The Washington times., 1902-04-04
Stock Market Gives Evi-
dence Of a Shifting
of Interests.
NO DEVELOPMENTS OF NOVELTY
Money Continues Easy With
Liberal Offerings of Time
Accommodation.
GOOD NEWS FROM FARMERS
Agricultural Advices Again Encouraging,
Particularly as to Winter Crop-For-
eign Condition Firm-LoIdon Eegh-
gible Factor.

NEW YORK, April 3.-Therc was evident
in tcday's market a decided shifting OF
interest from the quarters in which it
has recently been chiefly expressed into
the standard railway shares. 1t might
be more correct to say that the active
manipulation which has been conducted
in the market for some time was trans
ferred to the railway list
At all events the standard grade of
stocks furnished much larger quota of
the days total dealings than they have
done before in many weeks, and most of
the days extensive movements took place
in that direction.
Little Novelty Shown.
1t is, perhaps. hardly necessary 10 say
that there were no developments CT nov
city which could be cited in connection
with the revival of interest in such
stocks as Chicago and Northwestern. Illi-
nois Central and the Vanderbilt stocks,
or St Paul, yet advances of / point and
over were recorded in these shares be-
fore midday.
The advances in Northwestern common
and preferred were particularly extern
stve. Aside. however, from the cxpecta-
uons that the dividend on the preferred
STOCK would soon be established on the
~ per cent basis to which that issue is
entitled, there was nothing to be cited in
connection with the notable rise scored
AS bearing upon this question however
IL is to be noted that before the dividend
on northwestern preferred can be ad-
: Fanced to 10 per cent the dividend on
the common must be raised to Z per cent
ne last named received only 3 per cent
at the last declaration
The rise in the Northwestern stocks,
however, was followed by unusually heavy
dealings in ST. Paul and subsequently, in
the Vanderbilt group.
Stocks Rose Sharply.
New York Central. Cleveland. Cincin-
natl, Chicago and St. Louis, Canada
Southern, and the Nickel Plate sto ks all
rose sharply on comparatively light deal
ings. Other extensive advances were in
the st. Louis and San Francisco stocks
Chicago, Indianapolis and Louisville and
Ecoking Valley shares. Especial strength
OF the last named was again accom-
PANIED by reports that plans were matur-
ing looking to the retirement of the pre-
ferred stock. The various railway spe-
cialties, which have been recently so
paratively neglected. The local transpor-
tation stocks were also very dull.
The days general situation showed &c
important changes in its essential fea-
trres. The adyices respecting the agri-
cultural situation were again encourag-
ing, particularly as regarded the winter
wheat crop.
Money Market Easy.
The money market continued easy. with
very liberal offerings of time accommoda-
tion. Notwithsta ndipg the Treasury dis
bursement OF April interest the banks
have lost in their operations with the
Sub-Treasury since last Friday nearly 81
500, Goo an amount which can hardly be
offset by the weeks receipts of currency
from the interior, or counterbalanced in
Saturdays bank statement by reduction
In the loan account.
The foreign exchange market was again
firm, but furnished no Indications of i'm
mediate expectations of gold. London
was again negligible factor in the deal
inry