The times. [volume] (Richmond, Va.) 1890-1903, 1902-04-18
Southern Fell emparativsly Into
the Background.
WEST CONTROLS THE MARKET
Were Able TO Maintain Strength and AMI
nation Despite Reactionary Ten.
dency of Southern Railway
and Unfavorable Factors.

nv Associated Press,

NEW YORK. April 1e.-SoutneIn ,isa ~
way fell comparatively lh.o . nng down
in the list of active stocks, me a,, s aal
Nas under pressure of reaiizlaS aii Luass,
although It made some r rec sne SaS Of the
absolute control exercised oyer i.la ny q
and Nashville by J. +. Morgan; l II,e
somemhnt eqnyeSe asn te e1nsn 70 Inc pubic
regarding the settlement OF 5he Lou,s.
vile dispute and the emphatic disclaimers
by Southern Railway onicsalss 81 o. t ns s .I
tlement. had left room for all sorts OF
ruulors of possible further complications
which II was thonGnh aes,aanle a IIIa e1so
rallied strongly to 3ss oyer last nignL ai, e
the statement appeared. 1t was regarded
as STRIKING demonstration , ol hne heh
has been obtained by the group OF west
ern nillionaires now the leaders OF the
market, that they should have been abe !!
to keep up the show OF the strength in
the market In face OF reactionary tend
ency in Southern Railway and a number
OF other unfavorable factors. AS ~ mat
ter Of fact extreme animation and a
broadening show Of strength were the
features OF the market, bearing every re-
semblance TO previous great bull markets.
The irregularty due to active pront-taA-
ing going on side by side with new buying
was also in evidence, marKing the diver
sion Of speculative profits from ns:yroup
Of stocks into another The Coaiers were
the most conspicuously strong stocks To-
day. led by Reading, which was dealt IN
on an enormous scale, even after allow
ing for the reckoning In half SHARES OF
par value Of 80.
Reports were circulated that a. secret
agreement had been reached averting the
possibility OF a coal miners, strike Heavy
buying orders for the Readings and Fries
came from London, and the impression
was conveyed that these were due to
ers all suffered from profit-taking toward
the last, and the leadership Of the market
was shifted to Atchiscn. which rose sud-
Louisville. The explanation of the buy
ing Of Atchison Was not forthcoming, but
the stock has not shared in the recent
s ri fna
affected by realizing to-day. Intertwined
with these dominant movements were
some declining. but ali due to some indi-
yidual causes or to operations by specula-
tive pool The rather decided action OF
over the weather conditions for the crops
was quite ignored in the trading.
The reduction Of the Arnalgamated Cop
per dividend. which has been looked for
time. was totally ignored, and that stock
itself was run up after tho announcement
last night after having fallen 1X The
stock closed with fractional net loss.
United States Steel stocks We're moved
Evidenees Of recuperation in the pe ioeai
money market were conserving influence
en- the speculation. The market closed
active and irregular.
-BoQS-sA4a, - guite- active and Irregular
Total sales par value, S., $50. O00 United
States old 4s coupon advanced 1h per cent
The total sales Of stocks for the day
were /, 40S, 600 shares.
MONEY AND ExcHANGE-sioney on co,l
closed steady at 3h@5h per cent; closing bid
and asked 81 per cent; prime mercantile
paper. 4H@6M per cent. Sterling exchange
steady with actual business in bankers hills
at S4.S7M for demand and at s4.s5IA for sixty
days; posted rates. S4.s6 and S4.SsII; CONNER.
rial bills. S4S4H al ssh. Bar silver b2I .
Mexican dollars. 42h. Government bonds. dr,
reEuIari State bonds. firm; railroad bonds, ir-