The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1902-04-23
STOCK MARKET
APPEARED TIRED
Gallant Rally Made Against the
Depression
STRENGTH IN RAILROADS
Nashville, Chattanooga and st. Louis
Took an Upward Flight, Due to
Report That Stock Would Be
Changed for L. & NJ.

New York, April 22.-Today's 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 developed
in some of the eastern railroad stocks,
and had the effect Of checking the sell
ing In the western field SO that the losses
were at one time pretty genrally recov-
cred. But the action of Reading strongly
indicated a elimination of the upward
movement In this stock on the taking OF
speculative profits, and an afternoon
rally In the wheat market re-awakened
the anxiety felt for the winter wheat
crop. The western railroad stocks fell
away to the lowest Of the day, and the
gains which had been established else
where among important railroad stocks
melted away. The market closed active
and weak and generally at the lowest. A
violent break in sugar to 1221s after SELL
ing up to 1874 was contributing cause
to the late weakness and was attributed
to the growing apprehension that the diff
ferential duty on sugar will be removed
oc the Cuban reciprocity bill will fail.
There were the usual violent and erratic
movements in number of specialties
which have come to be q regular feat
ure of the daily stock market. The up
ward flight of Nashville, Chattanooga
and st. Louis was due to the reports sub
sequently denied that the stock would
be changed for Louisville and Nashville.
Runors were revived or a consolida-
tion of American cotton oil of Virginia.
Carolina chemical. The movement In in
ternational power, American grass Irvine,
We Is Fargo, New York, New Haven
and Hartford, Long Island. Keokuk and
DesMoines stocks and others were unex-
planned.
The early recovery In the market was
stimulated by reports of showers In the
western wheat belt, but the grain-carry-
ing roads showed nervous tone through
out and the real sustaining influence in
the market was the buying of tn coal
ers, both hard and soft, and the Morgan
railroads. The evidence of realizing in
Reading left the market vulnerable again
to the influence of a rally in the wheat
market although that was said to be
partly due to the heavy decrease during
the week in the visible supply of wheat.
Speculative operation Is resigned to the
hope of only an average winter wheat
crop under promising conditions and Is
prepared to expect crop disaster In the
event VI uHldNOTdDit cOHultfpfiS. n TcdS-
suring effect was produced by indifference
expressed by the principals in the North
ern Securities Company to the filing Of
the suit In the Supreme Court against
the company on the ground that the con-
solidated ownership of the properties is
safe lin any event, since only the method
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 company would have far
reaching consequences on many projects
undey way and to which Wall street
looks for great results. London turned
seller of stocks In this market today at
ter 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. Total sales, par value, $685.
00O United States rs advanced " per
cent on the last CALL
New York Stock Market.
BY Private Wire to Murphy d ca