Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-04-22
FINANCE AND TRADE
Heavy Realizing Made Stocks
Rather Heavy.
BEARS HAD CONTROL
SOME GOOD BUYING ON A SCALE
DOWN.
Sharp Advance in Chattanooga, Fol
lowed by a Decline in
4. Short Order

Special Dispatch to The Evening Star.
NEW YORK. April 22.-Realizing upon
an extensive scale. after a strong opening.
gave today's market an appearance Of
heavfness which threatened the destruction
OF the slowly maturing optimism in COM
mission house circles. London was a free
seller during the morning taking profits on
recent purchases and buying back but a
small amount of the active shares.
The western element were credited with
large sales after the noon hour, and all the
stocks which figured in yesterdays ad-
vance had sharp setback in consequence.
Reports Of rain in the west failed to arouse
any interest in the stocks directly con-
cerned, and substantial selling orders
forced prices down in all parts of the list.
Union Pacific was sold by the western
party and ST. Paul was forced down over
2 per cent under a steady stream of liqui-
dating sales. All the granger roads were
under pressure during the first half of the
final hour. but whenever the pressure was
decreased prices rallied very easily. The
selling. like the buying on previous days.
served to confirm the belief that the whole
market is extensively manipulated.
Reading sold up under big dealings during
the morning all three issues coming In for
q big demand. After the opening hour a
desire to realize was noticed in certain
quarters and the price was let off In order
to force out weak holdings. The pool
worked aggreSsively both ways during the
day, and there was no abatement of conf
dence In the improving value of this prop
erty.
The street is coming around to a con-
seriousness that sudden rises such as have
been of frequent record during the last
fortnight, must give way, temporarily, at
least, to more solid management Read
Ing. for example. may have a big rise
ahead, but there is nothing urgent in the
recording of prices which can only be JUS
titled by slow progress under present meth
DDS
Pennsylvania showed signs of new life
during the morning and bid fair to assume
the leadership of the entire market. 1t was
stated that the floating supply of stock had
been materially reduced, and that this fact
together with the splendid character of the
property, made an advance an attractive
consideration for the leaders of the mar
ket. Southern railway and Nashville were
moderately active during the day. the de-
mand for the former being especially good.
Chattanooga was advanced to 1221a dur
ing the morning, gain of 10 per cent, and
later sold back to 112. from which it rallied
and was given fair support. International
rover reached new high level, and the
puying or Rutland preferred forced the
price OF that stock up to it's best level.
w nile advances in the inactive issues were
numerous, there was no Roadway made
with the better known properties.
Inc traction stocks were strong at times
under pool buying, a considerable scale,
but there was no material increase in the
public demand for this group
Conflicting movements Were noticeable in
sugar. but the price, the whole was
well sustained. Amalgamated Copper was
steady under mixed buying, and the steel
shares were given good support. American
Smelling was heavy. the result of the
fall in the price of silver. but there was
some good buying in Republic Steel shares.
Money was easy. and the routine news OF
the day was not unfavorable