The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-04-24
THE MARKETS
Wall Street Review.

New York. April 23.--Today's transfers OF stock
again reached on aggregate of over million
shares, but the animation OF the speculation j.
cccidcily dctcTioratcd from the nearly 2.Wo.0oo
rc.y in the dealings today, but tho under.onc OF
the market decidedly heavy all day and tha
advances in some portions Of the list were INSULT
cient to clear up the tone. The weather news
IRON the western grain regions was the central
topic of discussion. Prices were successfully
turned upwards in the opening dealings, the
grain Carriers sharing fully in the advance. In
the case Of Aichison the opening rise was ~, but
half an hour later when trading began in the
grain markets with prices strongly advancing
those stocks gave way. The government weather
map was sufficient evidence that yesterdays hp'-
fnl estimates of sufficient rain to undo any
damage already done were not well toun.ed iiia
strong rise in the corn market also h.lped 10
deprcss stocks, Notwithstanding the unlikclihood
of any accurate knowledge ut this time OF the
chances of the corn crop. But the evidence a.
hand from day to day Of the far reaching effect OF
last years corn shortage is so impressive thai.
the speculative mind will evidently be very sen
sitive to the prospect of the coming crop Of that
staple. There wa, renewal Of recent active d..
mand for the Coalcrs the Readings again takins
the lead on the supposition that the settlement
of the wages dispute Is imminent When, how
ever, it was perceived that the strength in thi,
section of the market had little effect in char
acer. checking the dribbling liquidation OF west.
crn stocks, the movement in the coalcrS ceased.
Efforts were made on behalf OF the large s.ocu-
lativr leaders to convey the impression that the
sharp reaction in prices has been Connived at and
fnrlered by manipulation with the purpose of
shaking of weak speculative followers in prepar-
alton for renewed and stronger upward move
ment The market in fact showed the stronye.
technical position ing from the liquidation
Of the weaker class OF lightly margined accounts
Tho pressure to sell much less urgent and
the fall in prices not violent but the selling
was much less persistent and the downward ten
dency no less constant. The provision 10 bG made
for the great steamship merger, the coming stock
conversion by the United States Steel corpora
ton; the provision for the purchase of the Louis.
willie and Nashville and the subscription to the
Pennsylvania bond issue for ,0iW indicate
some of the heavy requirements upon the pres
cnt narrowed resources of the money market.
An incident of the day was the sharp rally in
Sugar of ~ on the expressions Of confidence
from Washington that agreement would be
reached on the Cuban reciprocity bill. The stock
closed with net gain OF %A. Amalgamated Cop
per, Tennessee Coal, the Cotton Oil and Virginia.
Carolina Chemical stocks, international Silver
preferred and number Of minor railroad stocks
on the ground of their strong strategic position
The Wisconsin Central stocks, the Toledo. st.
Louis and Western stocks and the Detroit South.
crn stocks We're in this class. The market clcsad
heavy. Total sales today. l,200,S0O shares on
solitlate Tobacco As We're strong and active.
Otherwise the bond market was irregular. Total
sales, par value $l,10O,C00. United States bonds