Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-02-26
New York Stock Market
Weaker Today.
LOSSES WERE SLIGHT
SOME PRESSURE TO SELL TRAC.
TON SHARES THERE.
Otherwise the Reactionary Tendency
Seemed to Be Confined to
Lack Of Demand.

Special Dispatch to The Evening Star.
NEW YORK. February 26.-In the Lon
don stock market Americans again showed
declines averaging y per cent. The market.
however, was dull Consols were UNI
changed.
In the local stock market there were sew
eral contrtbutory factors toward the lower
opening experienced in the initial dealings.
the first in importance being the reported
hostility OF the democratic leaders in the
Senate to the Aldrich currency bill and the
uncertainty as to whether this growing OPP
position could be overcome by republican
reasoning and persuasion both Of which
are being used to pass the measure and
put stop to the boarding OF money by
the government through the subtreasury
collections. which yesterday amounted to
100000. ana since Friday the banks have
lost through these operations nearly $1,000
OOO
Another factor in favor Of the bears was
the continued weakness In the Lon
don market for American securities
but this. 1t is well known, has lately been
caused by short selling originating here.
for the purpose Of influencing sentiment in
the local market. Again there was an en-
gagement yesterday Of 10000 in gold coin
for shipment to Buenos Ayres. This was
a special transaction. but the bears were
inclined to make capital out Of 1t. losing
sight Of the fact that the banks received
$4,000 in gold from San Francisco.
The opening prices were, however, only
fractionally lower than yesterdays closing
figures, and these losses were not general.
In Amalgamated Copper, one of the most
active stocks. the opening price was I'M
changed, and in Metropolitan street rail-
way stock. one Of the weakest issues of the
past week, there was q rally Of nearly
point after the first few minutes of trading
on covering of shorts, but some of this ad-
vance was subsequently lost.
An announcement that the Rock Island
had secured control of the St. Louis and
San Francisco led to only small transac-
tons in those securities. The former was
only barely steady around yesterdays clos
ing price and the latter lost 1 per cent on
some small realizing sales, showing that
the event had been pretty well discounted.
The rally in Metropolitan and the firmness
in the copper shares led to a fractional re-
covery In the general list, in which st. Paul.
Atchisoh and few others of the standard
railroads gained about " per cent over the
opening figures and the general market
displayed firmer tone.
Wabash issues were unfavorably affected
at first by the announcement that there
would be- a strike OF the trainmen on that
road Monday next unless their demand for
an Increase IN wages was acceded to. In
the second hours trading the preferred
Wabash rallied sharply about I per cent.
and the buying was said to be for tina
Gould interests.
The sales up to noon only amounted to
1875. 400 shares, and commission houses still
complained Of lack of outside interest in
the speculation. Notwithstanding the ap-
athy of the public and the early unfayora-
BILE factors the market held comparatively
steady. with very little pressure to sell,
except In the local traction group, in which
there seems to be strong political bear
clique at work to depress those issues
The stock exchange has listed the $50
100000 81 per cent ten-year convertible
bonds of the Pennsylvania Railroad Com
pany. 80
1t is said the Southern Railway Company
has secured control of the Flagler railroad,
and will establish new Cuban service.
In the early afternoon trading some &C
tivity and strength developed in the Steel
and Iron shares. Tennessee Coal and Iron
being the leader in the upward movement.
The railway shares were somewhat neglect
ed, with the exception Of the Wabash issues
and st. Louis and San Francisco shares.
the latter stocks making sharp recoverfes
from the early declines.
In the late trading the market again
weakened on sales by room traders helped
by the larger bear interests on the failure
of the Senate to take UP the Aldrich bill
today. Good support was noticeable In
sugar. Union Pacific, the Gould stocks and
In ST. Paul.