Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-04-23
FINANCE AND TRADE
Market Was Confused and
Uncertain.
WHEAT WENT HIGHER
MODERATELY SUCCESSFUL AT
TACK ON GRANGER ROADS.
Anthracite Situation Said to Be Prom
ising-Coal and Iron Stocks
Vigorous.
WHEAT WENT HIGHER
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, April 23.-The condition OF
today's stock market was confused and
uncertain. Two factions were aggressively
active in opposite directions and alternate
periods of strength and weakness resulted.
London sent over a higher range OF prices,
and out OF total OF 10000 shares about
1000 shares were purchases. The local
market opened strong, but gave little evil
dence of confidence and an irregular price
movement set In, resulting IN fluctuations
OF about 1 per cent from the opening level.
The news of the day was conflicting. An
advance In the price Of wheat and the I'M
favorable crop news permitted a moder-
ately successful attack upon the Granger
roads. The west was a free seller in this
group and practically every stock attacked
yielded rather easily. Union Pacific was
heavy all day and the selling in Atchison
and Missouri Pacific forced prices down
to the lowest points of the week
st. Paul was sold literally, but some of
the buying on the declines was rather bet
ter than the average. The news on the
crop situation was unusually conflicting
Atchison officials reported a satisfactory
crop condition. but admitted that better re-
suits had, at one time. been expected. No
loss in earnings in any way affecting the
prosperity of the property was regarded at
all likely
Burlington officials reported an encourag-
ing crop outlook and numerous other roads
reported condition better than the de-
pressing party in the stock market would
admit Missouri Pacific sold down under
par on selling which seemed to come from
the inside.
The western contingent. discovering the
source of the supply, abandoned all efforts
to advance the price.
Reading issues were taken in round
amounts during the morning and for a
time the strength in the coal shares SEEM
ed likely to lead the whole market into q
rally.
The anthracite situation IS said TO be
very promising and the fact that the date
set for the meeting of the arbitration COM
mittee is the last day OF grace allowed for
reaching a conclusion, leads to the belief
that no strike is contemplated.
Erie was strong during the morning and
numerous efforts are being made to arouse
interest in this property. The fact that the
road needs new money is too well known 10
admit of much enthusiasm for fits shares at
this time The surplus strength of the
other coalers may carry Erie higher, but
the advance will be merely incident TO
the main movement.
Tennessee Coal and Iron was vigorously
bought during the afternoon, and for a
time responded easily to the new business
Republic Iron and Steel was in good de-
mand during the afternoon also, but some
good selling was encountered in Colorado
Fuel and Iron. The much-discussed cir
cular OF the United States Steel Company
VIII be issued shortly in New York and
London and some movement in the steel
shares is likely to follow.
The political situation in Washington IS
looming up as a depressing influence since
the OBJECTIONS in the dominant party sug-
gest revival of tariff debates and a gem
eral tinkering with questions to which
commerce Is at present unduly sensitive.
Money was easy at 3s4 to per cent.