the
bear selling, which was not very heavy,
| but somewhat aggressive in Pennsylvania,
New York Central and a few of the other
| active shares which had shown good earlier
strength The reaction carried prices down
| q little below opening figures.
Total shares traded in up to this hour
| were 1T. 800. and Of bonds. 81. 614 900. For
| eign houses sold about 10000 shares on
balance. but commission houses had a few
buying orders from the outside. The sub
| treasury gained 81, 131 900 from the banks
| yesterday, and since last Friday 1t has
| gained $1.S41 600. The subtreasury, how
| ever. was debtor at the clearing house to-
| day to the extent OF 1854 ,939
In the early afternoon trading the bears
! were still feeling around for soft spots in
| the market, and succeeded in getting st,
| Paul below 100. Pennsylvania below 129 and
Baltimore and Ohio under 90. Delaware
| and Hudson lost about IN from its early
price, and there were reactions Of from u
| to v in New York Central. Atchison and
Rock Island The market continued very
| professional, and at times extremely inac-
| tive and featureless.
In the late trading the whole list weak
| ened on the continued bear pressure. and
| there was some liquidation induced by APP
ton might cause some trouble in that mar
ket.