The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-23
SHARES WEAK AND LOWER
MARKET CLOSES ACTIVE AT THE
DAYS MINIMUM PRICES.
Crop Prospects Depressing Inhu-
ence i'm StOcks-LOndOn Heavy
Seller in the American Market.

NEW YORK. April 22.-To-day's stock
market had the appearance of being tired,
in the language OF the brokers. gallant
rally was made against the depression and
the sympathetic influence of rather agrees
sive strength developed 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
generally recovered. But the action of
Reading strongly indicated a elimination
of the upward movement in this stock and
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 elsewhere
among important railroad stocks melted
away. The market closed active and weak
and generally at the lowest. A violent
break in Sugar to 12215, after selling up to
1874, was a contributing cause to the late
weakness and was attributed to the grow
ing apprehension 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 regular feature of the daily stock mar
ket The upward flight of Nashville, Chat
tanooga & st. Louis was due to the reports
subsequently denied that the stock would
be changed for Louisville & Nashville. Ru-
mors were revived of a consolidation OF
American Cotton Oil and Virginia Carolina
Chemical The movements in International
Power, American Grass Irvine, Wells EAR
go, New York, New Hagen & Hartford
Long Island the Keokuk q Des MONIES
stocks and others were unexplained. The
early recovery in the market was slim
uated by reports of showers in the winter
wheat belt, but the grain-carrylng ROADS
showed a nervous tone throughout, and the
real sustaining influence in the market was
the buying of the cOalers, both hard and
soft and the Morgan railroads. The EVIL
dence of realizing in Reading left the mar
ket vulnerable again TO the influence OF
rally in the wheat market, although that
was said To be due partly to the heavy de-
crease during the week In the visible supply
of wheat. Speculative operators were re-
signed to the hope of only an average WIN
ter wheat crop under promising conditions
and are prepared to expect crop disaster
in the event of untaVorable conditions. n
reassuring effect was produced by indiHer-
ence expressed by the principals In the
Northern Securities Company to the ming
of the suit in the Supreme Court against
the company on the ground that the con-
solidated ownership of the properties is saIe
in any event since only the method OF hold
ing them is aimed at by the suit. But any
decision which would def9at the purchase
of the constituent companies by the eX-
change of their stock for the stock or the
new capital would have far-reaehlng conse,
quences on many projects under way ana
to which Wall street looks for great results.
London turned sellers of stocks in this mar
ket to-day after having been buyer for sew
eral days, and this helped TO strengthen
the foreign exchange market.
Bonds were quiet. Total sales, at par
value, were $3345,0O0. United States twos
| advanced n per cent. on the last call
Following are the days share sales and
/ the recorded price changes: