Show NEWS OF EASTERN STOCK I Call Money Rate late Causes Canses Heavy Pressure to Sell So 4 ALL ALj AINS S WERE W RE t LOST T c r 1 t SPECULATION AS TO THE TEE RU BU BUI I MOR D DEAL DEALt 4 t New York April U Speculative liquidation dation datlo was very cleary cleany at work again In tock stock market It was offset dur during lug ing the early part of the day by the Ag Aggressive strength shown rh fh wn by a handful of ot stocks The advance e In these was helped by violent manipulation but It il served to sustain the th rest crOt of ot the market in Inca face of heavy selling until the call c U money rate ran up again when the pressure to sell seU I became greater than the absorption power and the market turned weak Even ven the notably strong stocks lost all of their gains as a rule and the market closed dull and at about the he he lowest and anil at considerable let losses except in a avery ae af avery very few f Stocks The e arrival In London of the N v York financier who has bean been the moving spirit In Ia of the recent vast financial pro projects projects projects in this country count y aroused some ex ox expectation that the London market would reflect in his presence there thero and that action would be taken tal en on some of the projects which have lx been en supposed to be waiting on his counsel The rumored Burlington deal was the most important of these and the failure of official con confirmation o ot the very positive assertions which have been current that this trans transaction transaction transaction action was completed c had a good deal dl to Ia todo t do with the depression permeated the rho whole market as the day lay progressed It is evident from the persistence of dis disclaimers disclaimers disclaimers claimers ot the deal that an Important minority of the stockholders is still op opposed opposed opposed posed to it even If it be true that actual control has hs passed to the n in interests Interests Interests Tho The widespread belief in the pending consolidations of importance in the cop copper copper Copper per world made Amalgamated Copper very active and buoyant but here hero again the failure of expected official confirma confirmation tion lion aroused some oma feeling of distrust among the speculators who had most moat largely and with least Information and the cost co t the stock practically practically all of its 3 points rise The Chi Chicago Chicago cago cage Northwestern stocks continued their remarkable rise riOE tho the common ad aa advancing advancing 13 points and the me preferred d 11 points each of them showing 5 points ad advance adVanCe vance between sales les Denials from oHio official of fi cial sources of the tha rumored rU consolidation of r raed d with Chicago Minneapolis St Pi Omaha and with Union Pa eWe reaction In the stock ot of 7 VW re denials of the rumored n Gas Gus real estate II J of 4 point from the stOC stocks 5 rise The advance t f tIn ti 3 i In d J on oh rumors Tumors of ot buying fon ton l Pennsylvania Penns was more than lost lest c J I t ron roseAn extreme 34 and saved Jn ilg gain than tItan other stocks The Th States Steel stocks showed a notable r r from their early strength closing n t declines of a fraction to a point The Tho selling pressure was w s most marked m In Burlington and in Northern Pacific and it was only for a brief period that they were lifted at all aU o over last nights close The reaction In Burling Burlington ton reached el 3 5 and in Northern Pacific 2 The requirements of the and the demand domand from front the tho interior con continued continued tinned to make inroads on banking re reserves reserves serves erves and the refusal r by the secretary I of 01 the treasur treasury o offered of to him himat himat himat at the market the hope of ot relief roUet from that source The harden hardening hardenIng ing lag of the money mony rate in London also ais 1 causes apprehension of a renewal of pres pressure pressure sure for gold from that point the higher money rate here bere was sufficient to cause a yielding In the sterling ex cx exchange change rate today The weekly return f the Bank of Eng land shows that it has nas made heavy de demands mantis mands upon the open market for repay repa repayment meat ment mentor of loans and the tho coming needs of the money mone market mark t there promise that the outside market must resort to the tho Bank of England again which would make an advance in the rate effective in Influencing the private discount rate as well welt as the exchanges The bond market was moderately active I and yielded In sympathy with the late re reaction reaction reaction action in stocks Total sales par value United States old ds coupon advanced 14 i 4 per cent on the last call |