The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-04-29
WALL STREET Indifferent
TO STOCK SPECULATIOMS.
TRANSACTIONS THE SMALL
EST FOR TWO WEEKS.
Tone of the Market Uncertain and
Movement of Prices Is Not
Uniform.

New York. April 2~s--Speculative interests
in stocks shared a considerable falling off
to-day, and the full days transactions
barely reached a million shares for the first
time in two weeks. The feverish activity
which has characterized the recent leader
ship of the market was decidedly lacking.
If the rather large dealings in Reading be
excepted. The tone of the market was
mating and uncertain. and the movement
OF prices was not uniform. The predomi-
nant movement. while ii failed to embrace
the whole list. itself changed often in the
course OF the day. The failure of the con-
terence committees of anthracite miners
ana operators to agree on terms Oh Satur-
Gay was a disappointment, and the tone of
the comment OF the parties to the confer
ence created a disagreeabIe impression. The
result was free selling of Reading in the
opening dealings, which affected the whole
market. This weaknes was overcome by
strong advances in some of the high-priced
coalers.
Effect of the HiRh-Priced Stocks,
The part played in the market by the
high-priced stocks. of which the floating
supply Is very small, was notable, and their
Wide movement resulted from a light vol
ume OF transactions. AS the upward flight
of Delaware and Hudson and of New Jer-
sey Central rallied the Readings. SO did the
tHN Nv 2NolN hNe5ltIu
stocks give some strength to the grangers
and Pacifcs. St. Paul WAS lifted 2 points
over last night. and there We're gains of 1
TO z points amongst the Southwesterns. The
gains were not well held. however,. ard
there were constant relapses when the mar
ket was allowed 10 become quiet. New
York, New Haven and Hartford was an
other Of the high-grade stocks to move, but
1t saved only a point OF its I-point advance.
Among the industrials specialties there
were wide advances in Pullman. %Intelna-
stcnal Power. American ENprpSS praSsad
Steel Car preferred. Railway Steel Spring.
and some others which are even more sell
Chemical and American Agri-
cultural Chemical We're advanced on talk
of consolidation. There .wefe stocks of a
number of small railroads which were
bought on reports of the great activity of
local traffic on the railroads. which Is cal
culated to benefit especially this class of
roads. and the demand resulted in wide ad-
vances in some of the preferred and close
ly held common stocks.
Reports of Earnings Favorable.
Reports of railroad earnings received
during the day were generally favorable
and included net earrings for March of a
Tennessee Coal were bid up late in the day
as the local fractions had been earlier, but
reiapsed again without much effect on the
general market. The varying movement in
the grain market was reflected from time
to time in the stock market. but not In a
way. The usually active industrials
were quiet, generally neavy. Inc reduction
in the Calumet n Hecia dividend de-
pressed Amalgamated Copper; Sugar was
affected by lower prices for the refined.
United States Steel seemed To reflect dis.
approval of the bond issue. and United
States Leather wa affected by realizing.
The frmness Of foreign exchange reawak-
ened discussion of probable gold exports,
but the money market was unaffected. The
bond market was moderately active and
strong. Total sales. par value, si.Ol.GoO.
United States bonds were all Unchanged on
the last call. 80