The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-09
STOCKS TONE FIRM
EFFECT OF THE FURRY IN THE
MONEY MARKET Is DISSI-
PATED IN WALL STREET
MEN OF WEST RULE MARKET
louisville & Nashville shares the
Central Figure in Days Trading,
While Wisconsin Central Is
Also Conspicuous.

NEW YORK, April S.-The effect of
yesterdays furry in the money market
was dissipated today and an aggressive
leadership was developed on the recovery
in stocks. This leadership seemed to
remain with the Western men, who took
hold Of the market late last week. There
was some evidence that their forces had
been recruited from other sources, while
their position was stronger by reason
of the shaking off of weak following
by yesterdays reaction.
The extension of the short interest
during yesterdays decline was also q
technical factor of strength in today's
market The reinsurance of the Specu-
latiVe element was not immediate this
morning and there was considerable wa
Verlng and uncertainty in the early move
ment Of prices. In fact, there was not
much in the market up to noon outside
of persistent absorption of Louisville 81
Nashville and the sharp advance in
Amalgamated Copper, apparently con-
tinuation Of yesterdays movement.
Louisville q Nashville proved the CEN
trail figure of the market and it's aggres-
siye advance was the dominating factor
in the broadening demand for stocks. The
dealings in the stock were on an enor-
nous scale and there were indications
that the Western contingent Of Specu-
by a well known operator who only re-
Gently returned from d long trip to re-
cuperate his health.
Wisconsin Central Conspicuous.
The explanations offered for the rise
We're mostly in the nature of surmises
on the part of spectators. The re-
ported acquisition Of the Atlanta, Knox
vile & Northern railway was believed
to be the preliminary to active incursion
INTO. new territory. The belief was OK
pressed that the new issue of $5,0O0,CoO
of stock for the purpose Of this pur-
chase has already been marketed, thus
freeing the market from the future Of
terIngs of 1t. The aggressive policy IN
n traty 1tan
conjectures as to the possibilities of the
establishment of a community of interest
in the territory concerned. Illinois Cen
tral and Southern Railway preferred
We're benefited by sympathy.
The movement spread into the South
western stocks and st. Paul, but Union
Pacific, Southern Pacific and AtchisOn
We're little affected by the movement
FanderblltS of from one to three points,
and large number of minor stocks of
winch the Wisconsin Central stocks were
most conspicuous, were vigorously adj
Fanced. The list of minor stocks was
also as large as had recently been the
The Westinghouse Electric stocks made
sensational advances Of 1412 for the COM
mon and Is for the first preferred on
the strength of an analogy with the his
tory, Of General Electric The whole
market gave sway on the proft-taking
which developed in the last hour, and
| the principal active stocks We're carried
I back from one to two points The mar
ket closed easy. The rate for call loans
today held firm at 6 to per cent. It
was believed that this rate would check
further shipments of gold and this as
surance was a considerable relief to SEN
tiAent
The calling of loans yesterday seemed
to have strengthened the situation of
the bank SO far that the feeling in the
money market today was much quieter
The Central Of Georgia income bonds
were the features of the bond market at
advances of to 312 per cent. The Green
Bay & Western Bs were also strong and
active. Otherwise the bond market was
rather quiet but firm. Total sales, par
value, So, no, 600.
United States bonds were all unchanged
on last call.