The evening world., 1903-03-13
Expectation Of Favorable Bank
Statement Brings Outside
Buyers Into the Market and
List Shows AlI-Around Gains.
GOVERNING BY THE SHORTS.
Heavy Purchases In Steel While
Sugar GaIns-Paclfies Fairly Good
with AmaIgamated Under Pres
sure Of Pool Selling.

Stocks rallied after an early weak
spell in the market to-day and fair
gains were Registered, especially In the
railway List. Speculation, however, was
not very active. Traders began to take
a more favorable view of the bank
statement, and estimate n big decrease
in loans.
Covering by shorts and buying by
the outside public, whose confidence has
been temporarily restored. also helped
along the advance. The higher London
closing was also a factor.
The announcement OF the Keene suit
DO restrain the Union Pacific manage
mont from voting its Southern Pacific
stock at the coming meeting of stock
holders Of the latter company at first
caused a slight decline In Union Pacific,
which was later made up and induced
purchases OF Southern Pacific. which
carried the price up 1 per cent. Cana
dian Pacific ~ held In restraint by
continued talk of the strike ON the
Pacific coast.
Among the industliala. Amalgamated
Copper was not as active as It has boon
of late n developed heaviness on re-
ported pool selling. and the dechne IN
h metal and the stock abroad. The
price OF the stock here declined a point
and then rallied. Sugar Refining re-
covered sharply on n report that Con
gress might call an extra session In
October for the purpose OF passing the
Cuban Reciprocity bill. Consolidated
Gas advanced / LIZ per cent.
There was q fractional Improvement
On Metropolitan Street Railway and Nam
haitian ~ also firm. Government
bonds were unchanged and railroad
bonds ruled Arm.
Time money was mot in active de-
mand. bs< per cent. boxing the average
rate. Some large uEts were put u
on call. n prominent bank lending
IS, ooo.O 900 at 6 per cent.
There was some hopeful nix on the
probable February earning Of Reading.
and the stock advanced on the strength
of It
People who had early information sold
Sugar short on tho practical postpone
ment OF action ON h Cuban reciprocity
treaty until December. Lower Wall
street houses were bulllsh, but the o
pie in touch with the company's af-
fairs were heavy buyers of the stock.
The buying Of United States Steel was
heavy and materially helped by the bull
t5h attitude or foreign operators, sup
posed TO be In touch wdthl the Morgan
interests.
There was some talk that the Gould
party would take good holdings of West
ern Union at present prices.
The rally IN Wabash uncovered quite
q considerable short interest and stop
orders were caught on the advance.
Reading was bought in large quanti-
ties by Wasserman Bros. and Pearl &
Co. II was reported that the Morgan
interest regarded 1t as a cheap invest
ment at the present levels.
The Whitney Elkins crowd bought
heavily of Metropolitan and managed to
run up the price on the short interests,
The Standard on coterie was said to
be operating heavily in the market, and
some OF the buying was ascribed to the
Morgan interest.
The newly formed 100000 buli pool
In Louisville q Nashville, headed by
John w. Gates. although OF small d.
mansions. was able TO take care OF the
stocks and the price remained firm on
Pumors that the western capitalists
would force the declaration OF a divi-
dend OF 6 per cen
The Southern Pacific pool, OF which
James r. Keene Is the organizer and
was believed TO have inhuenced some
OF the pressure on Union Pacific In