The times. [volume] (Richmond, Va.) 1890-1903, 1902-04-25
Prices Wavered on Publication Of
Unfavorab'c Weather Map.
THEY PICKED UP AGAIN LATER.
Weakness in Grain Market Was Occa-
sion for Strength in S,ocks-Money
Continued Easy Bonds
Active and Strong.

e.y Associated rress.>

NEW YORK, April 24.-i1e important
influence of the grain crop prospect upon '',
The stock market WAC again denloIsti at '
to-day. After u strong opening, Piiees
wayered aud commenced 10 go pach WIFI
the weather map was published, showing
almost no rain precipitation cast Oh INC
Rocky Mountains. but whcn the "iteae
markets opencd and revealed an acuse
liquidation at declining prices siochs
promptly began TO PICK up AGAIN. iiie
persistent saesing of tho price sol wheat
was accompanied by growing ana broad
ching strength IN stocks. With the notable
demand fentercd on the grain carrying
railroads Reports from the grain mar
bets attributed The weakness there en-
. 1ircly to realizing of profits On ofer-eH-
tended long accounts, as no news was
Forthcoming TO indicate better condition
in the crop Naturally, the covering de-
uaDd from the short interests IN stocks
which has accumulated on the week de-
cline. also played a considerable part III
The speculative movement. but the day s
events are a striking evidence of the IN
innate association a present between
the grain markets and the securities mar
ket. The quick response between the
Two emphasized the general conviction
that tho present strong leadership in The
stock market is held by persons Of long
experience in grain speculation and heaE-
lily committed in the current grain deal,
conioined to help the recovery IN stocks
The annual report OF Lake Shore Rail-
road WAS palpahic influence on all of
Tho Nanderbits and indirectly on the
whole railroad list. owing TO the cnor-
nous earning power revealed and Inc
prosperous traffic conditions. The dis
closure of the purchase by the Lake
Shore Of a large block OF Lehigh Valley
stock and admissions on the part of the
principal banking house Interested III the
Coalers that purchases of Reading were
being made by New York Central. Penn
sylvanja and the Gouids. was taken as
confederation Of the extensive community
OF interest being established in the whole
coal transportation industry. New York
Central recovered strongly 2a4 from its re-
\ cent depression. Lake Shore itself and
floating supply outside the New York
Central treasury, rose j and 1919, reEpcc-
tiveiY. Oh Il very liGh: demand. United
STATES Steel stocks shared in the strength
of the market for the first time in many
weeks. rising liz each. owing to the very
active conditions in the trade.
Attention was attracted to-day 10 the
enormous expansion Of the planting In
progress. which is said will add at least
$1,000 tons daily TO the production OF pig
Iron. The specialties. including the more
important Industries. all shared in the
strength of the market.
Money continued easy with evidence Of
reciperaton in the banking reserves
Sterling exchange continues firm. but is
still short of the gold export point The
easy condition IN tho money market is a
material factor in fostering the specula-
ton.
Tho bond market was quite active and
strong. Total sales. par value. S. ST. 900
United States bonds were AL unbalanced
on the last call
The total sales of stocks for the day
We're l,aG5,o6o shares.