The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1907-04-23
The MARKETS

New York, April 22.--lt was quite
evident today in the financial district
that sentiment regarding stock mar
ket values had undergone over Sunday
a decided change In the direction of
optimism. Signs we're not lacking
throughout last week that a leaven
of this kind was working and these
became very plainly displayed on
Saturday were in the face OF very
bad bank statement prices of stocks
did not decline as might have been
logically expected but on the con-
trary advanced. The efforts of few
spectators for the decline on that
day to retire their contracts as they
ordinarily do at the end OF the
week disclosed the fact that stocks
were not offering freely and that the
market was seemingly rather thor
oughly sold out. There was today
universal desire, both on the part of
the short interest In the market TO
protect itself and ON the part of the
other Spectators TO buy stocks for
rise. A generally improved tone
was visible on all the foreign ex-
changes. There was no distinctly un-
favorable influence of any kind in
sight and the prevailing impression
appeared to be in Wall street that
such arguments as had been more or
less forcibly used against the market
in the recent past had grown stale.
There was no particular feature OF
trading today other than Of the con-
tinued surging of broad upward
movement In prices The principal
stocks, following the lead of Lon
don, advanced a point or more at
the opening of the stock exchange
session. and went on advancing
times when the market became dull |
and prices receded slighuy, but on
each of these occasion the buying |
was renewed and the market closed |
buoyant, and in a way excited. at
the highest prices, net gains OF from
one to four points being common In
the active stocks, No doubt much the |
larger share OF the buying OF stocks
came from the floor OF the exchange |
itself and was due to the retirement
Of short contracts or to the opera
tons of professional traders. Accord
Ing TO all accounts, however, a great
or number OF commission house or
ders were executed in the market than
were for any day considerable time
past.
While news from the western grain |
fields was rather mixed today, com
prlsing on the one hand dispatches
from various crop experts tnat winter
wheat was irretrievably ruined in
certain sections, and the green bug
and the harmful effects OF the
drought were still generally militat-
Ing against an abundant harvest OF
the grain. and on the other hand
from equally competent
authorities that the snowfall at the
end of lsst week had helped the
crop immensely by killing the In
sects In the grain fields and by af-
fording a great deal OF moisture, the
general feeling on the produce ex-
changes seemed TO be that, the en-
tire situation had been painted too
black, and that considering the large
reserves OF wheat in farmers hands,
he price of grain was sufficiently high
'or the time being. 1t must be said
hat there are many persons conver-
'ant with agricultural conditions who
maintain that some diminution OF the
wheat crop this year will be for the
pest interests not only for the farm.
'rs, but of the entire community.