Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-05-05
Prices Opened a Shade Higher
Today.
WHOLE LIST STRONGER
MARKET EASED OFF ON PROFIT
TAKING.
Sugar, Pennsylvania and the Pacihcs
Were Among the Market
Features.

Special Dispatch to The Evening Star.
NEW YORK. May 5.-American railway
shares in the London market showed inn
provements ranging from \ to Y per cent
over our final figures of yesterday.
In the local stock market prices generally
were fractionally better and the specula-
tive temper appeared more cheerful. Bust
ness showed some improvement as regards
activity. and there were early buying orders
from London and some better demand for
stocks from out-of-town clients through the
commission houses
In the active list. there were good frac-
tional gains in Erie first, preferred the
second. preferred. and in Canadian Pacific.
The traction shares too. were all better
on inside buying. Metropolitan gained the
most at the start. on the report of Mr.
Jeromes expert accountant, who declared
Amory's charges of Encouragement and
defalcation against that company, to be
utterly baseless
There were also fractional gains In Erfa
common. st. Paul. Union Pacific the COP
per shares and Southern Pacific
sugar was strong at about u per cent ad-
vance, and the steel shares were a little
f1rmer
Among the specialties there were gains
extending to l per cent In Westinghouse
and Delaware and Hudson. Pennsylvania
ana Atchison common both sold ex dividend
today. the latter ex per cent and the
former ex per cent. Both stocks were
Iractlonally higher at the start, but soon
afterward shaded of a little Pennsyl-
vanta, however, was bought by Philadelphta
houses, and there was also some short
covering in the stock at the opening.
Canadian Pacific was well thought of by
the Montreal and London houses, both VI
Whch were buyers of the stock in an
t1cipation of a new issue of stock the
rights on which. az par. will be very val
uaole: IN the bond dealings Wabash de-
benture Bs showed good strength at an
advance of Is per cent. After the first half
Eour's trading prices shaded off fractional
~ on proft-takins sales induced by the
nigner opening figures. The tone, how
ever, continued firm, and the room traders
generally were disposed to trade on the
long side Of the account
AS an instance of the enormous freight
business being handled by the western
roads 1t Is stated the Baltimore and Ohio
on It's Plttsburg division. made a record
freight movement of the year, last Sunday
when 12.519 cars We're moved
Before the end of the first hour the mar
ket again rallied and the whole list became
active, with prices generally above OPEN
Ing prices. Metropolitan and Louisville and
Nashville. and Baltimore and Ohio common
were the strongest on this rally. the for
mer selling up 1 per cent, and the latter
Two going half per cent from the reac-
ton.
Up to noon there were over 300 900 shares
traded in. which is about 100 900 more than
yesterday Tor the same period of time. In
p0Hus the dealings amounted to 81 .O93 600.
forelgn houses were buyers of nearly
lO,OoO shares of stock in our market and
commission houses reported further i'm
provement in out-of-town orders
Inc market at noon continued to show
an advancing tendency and activity was
somewhat on the increase. ST. Paul was
acuve and higher by per cent than at the
opening. The Reading issues and Union Pa
CHIC. together with Baltimore and Ohio
ana the traction shares. also showed some
further gains over the first hours improve
ments This strength was shown in the
race or very fair profit taking in the ear
Ifer dealings and some rather free selling
Dy some OF the western spectators to test
the market. and there were efforts made
on the part of the bear faction to make
capital out of the strength In sterling ex-
change rates.
In the early afternoon trading there were
evidences of further profit taking, and the
market lost some of it's activity, with prices
generally shade easier. but pressure to
sell was lacking, and the undertone con-
ttnued strong.
Around o'clock another effort. on the
part of the bears. was made to precipitate
a selling movement. on further rumors of
gold shipments to Paris, but nothing def
mite came of 1t.
In the late trading the market presented
no new features. proflt-taking was still in
evidence, and being fairly well absorbed
by the larger interests, while prices were
only fractionally lower than the best