The daily morning journal and courier., 1902-04-15
AHA SHOCK M 4 KAEi.
A Feveri.h and Excited Close Yesterd


 New York, April 14.--There was fe-
 verish and excited close in to-days
 stock market after a day of varying
 sentiments. The earlier strength was
 not maintained, in spite of wide ad-
 vances of a few stocks and the course
 was gradually downwards until the late
 dealings, when there was general
 break all around. Prices had risen
 again after the sagging tendency under
 the stimulus of the extraordinary ad- l Vances in some of the grangers and NorthWesterns. But the perception of realizing under cover of this strength
 and the sensa tional advance to 133 in
 Louisville & Nashville unsettled senti-
 ment again and led to the general un-
 loading in the final dealings, There
 were some feverish and spasmodic ral-
 lies but the market closed feverish and
 irregular with a weak undertone. Much
 attention and surnlise were given to
 the Louisville and Nashville situation
 and the disposition to be made of it's
 control, which is now without dissent
 understood to have escaped it's long time holders. Some hope is entertained
 that community of interest amongst the Southern trunk lines will be worked
 out as a result of the new control,
 which seems to have been acquired without any large railroad policy in view, but simply for speculative profits. It is patent that great financial and railroad interests are now striving to readjust the situation from the stand point of railroad policy, which has se- cured the control almost by chance. The action of the stock to-day did not indicate any very definite prospect of settlement, the feverish flight of the stock indicating rather profound un- settlement and uncertainty of the spec ulative mnid The remarkable rise in Northwestern grangers was without eX- planation, unless it was the result of pure manipulation to further profit talk ing at other points. The Chicago Northwestern stocks, St. Paul and Omaha and the St Paul stocks were marked up in a short period of trading from 2 f-2 to 13 points. St. Paul re- lapsed as suddenly to below Saturday and fluctuated at the last almost as wildly as Louisville itself. The money market was appreciably easier as a re- suit of the stronger condition of the bansk as revealed by Saturdays state ment. But the extent to which out standing credits are involved in the great speculative operations going on in the stock market is not entirely satis- factory to the conservative mind and was the subject of much comment and some criticism to-day Reports of rains in the winter wheat belt were productive of some buying of stocks and reports were received of a very heavy merchandise movement on west ern railroads, in spite of the shTunken of the grain movement The | February statement of Missouri Pacific | did not serve to corroborate this view, | the net earnings for the month decin- | ing S436926 and for the two months | $95S, ,226 compared with the corresponds l ing period of last year, The peace ru- l mors from London helped the early | in the market although the buying from that source seemed to be in the nature of reinvestment of the | proceeds of Louisville and Nashville stock sold. The British budget state ment came too late for digestion and influence on this market. Wide ad- | vances in International Power, Ameri- ,an Snuff, New York Dock preferred md Des Moines and Fort Dodge were without special explanation.
 Heavy realizing in the Central of Georgia income bonds made the bond market unsettled and irregular Total ;aleS par value, S5 905 000
 United States twos advanced 1-S, the hrees registered IA and the old fours coupon IA on the last call