Show DEPRESSION IN II STOCK MARKET I Speculative Operators Are Much C Ch j f I at Sea SEESAW SEESAW IN WALL STREET ORDERS TO SELL FROM WEST WESTERN WESTERN WESTERN ERN SOURCES SOU New York April 12 l Movements lo ments of stocks continued to give b e evidence today of much uncertainty on the part of speculative operators ol The current news failed to account for any depres depression depression sion slon and conjecture pointed to various explanations of the palpable weight upon UDOn the market Signs of or consider considerable considerable able strength and of sharp weakness succeeded each otichi other all day Aggressive sive strength shown by a few stocks failed l to overcome the skeptical and Auspicious attitude of the trading Some Sante of these thee who sold stocks protested that saw saw evidence of sell selling selling sellIng ing for the account of some of the per persons perSons sons wh have huye been the most demon demonstrative demonstrative demonstrative leaders of the bull bun campaign Considerable liquidation was attributed to the account of orders received re from western sources and the conviction held reported measure of precaution precaution precaution tion and a strengthening position on the part of precaution and a strength strengthening strengthening strengthening ening position on the part of those committed to the speculative deal In wheat The rite wheat market was comparatively I quiet today but developments there are with keen attention from the stock market point of view owing to the identity of extensive speculation both in the wheat and the stock mar markets markets markets The rhe share taken by this interest in lit the bull campaign which has been conducted in stocks Is variously varIous esti estimated estimated mated and the extreme estimates cur current curren current rent ren t if they should justified would sufficiently explain the uncertain j I tons of the present market The Th sub substitution substitution substitution in the Northern Securities di dl directorate directorate for that of the head of the Union Pacific party was wan belittled on be behalf behalf behalf half of both sides to the old quarrel in that property Fears of an outbreak of this old quarrel were emphatically declared to be unjustified But the Wall VaU street view of this matter has gone considerably beyond a n mere quiet quietIng quietIng Ing lug of the old dispute and has adopted a view of thorough harmony and co cooperation cooperation cooperation operation in going forward to new projects of even larger scope than ever of the past vast There has been unquestionably spec speculation speculation in stocks based on this view liew and the rather curt manner maimer of yesterdays s action of the directors shakes the con confidence confidence confidence held In that supposition Definite lute nite news from the hostile fleets In the China seas was eagerly looked for and nd the possible outcome of the sea fight was a restraining influence on the securities market ing lag the discussion of the Northern N Se Securities Securities decision Union Pacific was firm to strong all day The other prin principal cipal points of strength were ln In the ln In Industrial inc list notably Smelting Amalga Amalgamated Amalgamated Amalgamated mated Copper and the Locomotive stocks The weakness of New York Central was a strong contrary influence and Illinois Central also suffered from front free free realizing on yesterdays wide ad advance adVance vance van The electric stocks suffered on rumors of or a rupture of a working w agree STee pent and anti of 01 the th expansion wf of com competition competition petition in Ill their field A sharp break l in Peoples P oples Gas wax was w s also an eff di in influence Influence fluence An enthusiastic en weekly re review review review view of the iron trade awakened a live He lively lively ly l demand for United States Steel pre preferred f rr d and an active c e absorption of Union Pacific at the same time carried the market upwards to a strong clos cbs closing ing Bonds were heavy hea Total sales par value United States bonds were all unchanged on call |