The times. [volume] (Richmond, Va.) 1890-1903, 1902-04-23
Gallant Rally Made Against be.
preston in Prices.
CHECKED SELL c FOR A TIME
losses wero at One Time Pretty Cen
orally Recovered, but Action of
Reading Caused Another Slump.
Close Was at the Lowest.
fprA,.o.,ufcd prcss,1


NEW YORK. April 22.-To-days stock
market had the appearance OF being urea.
IN the language of brokers. a gailant
rally was made against the depression
and tho sy,npathetic influence Of rather
aggressive strength developed in some OF
the Eastern railroad stocks. had the ef-
feet of checking the selling in the West
ern field. so that the losses were az one
time pretty generally recovered. But the
action of Reading strongly Indicated
elimination of the upward movement IN
tha. 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 rail-
road stocks fell away to the lowest or
the day. and the gains which had been
established elsewhere among important
The market closed active and weak ana
generally at the lowest. A violent break
in Sugar to 1221h. after selling up to 12Is4
was q contributing cause 70 me late weak :
apprehension that the diiferentiai duty on
sugar will be removed or the Cuban reci-
procity bin will fall There were the
usual violent and erratic movements in
q number Of specialties. which have come
to be a regular feature of the daily stock
market. The upward night Of Nashville,
Chattanooga and st. Louis was due to the
reports. subsequently denied, that the
stock would be changed for Louisville
and Nashville Rumors were revived ct
and notwithstanding Chemical.
The movements In International Power,
American Grass Irvine, Welis-Fergo and
Hartford, Long Island. the -Keokuk and
Des Moines stocks and others were unex-
planned. The early recovery IN the market
was stimulated by reports OF showers in
the winter wheat belt. but the grain
carrying roads showed a nervous tone
throughout. and the real sustaining in
fiuence in the market was the buying of
the Coalers. both hard and soft. and the
tzing in Reading left the market vulner-
able again to the influence of a rally in
the The st naay that
crease during the week In the visible sup
ply of wheat. Speculative opinion is re-
signed to the hope Of only an average
tons. and is prepared to expect a crop
disaster in the event Of unfavorable con-
ditions.
A reassuring effect was produced by the
Indifference expressed by the principals
in the Northern Securities Company to the
filing of the suit in the Supreme Court
against the. company or. the ground Of
event. But any decision which would de-
feat the purchase of the constituent COM
panies by the exchange of their stock
have far-reaching consequences 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 q buyer for sew
eral days, and thus helped to strengthen
the foreign exchange market
Speculative bonds were weak and the
market generally was irregular. Total
sales, par value. s3,345,OoO United States
rs advanced II per cent on the last call
The total sales OF stocks for the day
were 1.621, 800 shares.
MONEY AND EXcHANGE-Money on cali
close firm at 100 per cent; closing bid and
AZ @aA per cent. Sterling exchange firm with
actual business in bankers bills Mt s4S73: a
4-s7.s Tor demand and at S4.s5!s for sixty