The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-03-31
RAMPANT BUYING SPIRIT
FINAL LEVEL OF STOCK PRICES
CLOSE Al DAYS BEST.
Net Gains In the Railway List From
One to Three Points, With Still
Sharper Advances In Some of the
Speculative Specialties - Wall
Street Is Satisfied There Will Be
No War With Spain.

"
NEW YORK. March 30.-Today's transac-
lions in stocks might fairly be termed a
runaway bull market. The Overwhelming
conviction of all operators on Wall street
seemed to be that peaceful adjustment Of
the controversy with: Spain is probable. Any
OF the minor developments of the day which
seemed to contradict this assumption to
threaten the defeat Of this outcome were per-
sstently and confidently ignored.
There were reactions at times during the
day. but These, were evidently due merely
to realizing sales by those who were con-
tent to take large profit already assured.
These realizing sales were absorbed without
last nights close or even near 1t and the
market several times rallied to near the top
figures of the day under renewed buying.
level.
The days net gains in the railroad list
ranged from to points and in the special
ties gains Of over points in Sugar and
nearly Z points in Metropolitan Street Rail
way were scored. Some of the short stocks,
put out in Mondays bulge, were covered to-
day and perhaps helped in the advance mater
tally, but the leading influence in the mar
ket was rampant speculative buying move
ment.
London was credited with being a large
buyer here. but foreign exchange failed to
reflect the fact, the tone of exchange being
firm. This might be due to slightly easier
time money, which was no less significant Of
the prevailing confidence in peaceful out
come than the. strength In stocks Prices
the opening here, but cable reports said that
this was due to buying on New York orders.
Spanish government bonds also showed
strength in Paris and London, but this was
called reflection of the strength Of American
securities rather than the cause of it.
Early reports from Washington that SPAN
had agreed to free Cuba for $200, 00O COO IN
demnity, gave the first powerful upward i'm
petus to the market. The abstention of the
senate foreign relations committee from re-
porting any of the warlike resolutions in its
custody and the refusal of the house to
interrupt the progress of the presidents nego-
tiations with the Spanish government were
interpreted favorable factors. No account
was apparently taken of the implied sug-
gestion accompanying these actions that the
presidents demands upon Spain were suf-
fciently firm and fartreaching to meet the
objections of those who had threatened to
oppose him in congress.
The bond market was by no means as
active as stocks. But the tone was strong
and some notable gains in prices were scored.
Total sales, 81, 4Z5, 600. United States new As
coup advanced ~ and do reg, bid. There
were sales of the new As coup at l per cent
As coup at ~ over yesterdays bid price.
Total sales of stocks today were SCI GOO
shares, including: iS,465 Atchison, 56,342
Burlington, 1880 L. & N, 1855 Manhattan
1900 Metropolitan, $500 Reading pfd, 1900
Missouri Pacific, $500 Northern Pacific, 26,
070 do pfd, 49, 75 Rock Island, II, 116 st. Paul.
54,S20 Union Pacific 1920 Tobacco, 1890
Peoples Gas, 159, 512 Sugar and 1858 Western
Union.
The following were the fluctuations Of the
leading railway and industrial shares fur
nished by c. H. F. Smith & Co., members
New York stock exchange and Chicago board
Of trade: