The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-23
BEARS DAY IN MAIN
Stock Market Has Appearance
of Being Tired, as Brokers
Express 1t
MERGER SUIT NO WORRY
Action of the Reading in the End
and Late Rally in Wheat Re-
ayyakeRs Anxiety and
Aids the Bulls.
MERGER SUIT NO WORRY

NEW YORK, April 22-Today's stock
market had the appearance CT being tired,
in the language of the brokers. a gal
liant rally was made against the depfes-
sion and the sympathetic influence of
rather aggressive strength developed in
some of the Eastern railroad stocks had
the effect OF checking the selling in the
Western field, so that the losses were at
one time pretty generally recovered. But
| the action Of Reading strongly indicated a
elimination of the upward movement In
that stock and the taking of Specula-
tive profits and an afternoon rally i'll
the wheat market reaWakened the anx-
iety felt for the winter wheat crop.
The Western railroad stocks fell away
to the lowest Of the day, and the gains
which had been established elsewhere
among important railroad stocks melted
away. The market closed active ana
weak and generally at the lowest 4
violent break in Sugar to 1929, after sell
ing UP to 121%, was a contributing cause
TO the late weakness, and was attributed
to the growing apprehension that the diff
ferential duty on sugar will be removed
or the Cuban reciprocity bill will fail
There were the usual violent and erratie
movements in a number of specialties
which have come to be regular feature
OF the daily stock market.
Crop Reports Aid Stocks.
The upward fight of Nashville, Chatta-
ncoSa q st. Louis was due to reports
subsequently denied that the stock would
be changed for Louisville & Nashville
RunlorS were revived Of a consolidation
OF American Cotton Oil and Virginia.
International Power, American Grass
Irvine. Wells-Fargo, New York. New
Haven d Hartford, Long Island, the
KeOkuk & Des Moines stocks and otbars
We're unexplained
The early recovery in the market was
simulated by reports of showers in the
winter wheat belt, but the grain-carry-
ing roads showed a nervous tone through
out and the real inf inf
the market was the buying OF the coal
ers, both herd and soft and the Nor
gan railroads The evidence of CALLING
IN Reading left the market vlIlnera HE
again to the influence Of a rally in thn
wheat market, although that was said IL
be nartly due to the heavy decrease d1r-
ing the week in the visible supply of
Speculative opinion is resigned to thu
nope OF only an average winter Whear
crop, under promising conditions. and is
r. - ops'. Gu 70 expect a crop disaster in
the event OF unfavorable conditions
Available Wheat Supply.
a reassuring effect was produced by in
olherence expressed by the PRINCIPALS in
the Northern Securities cOnlpanv IN thn
ming OF the suit in the supreme coIrr
against the company on the ground thar
me SonSoIdated ownership of the prop
etueS IS SAFE IN any event. since ONLY the
nethod OF holding them is aimed at nv
ne SUIT. But any decision which wonId
aeIeat the purchase of the constituent
companies by the exchange of their
stock for the stock of the new companv
would nave far-reaching consequences On
n WJaI projects under way and to which
wan street looks for great results. Lon
qon turned seller of stocks in this MAJ
ket To-Day, after having been a buyer for
several Gays, and thus helped 70 srrengtn-
eit me Iorelgn exchange market
market generally was Irregular. ToTa[
sales. par value. S., 345. 600 Aot1'i
United States. Is advanced Il per cent
on the last call 20 POI cent
Stocks.