The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-04-04
.HeavySelling Movement Over.
reached the Mark.
RE- ovERY WAS GENERAL i \ | \ \ 4:
There Was q Lively Rally and Prices Rose
Above level Of Day 6efore--Fur-
Their f7elefin Money Mar
ket Anticipated.
1 ny Associated Press. )

"a NEW Y DIRK, April 8. There was an
Dther heavy: selling movement In tho sto tao
market this morning, which apparently
Overrsached the market, Judging BY the
+ scramble Of shorts to cover during the
last hour when tho supply OF stocks had
become scarce. This led to lively rally
and general recovery to above Il last \.
( nights level. The rally and the salts
faction OF tho moro urgent demand fol-
lowed and as result the closing was
easy, and below the top level on the rally.
The apprecia BILE rcalizatlo OF the tension
& In the money market and the confioenco
& that the factors at work would bring
Dtill further relief next week were tho
dominant influences In the rally.
The morning selling was primarily due
10 the bad influence OF violent break
In Southern Pacific to s. IA, which
aroused fears for the position Of the pool
a&rhe apparently endless stream Of ltdui.
Mlation In Pennsylvania was also turned
Into The market afresh, carrying the price
TO new. low level on the movement at
125. @ The Friday requirements In the
4 money market kept up the money rate
early In tile day and there were prices
70 warrant the assumption that banks
were assuming an admonltory attitude to-
wards the speculative pools in way
which might account for some OF the
selling. The extreme which has been
Il reached in the personal IantipIthies grow-
! ing out OF the Southern Pacific quarrel
gives color to the superstition that tho
4 weap ons1 employed extend to tho lntlu-
enclng OF tho supply OF financial sr re-
sources employed by the pool in the stock
market. That the fact that tho Southern
Pacific books closed tonight for tho
annual meeting, points to the end OF the
struggle for representation at that meet
!? Ing. 8 The stock Is likely to be affect.
ed as CONSEQUENCE. It's movement boz
came very feverish In the late deal
Y ings during the rally in the market and
In It's rise to 60 ia there were several
4 wide changes. Si #$a7t 3
4 4 IA rumor found current at the same
q time that prominent finanoiers whose
4 services have been called on to set
q lie moro than the threatened financial
4 contest have been induced to adjust the
differences among the sou thern acaflc
Il Shareholders The relapse In the stock
4 indicated the skepticism with which this
I rumor was received. n sS
Another feature was Brooklyn Tran
ut, which was lifted : 3-s over last night
The weakness OF Sugar was attributed
TO unsatisfac tory trade cond ltions.
Bonds steada. total sales. par value.
Il y $40. ooo.I IA Y. }$ ,ljs
Total sales OF stocks wsre u, 400 shares.
4 MONEY AND ExCHAFGE-CLO1E
Money on call. firm. but closed easy at
y Sdn per- cent. !, closing 6Gp6 time money.
nominal: sixty days, s l44Dt i =; ninety
4 days, 1-4G5 IL: six months, s 1-49S IA;
prime mercantile paper, 5 1926; ster-
ling exchange. easy. with actual busi-
ness In bankers' bills at 14.96.aO for de-
v mand and at n. 3.75G14.sa 80 for sixty day
bills; posted rates. 1874 1-294.ss; COM
5 merclal bills, s4.s394.s3 IL; bar silver.
regular, 81. ssss S A. IN X WITS