The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-15
STOCKS TAKE A FALL
ALL LINES BREAK IN A FEVERISH
AND EXCITING CLOSE IN
WALL STREET
CHANGERS At FIRST STRONG
Louisville & Nashville Makes Sensa-
tiOnaI Advance to 1873, Unset
ties Sentiment and Causes
General Unloading.

NEW YORK, April 14-There was a
feYer1sh and excited close in today S
stock market after a day of varying SEN
timents. The earlier strength was not
maintained, in spite of wide advances in
a few stocks and the course was gradu-
ally d0Wnwards until the late dealings,
when there was a general break all round.
Prices had risen again after the sagging
tendency under the stimulus of the ex-
traordinary advances in some of the
Changers and Northwesterns.
But the realizing under cover of this
strength and the sensational advance to
133 in Louisville IL Nashville unsettled
sentiment again and led to the general
unloading in the final dealings. There
were some feverish and spasmodic raj
hes, but the market closed feverish and
irregular with a weak undertone. Much
attention and surmise were given to the
Louisville & Nashville situation, and
the disposition to be made of its control,
which is now without dissent understood
to have escaped its longtime holders
Some hope is entertained that communi-
ty Of interest in the trunk lines been
seems to have been acquired without any
large railroad policy in view, but simply
for speculative profits.
Rise in Changers Unexpected.
It is patent that great financial and
railroad interests are now striving to
point of railroad policy, which necessi-
tateS settlement to the satisfaction of
the interest which has secured almost
any chance. The action of the stock to-
day did not indicate any very definite
prospect of settlement, the feverish
hight of the stock indicating rather pro-
found unSettlement and uncertainty of
the speculative mind.
The remarkable rise in Northwestern
grangerS was without explanation I'M
less It was the result of pure manipula-
ton to further profit-taking at other
points. The Chicago & North Western
stocks. st. Paul & Omaha and the ST.
Paul stocks were marked up in a short
period Of trading from 2A to Is points
st Paul relapsed as suddenly to below
Saturday and tluctuated at the last al
most as wildly as Louisville itself. The
money market was appreciabIy easier
as a result Of the stronger condition
Of the banks as revealed by the Saturday
statement But the extent to which out
standing credits are involved in the great
speculative operations going on in the
STOCK market is not entirely satisfactory
TO the conservative minds and was the
subject of much comment and some critl-
cism today,
Peace RumOrs Help Market.
Reports Of rains in the winter wheat
belt were productive of some buying of
stocks and reports were current of a
heavy merchandise movement in Western
railroads in spite of the shrunken proper
u0nS OF the grain movement Missouri
Paclhc dld not serve to cOrroborate this
view, the net earnings declining S36. 92S
Tor two months, compared with the cor
responding period Of last year.
Inc peace rumors from London helped
the carly strength in the market, although
the buying from that source seemed to
De IN the nature of reinVestInent of the
prCc1eds Of Louisville & Nashville stock
sold. The British budget statement came
too late for digestion and influence on
this market. Wide advances in Interna-
Ilonal Power, American Snuff. New York
DOCK preferred and Des Moines & Fort
Dodge were without special explanation.
:. Heavy realizing in the Central Of
Georgia income bonds made the bond
Market unsettled and irregular. Total
sales, par value, S. 9O5, 900.
united states Is advanced 1s and 3s
registered 4 and the old As coupon, u
on the last call. "a
Stocks.