Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-04-04
A General Advance Marked the
Opening Today.
RAILWAY LIST WAS ACTIVE
Many of the Stocks Touched the Old
Time Figures.
HILL SECURITIES FEATURES
Union Pacific, Reading, st. Paul and
B. R. T. Showed Large Gains
London Favored Market.
RAILWAY LIST WAS ACTIVE
HILL SECURITIES FEATURES

NEW YORK, April 4.-The combination
OF lower rates for money and the general
Improvement in the condition OF foreign
bourses together with the absence of any
disturbing news In Wal street, had its nat
ural effect on the stock market today in
general advance that particularly
marked in the railway list
Before the market opened the report cir
Culated yesterday that the threatened rail-
road strike in the west had been ayerted
was confirmed in dispatches received by
commission houses. and as the day pro-
crossed confidence grew stronger in the
truth of the rumor.
The market became buoyant and the
whole list advanced rapidly.
London was at first seller on this side,
but when Ii became evident abroad that
the Reconsideration controversy was
not being allowed to affect the stock mar
ket London became buyer, particularly
of Union Pacific.
Whatever private feelings were aroused
In Wall street over the embodiment of the
President of the United States and Mr..
Hartman. public interest. at least, kept
them pretty well under cover, for it was
generally recognized that the washing of
dirty linen in public was not an exercise
calculated to hasten the return of foreign
confidence in the local securities market,
nor Yet of that well-distributed though
powerful class of people in this country
known as the small investors
Public Confidence Improved
The advance today owed much to that
We public confidence which has been con-
spicuOus by it's absence until now, Tough
undoubtedly the covering of a large short
interest helped along the movement. AS it
was stocks touched figures which had al
most ceased to be familiar through long
absence from the list.
The Hill securities were particularly active
on speculative buying. and by II o'clock
they had registered large gains. in company
with Union Pacific. Reading. st. Paul and
Brooklyn Rapid Transit. Interest in the
last mentioned stock was strong because
OF the speculative purchases made on the
theory that the public ut'''tes bill would
fail OF passage at Albany. or would be so
amended as to leave the governor nothing
to do but veto It,
Colorado Fuel and Iron was also closely
watched on the rumor that proceedings were
impending against the company by the gov
eminent looking to the restoration of coal
lands alleged to have been Illegally taken
by IT..
Notwithstanding the renewal of the in
terstate commerce commissions hearing In
Washington today the market remained
strong all through the morning, with only
occasional and important recessions.
very cheerful tone prevailed and many
traders were of the opinion that prices were
on their way, If not to their December
levels. at least to a better average than
they had been since March IA.
In the middle of the afternoon announce
ment was made that the firm of ]. P Nor
gan & Co. had taken over S5,JO0OOO In one
year notes of the Erie railroad, and that
S3,O0OtoS OF the amount realized by the
company would be expended to meet the
notes coming due this month and $1,000 900
OF the residue would be set aside for SINH
lar purpose on notes coming due in July.
The money market continued its course
toward easier rates for both time and call
loans Call money ruled generally at "a
per cent and very few longtime loans were
effected above per cent,