The Washington times., 1902-04-12
Activity in This Feature
Still OverShadOWS the
Market.
DENIAL OF INTENTION TO CORNER
London Prices for Americans
Higher on Rumors of
Peace.
CROP REPORT DISAPPOINTING
Statement of Wheat Conditions Of Little
Effect on General Dealings, However,
Dealings in Lighter Volume, But In
-terest Well Distributed.


NEW YORK. April 1.-THE continued
abnormal activity in Louisville and Nash
vile stock again overshadowed all other
features of todays general situation re-
lating to the market for securities. Even
the Government crop report and the uneN-
pectedly favorable indications regarding
tomorrow's bank statement were received
with comparative indifference. and at any
rate were accorded scant attention in
comparison with the interest taken in the
movements in Louisville and Nashville.
An Eight Point Rise
In this mornings market the stock
scored an extreme advance OF over s
points from its low level Of yesterday and
sold over points above its closing price
then. Wall Street was assured early to-
day that there was no intention the
part CT recent heavy purchasers Of the
stock TO bring about a corner in it, and,
in facI. the brokers acting for the larg-
est buyers offered it freely in the loan
market
These circumstances served TO allay.
to some extent yesterdays apprehcn-
sions that : corner might develop in
Louisville. and. IN consequence the gen
eraI market. while exceedingly irregular,
had much f-mer IcRe than it showed
then
No Light on L & \.
Little light Was thrown upon the ac-
tual status OF Louisville and Nashville
affairs. There v2s still strong cur
rent Of opinion that The accumulation Of
the stock during the last ten days re
nected mere than 2 mere speculative
movement in it, but no definite light was
thrown upon the identity of the interests
which might be desiTous o. obtaining con-
troll of the property.
The Pennsylvania Railroad Was men
toned in this regard, but that company
was named only because of the difficulty
of fixing upon any ether probable buyer.
There was a wide difference in the rela-
tive prices of Louisville and Nashville
between the London and the local mar
kets o circums lance which was pointed
10 as negativing the notion that the con
slant buying of the stock represented
anything more than a bold local specu-
latiye movement
Advance at London.
With the exception CT Louisville and
N.SDNllie, alItIiCdH Sloth9 NtAN Sh4SAAS
in the London market where there was a
general advance in prices. based on the
belief that the latest negotiations for the
settlement of the South African war
would have sucoe essful issue. These
ideas were reflected in an advance OF
nearly one point in Consols, point OF
some significance Foreign houses dwelt
quite extensively on this market, and CD
balance were purchasers of about 12,oVO
shares Of stocks
The Governments crop report setting
forth the conditions of winter wheat on
the first of April, was a disappointing
showing but il seems to be the common
opinion that since the compilation OF the
figures there had been a material i'm
proyernent in the state of the crop.
Improvement by Rain.
While the percentages shown indicated
clearly that the Southwestern States have
been still suffering from continuation
of the conditions incidental to the pro-
tracted drought of last summer and au-
tumn, It was thought that with an ade-
uuate precipitation of moisture during
the remainder of the spring satisfactory
harvest might still be reaped. At all
events tne showing made by the Govern
ment crop report could not be cited as
among the decisive factors IN Inc DAY
market.
Money on call continued active within
the general range of rates which pre-
vailed yesterday. Notwithstanding the
weeks gold shipments. the banks appear
TO have made small gain in actual cash
since last Friday, and unless there should
be an Unexpectedly large increase in the
loan account tomorrow, it was thought
they would be able to show up fairly
well In tomorrow's returns.
Anthracites Unaffected.
Today's advices from the anthracite
coal regions were rather disconcerting.
but the stocks directly concerned were but
little affected in consequence.
At today's meeting of directors of the
Chicago, indianapolis and Louisville Rail
road a dividend OF / per cent was ie-
eiared on the common stock, but no state
ment as to the periodicity OF the dividend
was made. The stock had broken sharply
in the early part of the day. but recovered
considerably on the announcement of the
dividend.
Dealings were in much lighter volume
thar yesterday but interest was quite
well distributed Notably firm features
of the railway list were Canadian Pacific.
Chicago Terminal shares. St Louis and
Southwestern and Duluth. South Shore
and Atlantic. Price movements in st.
Paul. Union Pacific. Missouri Pacific, and
the other usually active stocks were lin
tied Little was done among the local
traction shares. Metropolitan was weak.
Among the Industrials.
In the Industrial quarter the United
States Steel issues showed renewed aud
effective pressure. American Cotton Oil
virginia Carolina Chemical and Sugar Re
aning were firm. Among the miscella-
neous stocks, strong features were Anal
ramated Copper General Electric, aud
International Power. The electric stocks
were also strong.
Money on call closed at sac per cent.