The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1902-04-24
STOCK MARKET
IS GROWING DULL
Transfers Reach Large Sum
But Less Than Monday.
UNDERGONE VERY DULL
Prices Were Successfully Turned Up
wards During Extensive Grain
Dealing, the Carriers Sharing
Fully In the Advance.
UNDERGONE VERY DULL

New York, April 2S.-Today's transfers
Of stock again reached an aggregate OF
over one million shares, but the anirna-
ton of the speculation is decidedly de-
Perforated from the nearly two million
share business of Monday. There was
great variety in the dealings today, put
the undertone of the market was decided
ly heavy all day and the advance In some
portions of the list were insufficient to
clear up the tone. The weather news
from the western grain regions was the
central topic of discussion. Prices were
successfully turned upwards during the
dealings, the grain carriers sharing 1uliy
In the advance. N the case OF Atcnlson
the opening rise was IL, but half an
hour later, when trading began in the
grain market, with prices strongly ao-
vancing, these stocks gave way. The gov
eminent weather map was sufficient evil
dence that yesterdays hopeful estimates
of sufficient rain to undo any damage
already done were not well founded. The
strong rise in the corn market also helpeo
to depress stocks, notwithstanding the I'M
likelihood of any accurate knowledge at
this time of the chances of the corn crop.
But the evidence at hand from day TO day
of the far-reaching effect OF last year s
corn shortage is so impressive that the
speculative mind will evidently be very
sensitive to the prospect OF the coming
crop If that staple.
There was a renewal of the recent ac-
tive demand for the coalers, the Readings
again taking the lead on the supposition
that the settlement of the wage dispute
Is imminent When, however, 1t was per-
ceived that the strength in this sectlon
of the market had little effect In checking
the dribbling of Western railroad STOCKS,
the movement of the coalers ceased, and
prices reacted again. Efforts were made
on behalf of the large speculative leaders
TO convey the impression that tne sharp
reaction in prices has been conniveo at
and furthered by manipulation with the
purpose of shaking off weak speculative
followers in preparation Tor reneMeu
and stronger upward movement. Inc
market in fact showed the stronger tech
meal position resulting from the liquida-
lion of the weaker class of lightly margin
ed accounts. The pressure TO sell was
much less urgent and the fall In prices
not so conspicuous, but the doWn"aro
tendency was apparent on all sloes.
The provision to be made for the great
steamshtp merger, the coming stock con-
version by the United States Steel Cor
poration. the provision for the purchase
of the Louisville and Nashville ana tne
subscription to the Pennsylvania pono
issue for $4,000 900 indicate some OF the
heavy requirements upon the present mar
rowed resources of the money market.
An incident of the day was a sharp
rally in sugar of Az on the expression OIL
confidence from Washington that an
agreement would be reached on the CUBAN
reciprocity bill. The stock closed with
a net gain of 3A Amalgamated copper
tennessee Coal, the Cotton Oil and VIZ
riria- Chemical stocks, international oii-
Yer offered and a number of minor spec
Ialties were strong. There was strength
also among a number of minor raiiroau
stocks on the ground of their strong
strategic position. The Wisconsin Cen
tral. the Toledo, st. Louis and western
md the Detroit Southern stocks were IN
his class. The market closed heavy.
consolidated Tobacco As were strong
ond active. otherwise the bond market
was irregular Total sales, par Vaiue,
"a 100000. United States bonds were all
Unchanged on the last call.
New York Stock Market.
Nv Private Wire to Murphy q ca