Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-04-14
STOCKS WERE
VERY FEvERISH.
Influential Support Given and
offerings Absorbed
CONFIDENCE WAS RESTORED
Earlier Unsettled Feeling Gave Way
TO More Cheerful yiew-Tben
Market Fell Into Dizziness.

New York, April ll--Reports by cable
that the higher prices for Americans IN
London had attracted selling for New
York account caused hesitation in the
opening dealings here. Trading was ac-
tive and IN large blocks with the majorl-
ty Of stocks showing fractional gains
which were partly yielded on secondary
quotations. The contest for control Of the
market by the bulls and bears factions
waged lercely for the FIRST half hour
with prices moving violently upwards and
downwards, Some leading stocks sold be-
low yesterdays low level notably Mis-
souri, Pacific, Wabash preferred, Texas x
Pacific ST. LotA & San Francisco and
Illinois Central. Opening advances were
all wiped out, Supporting orders met
every break, but enormous offerings had
TO DE absorbed, by iO;30 the market was
on the mend and at II o'clock advances
OF q point over last night had been es-
tablisAed In Pennsylvania. b. a o.. New
YORK Central, Reading, Union Pacific.
Northwestern, st. Louis a San Francisco
and Amalgamated Missouri Pacific re-
covered rs loss Lackawanna rose and
relapsed 3
on the curb Northern Securities opened
at 81, a recovery OF 24 from last night,
advanced to 97A and then relapsed to
y5H.
The determined support Of the market
put stop 10 the wholesale liquidation
The buying diminished al the higher level
but the hardening tendency continued.
During the second hour gains had reached
TO Va for ST. Paul, Atchison 81. Louis
southwestern preferred, Denver a. Rio
Grande preferred. Delaware Il Hudson,
Erie first preferred Sugar. Leather Cen
eral Electric, Consolidated Gas North
American and American Car 81. Louis a.
san Francisco rose 2h over last night
Bonds were Irregular.
The stock market was feverish and UNI
settled again this morning Influential
support however, was accorded at the
start today and the heavy offerings were
absorbed ana prices bid up determnedly
as often as they fell. This had the effect
OF restoring confidence and checking the
HOOD Of liquidation, The market was
much steadier in the second hour when
prices for leading active stocks were a
point or more over last night Northern
Securities on the curb opened at q, COM
pared with yesterdays last price Of 95ia
advanced 70 g,A and then relapsed to
sjli on light sales.
Buying proceeded with more confidence
during the noon hour and q number OF
gains decidedly The earlier unsettled
feelin ggaye way TO more cheerful view
as the rally met no later effective oppos.
tion. Room shorts reduced their lines.
The market fell into dulness and then
sold of good fraction when the demand
showed signs Of exhaustion. Stocks soon
met support from all quarters and prices
were rushed up again. Sugar. Amalga-
mated Copper Manhattan United States
Steel preferred ana some Of the eastern
trunk lines sold at the highest of the day.
Hooking Valley Preferred advanced 4,
with reaction Of 2A and Des Moines
4 Fort Dodge rallied 2. Smelling pre-
ferred gained ~.
MONEY AND BONDS.
Money on call steady at 5lk per cent.
Prime mercantile paper, 5hQ5A per
cent.
Sterling exchange steady. with actual
business in bankers bills al 4.S6. 50d4 $50. Is
for demand, and at i.SS.5QQ4 S3.15 for 70
days.
Posted rates. 4.S4ls and ASH.
Commercial bills, 1854. S3&
Mexican dollars, 1884.
Government bonds steady. RefundIng .
registered and coupon 1851, IS registered.
l0l&: IS coupon l0S24 new IS registered
1851; new Is coupon, 1854; old As regis
tered and coupon, MA; IS registered and
coupon, 1903
Bar silver. 49a,
SUGAR
Sugar-Raw firm. Fair refining, Si-le:
centrifugal, .s6 test Sla, m0lasses sugar,
2 1916 Refined steady. Crushed, 5.S5:
powdered, As; graduated AS.
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