The Savannah morning news., 1902-04-23
STOCKS AND BONDS.

New York, April 22.-To-days stock
market had the appearance of being
tired, in the language of the brokers. A
gallant rally was made against the de-
preston and the sympathetic influence
of rather aggressive strength devaI-
oped in some of the Eastern railroad
stocks had the effect of checking the
selling in the Western field, so that the
losses were at one time pretty gener-
ally recovered. But the action of
Reading strongly indicated a culmina-
ton of the upward movement in that
stock, and the taking of speculative
profits, and an afternoon rally in the
wheat market reawakened the anxiety
felt for the winter wheat crop. The
Western stocks fell away to the lowest
of the day and the gains which had
been established elsewhere among i'm
portant railroad stocks melted away.
The market closed active and weak
and generally at the lowest.
A violent break. in Sugar to 1221s, af-
ter selling up to 127A, was a contrib
uting cause to the late weakness and
was attributed to the growing appre-
hension that the differential duty on
Sugar will be removed or the Cuban
reciprocity bill will fail. There were
the usual VIOLENT and erratic movements
in number of specialties which have
come to be a regular feature of the
daily stock market. The upward flight
of Nashville, Chattanooga and ST
Louis was due to the reports, suisse
quently denied, that the stock would
be changed for Louisville and Nash
Vile. Rumors were revived of a con-
solidation of American Cotton Oil and
Virginia. Carolina Chemical. The
movements in International Power
American Grass Twine New York
New Haven and Hartford, Long ISL
and and Wells Fargo stocks and others
were unexplained. The early recovery
in the market was stimulated by re-
ports of showers in the winter wheat
belt, but the grain carrying roads
showed a nervous tone throughout, and
the sustaining influence in the market
was the buying of the coalers, both
hard and soft, and the Morgan rail-
roads.
The evidence of realizing in Reading
left the market vulnerable again to the
influence of rally in the wheat mar
ket, although that was said to be part
ly due to the heavy decrease during
the week in the visible supply of
wheat. Speculative opinion is resigned
to the hope of only an average winter
wheat ropunder promising conditions,
and is prepared to expect crop dis
aster in the event of unfavorable con-
ditions. A reasuring- effect was pro-
duced by the indifference expressed by
the principals in the Northern Securi-
ties Company to the Hing of the suit
in the Supreme Court against the COM
pany on the ground that the CONSOLE
dated ownership of the properties is
safe in any event, since only the meth
cd of holding them is aimed at by the
suit. But any decision which would
defeat the purchase of the constituent
companies by the exchange of their
stock for the stock of the new COM
pany would have far-reaching conse-
quences on many projects under way,
and to which Wall street looks for
great results. London turned seller of
stocks in this market to-day, after
having been a buyer for several days,
and thus helped to strengthen the for
eign exchange market.
Speculative bonds were weak and the
market generally was irregular. To-
tai sales, par value, $3,345,000.
United States rs advanced u per
cent. on the last call.
Total sales of stocks to-day were L.
621, 500 shares, including Atchison, &c.
100; Atchison preferred, S,400; Balti-
more and Ohio, 1890; Canadian Pa
cific, %, 100; Chesapeake and Ohio. $500;
Chicago Terminal preferred, $500; Erie
az, 800; Erie nfSt pfeIeFfeu, 14,1oV' Etie
second preferred, 9,100; Illinois Cen
trail, 800; Louisville and Nashville,
9.1O0; Manhattan, 1880; Missouri Pa
cific, 1880; Norfolk and Western, 49,
300; Ontario and Western, 42,600; Penn
sylvania,t 43 900; Reading, 264,600; Read
ing first preferred. 1850: Reading sec
ond preferred, $500; ST. Paul, 4S,90o;
Southern Pacific, $4,000; Southern Rail-
way, 16S, 300 Texas Pacific, $500; Union
Pacific, rs, 700; Wabash, $500; Wabash
preferred, 5000; Amalgamated Copper,
81. 900; American Smelling. 800;
Brooklyn Transit, 24.600; Colorado Fuel,
% 400. international Power, $500; Re-
nublic Steel. 6. 200; Sugar $4,000; United
states Steel, $4,000; United States Steel
preferred, $4,000; American Locomotive,
14,10O; American Locomotive preferred,
$500.
na.u York stock and Rond Last.