Daily press. [volume] (Newport News, Va.) 1896-current, 1910-04-27
Temperament in Stock SpeCu-
IatiOn is Nervous.
BEARS ARE DISAPPOINTED
First Demands Simply for Profit TAX
ing In the Hope Of Finding In
creased Offerings as Result Of
Alarming Crop Damage Reports.
(By Associated Press.)

NEW YORK, April ga nervous
temperament in the speculation Is in
dicated by the sudden and violent
shift in the price movement which
stocks are undergoing. The severe
declines which occurred on Monday
was almost entirely recovered In
convulsive advance at the opening 40
day. The demand from the bears was
Il first simple prOt-fltaking move
ment, apparently in the hope of ind
ng increased offerings Of stocks, as
A result of the alarming reports of
lamage to the cotton cr-p by the cold
waves. The offerings proved much
less than was anticipated and the VIC
tent effect on prices followed from
this cause
Quotations FIR cotton and grain,
when they were received, negatived
The idea of disastrous damage 10 the
crops such as had been implied and
the coverings movement by the bears
was then extended Aggressive buy
ing of United States Steel and re-
yiycd reports that the dividend was
% be Increased, helped on the re-
,ovcry with the assumption that i'm
portant inside interests were support
ing that stock.
The reassuring of effect on senti-
ment 4 the decline in cotton and
grain prices passed away to some eX-
tent with the publication of weather
forecasts Of the conditions and the
extent of the cold wave.
The addition of s2.OOO.OOO to the
engagement of geld for shipment 10
London tomorrow brought the total
for the week to Sl4.5OO,0OO. which
continues a record outgo for one week
With the single exception of the week
ending May 81. 1904. The strong tone
Of the foreign exchange market in
the face of these abundant remit
tances and of the reduction cf &c
schiliings. five pence per ounce in the
price paid by the Bank of England
for American eagles, compelled atten-
ton.
Preparations for the monthly set
Elements and the present unrest in
England were FACTORS in sustaining
the discount rate in the London mar
ket
Call loans were but trifle firmer,
but the gold outflow has resulted in
such formidable proportions as to
prove portentous to stock market
sentiment. The change from early
belief that the movement was ended
r. h. Of oh
nents was an element in the latter
formation of speculative sentiment
Its extreme unsettlement was ex-
smpied In still another and final COW
ering movement by the shorts as a
result Of which prices at the end were
midway between the high and low
prices.
The United States Steel dividend
and the quarterly statement publish
ed after the stock market closed.
threw no light on its action. Earnings
were less than the preliminary
guesses. but the untitled orders on
hand had not fallen to as low stage
as official intimstion had suggested
they might.
Bonds were easy. Total sales. par
value, sl.4S9.0 goo. United States bonds
IS registered advanced u per cent in
the bid price on call.
Total sales for the dsy were 703.-
800 shares. including: AmaIgamaicd
Copper. $500; American Smelling *
Refining. 3i.100: Tcbacco. 500: At
'antic Coast Line, 500; Chesapeake &
Ohio. 1900: Denver & Rio Grandc,
$4,000: Louisville & Nashvilley S.lJ0;
Norfolk a Western. $500: Reading
o7.6oo; Slcss Sheffield. loo: South
ern Railway. 5000: Southern Railway
pfd.. 1909: Union Pacific. 1890 ::