The Washington times. (Washington [D.C.]) 1901-1902, 1902-04-24
COMMISSION HOUSES DOING WELL
Many Customers Disguised
Over Suspension of the
Bull Manipulation.
HAD LOOKED FOR PROFITS.
Interest In the Agricultural Outlook Con-
unues to 1rcrease-Money Remains
Easy-Banks Gain in Their Operations
With Subtreasury.

NEW, YORK, April 2s-The stock
market today continued on the retrograde
movement started on Monday. The move
ment was, however. by no means so con-
centrated as on Monday or Tuesday, and
the bulk of the selling seemed TO be by
commission houses whose customers had
become disguised at the suspension of the
Dull manipulation, upon which they ap-
parently counted for the realization of
profits.
There were occasional spurts of ANNA
uon, particularly in the anthracite coal
shares, but the fervor bred by these
movements did not extend to the remain
der Of the market
Sharp Grain Advance.
specifically such weakness as the
market showed was traceahle to the sharp
advance in the grain market, where both
wheat and corn rose sharply the tendency
there being accepted as verifying the
more pessimistio estimates OF the agricul-
tural outlook.
Regarded in another way, IL could be
said with equal truth that the market still
suffered from the exceedingly heavy pro-
fessional liquidation of Monday and Tues
day. which was added to today, as has
already been stated, by scattering licui-
daticn of commission bouses
There was. however. Furthermore. suf-
fciont reason to believe that the same
speculative captains who conducted last
weeks bull movement in the stock mar
ket in the face of the agricultural out
lock. as IL stood then. have diverted
their energies 10 the grain market, where
they arc Maging as aggressive Z bull cam
paign as they did last week in the mar
Eet for securities.
Bad News From Wheat Belt.
1t could not be said with trutA that
today's actual news from the winter
wheat belt put matters there il any worse
light than they have been heretofore; but
as was TO be expected. stock market Cos
sip was surcharEed with tales of disas-
ter to the winter wheat crop and Of ru-
mors of ruin to the corn crop.
Interest in the agricultural outlook
completely ovcrshadowed all other fea-
lures of the situation. The money market
continued easy. and sterling exchange was
shade firmer. Sterling in Paris, how
puts the question of gold shipments out
Of the reckoning for the time being.
The banks have gained in their opera
items with the subtreasury since Fri
Gay over s1,000,000 and continue to gain
currency from the interior. hence they
ought to be able TO show materially
strengthened position in Saturdays bank
statement, particularly rs last weeks re-
port did not show the full extent OF the |
fine In har ba1 do hot
time.
London Shows Higher
LONDON furnished a higher range OF |
prices for American stocks, but the deal |
ings here for foreign account were upon |
the smallest scale they have been in some /
days with purchases slightly predominant |
ing.
The weak features were Atchison, ST. |
Paul. Union Pacific. Southern Pacific and |
discussion the pressure upon St Paul was
generally referred to the agricultural !
outlook. IL is worthy OF note that Chica-
go and Northwestern, the lines of which |
occupy the same general territory as
those of the st. Paul, advanced sharply.
In fact as has been stated before the
L.
that phase of the agricultural situation
with which Wall Street is now absorbed, a
fact which attests to the actually techni-
cal character of the current reaction in
prices,
There was nothing particularly novel or
to which the comparative
:rcagth of the anthracite coal stocks
ro.ld be referred. Other firm features OF
the railway list were Louisville and Nash
lie, Southern Railway common, Chica-
20, Indianapolis and Louisville, and
.long the higher priced issues, New
.,oia. New Haven and Hartford.
Local Stocks Bid Up.
Tie local traction stocks were bid up
- ly in the early dealings, but lost
ne upon the development OF pro-
,ornced weakness in the RAILWAY list.
IN the Industrial quarter and among
he miscellaneous stocks. very irregular
/. uGcnciee prevailed. In the early deal
aes American Gotten Oil and Virginia
CAROLINA Chemical advanced sharply on
he seemingly premature reports that
he consolidation of these properties
las arranging.
Increased dividend distributions on
10Th stocks are virtually assured With ,
he course OF the year and account suf-
icicntly for their course. 4 much bet /
or comprehension of the real status OF
he Cuban tarin legislation at Washing
on snpcared 10 prevail. in consequence ! /
Of which Sugar Refining rallied sharply
rom lis depression of yesterday. Other
movements In this quarter I
we're International Power. Consolidated
- pp,pl1vn Union Gas and imalla- |