Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-03-18
FINANCE AND TRADE
Better Feeling in Stock
Market Today.
SOME GAINS SCORED
PROSPECT OF EASIER MONEY III
FUTURE -
Opening Of Navigation on the Lakes
Strong Card for the
Bulls.
cial Dispatch to The Evening star.

Special Dispatch to The Evening Star.
NEW YORK. March 1s.--Although Lon
don prices for American railway shares
again showed irregularity and weakness at
the start. as was the case yesterday. our
local stock market at the opening con-
tinued to show a more cheerful tone. The
rally yesterday afternoon gave a little more
confidence to the room traders. and COM
mission houses had a few buying orders
from out-of-town clients.
While there were no sensational features
Of strength at the start today. the general
average in the initial prices was about Y
per cent better than the previous days clos
ing figures. and small gains were added
thereto in the first half hours trading.
The best advances occurred in Amalga-
mated Copper and in American Sugar Re-
filming common stock. the Iormer gaining
about per cent on a resumption OF buying
that had the appearance Of coming from the
Standard OIL pool
The news was that the metal had again
been advanced in London. In Sugar stock
the bull factor. aside from the large short
interest In this speciality, appeared to be
quickly take favorable action on the Cuban
reciprocity treaty. and although the UNI
Outstanding with the democrats In the Sen
ate appears to postpone the operative effect
until the House has chance to ratify the
treaty, the measure will no doubt finally
become a bull argument on sugar refining
stock. 1t gained IL. In the early trading.
Another active Industrial was Corn pro-
ducts common. the price gaining about 1
per cent on buying occasioned by the dec
laration OF a per cent dividend for the
year, to be paid In quarterly installments.
Tennessee Coal and Iron again showed
good strength. and the buying was said to
come from good sources. The Readings
were all strong on buying by newly form
ed bull pool, which found the stock rather
scarce in the street. and expected to make
capital out OF the short interest in those
securities.
There was a slight pressure on Union
Pacific at the start, but the stock only
lost u per cent, and recovered this and
made a further gain of n per cent in SYM
pathy with the improvement in the gen
eral list.
Southern Pacific. St. Paul, B. and O..
Missouri Pacific and the Wabash shares
and bonds ruled fractionaly higher.
One incentive to the better feeling in the
market appeared to be the generally ex-
pressed opinion that money conditions are
expected to work easier, as the absorp-
lions by the subtreasury are growing less,
only amounting to a gain of $4,000 since
last Friday. as against $3,145,OOO for the
same period last week. There also con-
tinues to be some quiet calling in of loans
by some Of the banks.
Besides this, with the opening of naviga-
ton, a large export movement Is expected
to be shown, and In consequence the release
of lot of money will follow. The only
real factor for uneasiness then would seem
to be the labor unrest throughout the coun-
try. If this situation clears up a moderate
upward movement Is expected to occur
shortly, as there has been some good buy
ing recently On the reactions that have oc-
CURED within the past two weeks, and these
purchases will doubtless return fair profits
in the course of thirty or forty days.
After the first hour of trading business
slackened little and copper shares lost a
little of their early advance, but the gen.
eral market continued strong without APP
probable changes excepting here and
there slight rallies occurred.
Around the delivery hour CAB pm.) the
market showed some Of its earlier activity
and prices generally improved smartly.
In the late trading there was little natu-
raj reaction on profit taking. The under
tone, however, continued firm.