The age-herald. [volume] (Birmingham, Ala.) 1897-1902, 1902-04-15
FEVERISH AND
EXCITING CLOSE
DAY Was Made Up of Varying
Sentiments
MANY SPASM0OlC RALLIES
Much Attention Given to the L. & NJ.
Situation and the Disposition
To Be Made of Its
Control.
MANY SPASMOOlC RALLIES

New York, April 1A-There was fever
ish and exciting close In todays stock
market after day of varying sentiments
The early strength was not maintained in
spite of wide advances In few stocks
and the course was gradually downward
until the late dealings after the sagging
tendency under the stimulus of the ex-
traordinary advances in some of the gran
gers and northwestern. But the percep-
ton of realizing under cover of this
strength and the sensational advance to
1873 in Louisville and Nashville, unset
tied sentiment again and led to the gen.
eral unloading in the final dealings. There
was some feverish and spasmodic rallies,
but the market closed feyerish and ir-
regular with a weak undertone. Much
attention and surmise 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 its long time holders.
Some hope is entertained that a COM
munity of interest among the Southern
truck 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 speculative
profits. 1t is potent that great financial
and railroad interests are now striving to
readjust the situation from the stand
point of railroad policy, which neces-
states a settlement to the satisfaction of
the interest which has secured the control
almost by chance. The action of the
ipd 70 do
finite prospect of settlement, the feverish
flight of the stock indicating rather pro-
found unsettlement and uncertainty of
the speculative mind. The remarkable
rise in Northwestern grangers was with
out explanation, unless it was the re-
suit of pure manipulation to further pro-
MT taking at other points.
The Chicago Northwestern stocks, St
Paul and Omaha and the st. Paul stocks
We're marked up in a short period of trad
Ing from 2A to 10 points. st. Paul re-
lapsed as suddenly to below Saturday and
infatuated at the last almost as widely as
Louisville and Nashville itself. The
money market was appreciably easier as
result of the stronger condition of the
banks 6s5 revealed by Saturdays state
ment, but to the extent to which out
standing credits are involved in the great
speculative operations going on in the
stock market is not entirely satisfactory
to the conservative minds, and was the
subject of much comment and some criti-
cism today. Reports of rain in the winter
wheat belt were productive of some buy
ing of stocks and reports were received
of a heavy merchandise movement on
western roads in spite of the shrunken
proportions of the grain movement. The
February statement of Missouri Pacific
did not serve to corroborate this view,
the net earnings for the month declining
1886, 926 and for two months $95S, 226, COM
pared with the corresponding period last
year. The peace rumors from London
helped the early strength in the market,
although the buying from that source
seemed to be in the nature of reinvest-
ment in the proceeds of the Louisville
and Nashville stock sold. The British
budget statement came too late for di-
gestion and influence on this market
Wide advances in international Power,
American Snuff, New York Dock pre-
ferred and Des Moines and Fort Dodge
were without special explanation.
Heavy realizing in the Central of Geor-
gia income bonds made the bond market
unsettled and irregular.
Total sales, par value, S. 900. United
states Is advanced "a, the IS registered a
and the old As coupon a on the last CALL
New York Stock Market.
Nv private Wire 10 Murphy a. CM