The times. [volume] (Richmond, Va.) 1890-1903, 1902-04-11
TRADERS FEARED
ANOTHER CORNER.
Violent Rise in Louisville and
Nashville Caused Tremor.
FURRY in MONEY MARKET
This Caused Selling Movement, and
Some Stocks Fell OFF,. & N.
and Southern, However,
Continued Firm.
FURRY IN MONEY MARKET
Crr Associated rress.o

Er ASS1ClalcU 1stss..'
NEW YORK, April lc.--lheEe Nss a
very Wild market for l.ouisSliic ai l -. 49,.
XIII to-day. and the onIinous Jumps i..S'ue
by the price in It's conclusive aaNat,es -
10 this morning aroused unpleasant inet,i-
ories of May 9tl!. last year, Mii !,;Ss me
e:.n Pacific was cornered. p!cclpltai.iih sts
scvercst panic III The history oil tiie ot .,.
Exchange. Many OF the active opsIa, ,ss
in Louisville and NashNiic on .Hs AZ;
hayc fostcred tho SupppSltloil INA. Il diss.
tresscd short interest .r2 Was d,i 10 buy
stocks was suddenly cooled ana q pTcnSt-
cncc for the selling SIDE developer. me
disposition TO sell was incrcaseu by III
other furry liz the money inarket u.Ilia1
the afternoon and the selling movement
kpread throughout the list carrying prices
OF the active stocks very gencraiiE PC
tween and . points under last night.
Stocks which had been kept for strength.
notably Southern Railway and Alssouii
Pacific did not escape damage TO TINS eN-
teGt: in some cases the losses coilSiuSiiipis
exceed those limits.
Louisville alone, OF the prominent stockS
continued to show feVerISh strength, re-
bounding from each successive reaction.
There was some covering by professional
shorts before the close. but the seinns
was actively renewed and the closing Was
irregular and not far from the lowest Inc
action of Louisville seemed 10 1nd1ca'e
that a short interest in the stock was
feeling considerable distress to maintain
its position. The Wall Street snppositlon
is plausible that the disposition of inc
slo6o.O0O new stock authorized involved a
short position III the market tech!icaliS
,ccessitHting the borrowing OF the STOCK
sold until the Stock Exchange authoIl-
ties admit the new stock TO the list. re
ports of buying for control by cornpetnlS
companies or OF intended consultations.
have all met with official dcnials AS
tactical speculative measure Tor 1nciunS
speculation elsewhere in the market. the
wild movement in LOUISVILLE is Demon
STRATEGY "A. failure.
During the first hour to-day over one
quarter of the total capital stock OF the
company changed hands. and dealings Tor
the day amounted to half the capitalize :.
ton Within three days the number OF
shares sold has been many thousand III
excess of the total capitalization OF the
ter of the movement is. therefore, clear.
Tho dealings in Southern Railway con-
1inued Very large to-day. but 1t made no
great progress upwards and shared IN tho
late reaction. The rise in Missouri Paci-
fic was ascribed TO pool operations. based
ION the evident working out of extensions
dition Of the money market was cmpha-
sized by to-dayS announcements Of. a
huge combination in the hardware trade.
the undertaking by American capitaf.to
the purchase by New York capitalists of
the Choctaw. Oklahoma and Gulf Railway
and other syndicate requirements.
The bond market yielded to weakness
in stocks and became irregular after
notable strength in the recent active spec
nlatire issues. Total sales, par value,
si.975.0eo United States 50 advanced X
per cent on the last call
The total sales of stocks for the day
we're 100000 shares.
MONEY AND OBSERVATION-DISCLOSURES on cal,
3esca firm Z. - =. pap, cont closing offered
4,s Ter cent. prime mercantile paper, 4}sm :
Icr cont. Sterling exchange easy with actual
business in bankers bills ut sa.s7Hs FOR demand
md S4.sS@as5k for sixty days: posted rates.
4.S5l.. Bar silver. 5334 Mexican dollars. Al.
Government bonds. firm; State bonds, inactive;