Show I PRICES WENT OFF i I AT ATTHE THE OPENING Shorts Were Covering in Wall Street StreetS StreetY S Yesterday Y FEELING OF UNEASINESS MILWAUKEE DEFALCATION HURT THE MARKET New York York April 24 iA A break in iii the tIle price of or stocks seemed a foregone conclusion The promise of such su h a movement was so clear dear that professional operators sold enough stocks during the first filst hour to more than cover the requirements dud and they the devoted d voted a aliO period liO of the day to covering their short shori contracts with the tile result of practically repairing the th losses lusses It was evident that bargain hunters veit ere also ala on han hant and their willingness to take tak at the break was a material factor in rallying ran ing the market mark t The 1 sit situation situation situation pointed conclusively ively to t consid considerable 1 erable liquidation today The rhe nevy i i decline of Thursday last since which i time trading on the exchange has hus been 1 i l I a great i U jm lIV eal as al I for fot ma 1 margins m on TI tl brokers i I and houses Many Selling Orders It was ivas know known a before the time mark opened that these calls had brought back baek k many man responses orderIng the thi sell seU lag ing out of holdings Speculative ment mont had hid been so far Car shaken by last weeks development that no ao tive ve support was to be anticipated unless at considerable ont dera ble concessions in hi prices he events of wheat market forced the conclusion that attempt to corner the May option had hud u f ii abandoned and the obvious conclusion that heavy speculative losses had bad be beau n sustained pointed to further liquidation in stocks HO ks as a recuperative measure Jre The pressure pr ure centered upon the stocks i which hi h have been favorites in the sac sim simulation t on account of the tile merger stor stories lea ies l s Union Pacific leading the railroad i list in point of activity and weakness 5 Northern reentry in the time mar market market market ket was Avas the signal for or sales down to 16 compared with the recently prevail prevailing I jug inK nominal price of ISO bid hid Danger Ahead The Thc prevailing discussion in the Ule market circles cirdes was of the Ule danger gf f re reopening r reopening opening of hostilities and of competitive comp I I projects in III the railroad world hi in rn I contrast to the recent abiding faith in inthe inthe i the mutual determination of all the I great powers of the railroad world to come together and put into force fore projects projects for the common been fit Thurs Thursdays Thursdays Thursdays days flurry in the call cuU money market marketto to 7 per cent had served ser ed to overthrow i the conviction that the ease ea of or the tile mon inOR money ey e market was incapable of being dis die disturbed disturbed The bank statement published on Saturday during the interval of the Hie trading showed that loans had contin continued continued tied to expand in spite of the liquida liquidation t tUon tion Uon in stocks The offering today of of New York City honda bonds Jon s made heavy requirements rt ments on the money mon market Next month the M 0 Pennsylvania hania bond subscription sUb an in installment installment of all but 10 per cent of the Japanese loan and the withdrawal of f fan an installment of government gold de deposits deposits posits are to be provided pro Id ed The inability its ity of or the money market t to meet m ct all mill these requirements is decidedly less Ics than the period of advance in prices of stocks Feeling of Uneasiness The news of the tile Milwaukee e bank batik de defalcation defalcation caused d inevitable unsettlement again and gave force to the Hie feeling of uneasiness to the effect of losses in the wheat collapse The in prices I carried Union Pacific Pa to the lowest of the day and made a broad inroad on the tile recovery recover which h had been established established Ii hed during the middle portion of the day and made the closing weak The Th remarkable rise in the Louisville Loui ille Nashville group attracted attention to totis the published l reports of plans for the formation of a great trunk line from fren north to south by a combination of ex existing e properties Those stocks re ye relapsed lapsed equally with the rest t Of f the time market in the late reaction Great Nor Northern NOrthern thern thorn preferred late in the tile day sold at ata ata ata a decline of 29 points from last week which may ma have helped to the late re reaction reaction reaction action Bonds were irregular Total safes sales S par value 3 United States bonds were unchanged un hanged on call cull |