Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-04-21
FINANCE AND TRADE
Stocks Were Considerably
Stronger Today.
GOOD GAINS MADE
RAILROAD LIST LED IN THE AD-
VANCE
Sentiment Of the Street Seems to b tor
Higher Prices for the
GOOD GAINS MADE
special Dispatch to The. Evening Star.

NEW YORK. April 21.-In the London
stock market Americans showed advances
over our closing figures of yesterday Of
from II to n per cent. Consols were II per
cent better for both accounts.
A month ago word was passed around
the street that there would likely be buH
market in evidence about the time the new
stock exchange was ready for occupancy.
The new exchange will be dedicated to-
morrow. Wednesday. and the market for
the past few days. IL not a genuine bull
movement, has given us very good imi-
tation of one. We have had ups and downs
to be sure for the past week, but after each
reaction. in which support from the large
professional operators has been in evidence.
there have been quick recoveries, in which
advances were scored over the previous
rallies.
Sentiment has outgrown, to a large ex-
tent its nervousness and sensitiveness re-
garding bear rumors of what the govern.
ment is going to do with the trusts and
combines. In fact. a great many conserva-
tive people in the street are arguing that
there is nothing to be feared from this
source until a decision on the Northern
Security merger case is handed down w
the United States Supreme Court, probably
not before next November.
The money situation is very comforta-
BILE one just now; new issues Of stocks and
bonds by railroads and Industrial concerns
are likely to receive a check until those
already issued have been better digested.
and there is a good deal more thought
given to the large winter wheat crop and
the more than satisfactory railway returns
in both gross and net returns. The opening
today was fairly buOyant; prices generally
were from u to Is per cent better than yes
terday's closing figures. and in a majority
of the active stocks the improvements were
about ~ per cent.
Manhattan was an exception. in that its
gain was 1 per cent.
The Gould issues were all strong and
the trading in them quite active. Missouri
Pacific sold we'll above ITO. Wabash pre-
ferred gained about q per cent, Baltimore
and Ohio advanced q at the start and was
the leader in the soft coalers. all of which
showed good Improvement now that the
differences of the miners of bituminous
coal fields have all been settled. Norfolk
and Western and Chesapeake and Ohio
were also firmer and the buying in all
three of the above named stocks has been
OF the best for the past week.
st. Paul maintained good strength, not
withstanding reports of the illness of one
OF the large stockholders In that system.
and there was good improvements scored in
Union Pacific, Pennsylvania and the Atchi-
son shares.
In the industrials Sugar displayed the
best strength; the Copper shares were in
clined to shade off a little a little weak
ness developed in these shares in the Lon
don market.
In the bond market the Wabash deben-
ture BIS were a feature of strength. selling
up rs per cent After the initial trading
there was some profit taking on the adj
vance. the market generally reacting frac-
tOnally therefrom, but by the end of the
first hour the market again rallied and
prices were equal, and. i'm a ma jOrity Of
issues. above opening figures, with rather
a bullish sentiment predominating. The
SubtreaSury lost $446O 600 to the banks yeS-
terday, and since last Friday that institu-
ton has lost $2.045. 600 to the banks.
The Reading issues were considerably
of the interstate commerce investigation.
The Erie shares were also strong, and the
buying was considered of the best. One Of
the best features Of the speculation today
has been the broadening out aspect OF the
market, the low-priced shares and some of
the inactive industrials issues showing ac-
tivity and strength. which has been notice.
ably lacking in the past few weeks.
There were 366, 400 shares traded in I'D to
noon and in bonds 81. 500, 900. London
traded in about 1900 shares, doing scarce
ly anything on balance. Commission houses
some Improvement in out-of-town
business.
The market at this hour continued to
show good strength. but business was some
what restricted. owing to the pending holi-
day tomorrow.
III Tie early dIteTHooH tTduiils tlle nislrNce
became a little more active. and there were
good advances scored in st. Paul, Rock
Island. Atchison. Southern and Union Paci-
fic and Southern railway issues. Around
the delivery hour (2:15) there were some
profit-taking sales. which had a fractional
decline in the general list; the greatest loss
occurred in Manhattan, which declined
about / per cent. These sales were in small
however, and did not look Sig
nificant.
In the late trading the market gave evi-
dence of a strong closing, there no
pressure to sell observable, and the traders
were inclined to bid up prices. Business on
the exchange will be suspended tomorrow
on account of the ceremonies attending the
dedication of the new stock exchange build
ing.