The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-04-10
o.
SUGAR NASUP lDD(|NN
MERCURIAL sToCK FIRST WENT
OFF EIGHT POINTS, AND THEN
RECLAIMED FOUR
-'.ttet .l5-d~ -ttsdtt s,<E.+' 4s--liS3
MONEY SITUATION A FACTOR
Saturdays UnfavorabIe Bank State
ment Had Expected Eject Upon
Stocks Generally - Bond
business Moderate.

NEW YORK, April 9-The stock mar
Ket made the expected response to Sat-
urday's s unfaVorable bank statement by
a general drawing in of speculative VEN
lures The selling pressure was not par
tlcularly severe in the general market,
put with the curtailment of the buying
demand consequently upon the disappoint-
ment over the bank showing, the burden
or offerings was sufficient to bear down
prices to lower level. The higher range
OF prices in London and an opening here
ABOVE saturdays level. In sympathy did
not have the hoped for effect of dissuad-
ing sellers. On the contrary, the higher
prices seemed to invite profit taking, and
the opening gains were not long main
tanned.
The acute depression manifested by
sugar mad an additional influence in de-
pressing the market. This mercurial In
oustrla! gave evidence during the latter
part OF the day of being oversold, and
after hay1ng fallen nearly eight points
recovered recover more than half of the decline.
Inc room traders who had sold the list
on the strength Of the weakness in Sugar,
were driven to cover by this rally, and
the aggressive strength developed at a
lew lew other points. As a consequence, the
cIoslnS was active and firm at q level
considerably above the low point of the
DAY, but showing net declines for the ma
3oflty OF stocks. The weakness of Sugar
IN the morning, caused signs Of lively
trial list -
Peoples Gas, the tobacco stocks and a.
liulnper or the irOneand steel stocks fell
away easily from II 1to 8 points, The
sLrength manifested by the New York
lractlon served as an offset to this The
ra a,lr}a list maintained a condition re-
sellpIing suspended animation. Large in
roaqs upon the Pacific stocks, Pennsyl-
tanld ana the grangers turned the tide
IQWardS' depression until aggressive
strength r developer In Missouri Pacific.
Inns Inns stock moved up to 541ac in the late
ira IrailSSIaSctlons on heavy buying. and Brook
~ irdnsit rose buoYantly to 791ac, with
q 1o stimulating effect ON the general list
" cry ~ hieaVy selling orders were attributed
~ Cn1cago account. and a sharp fall in
NeM ork exchange at Chicago to BIC dis
o9 Tbe. may have beensdue to this cause.
Inc movement In st7le specialties was
cue TO individual causes The street was
aui5 OF rumors allEday regarding Sugar
aeio having to don~ith the rise in price
" law raw sugar Brooklyn Transit was
manipulated by a pool with a preliminary
up Up TOT an advance. Disappointment over
me reported terms Of the Peoples Cas-
Vsuen settlement was the cause of weak
ness ats IN Peoples Gas. London Showed q
disposition to buy stocks here in spite Of
the stiffness of the London moneys market
o oe ine taxing up of another installment
VI the war loan, but last weeks large in
b ,te IN loans here is generally attri-
oo,,s 70 large borrowings for London ac-
COUNT 10 carry stocks here
Although the stock market weakened
IN me ne, banks showing. the money mar
re- nee aalieu TO show any effect Of the de-
crease IN the reserve of the banks.
volume. and prices we'll held Total sales
par value 81. 455 900. United States old 4s
and 0s declined 4 in the bid price
STOCK QUOTATIONS.
Furnished by Charles H. r. Smith a
20, members of the New York Stock ex-
gGnange, Pioneer Press building. who have
greet greet wires to Chicago and New York.
L H.