The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-04-05
EARLY ACTIVITY IN STOCKS
RUSH OF BUYING ORDERS TO
OPEN THE MARKET
After the Bulge Prices Partially
Reacted, and During the Remain
der of the Day Business Was
Light-Net Gains of Point or
Two for Most of the Shares of
the Active List.


NEW YORK, April 4-The interest, and
the principal activity in the stock market
today were In the first hour. The bulge at
the opening was caused by the scramble to
execute all at once buying orders for several
thousand shares In each Of the leading stocks.
These orders were placed by frightened bears,
who saw warning in the very buoyant tone
assumed by American securities on foreign
exchanges and who had in mind the sad ex-
periences Of the shorts of last Monday.
After the execution OF this mass Of orders
at the opening, prices promptly sold off again.
than one-half of the advance had been wiped
out. Transactions for the remainder Of tho
day were small and fluctuations were narrow,
outside few special cases, and there was
little Of interest or importance in the stock
market.
Notwithstanding the later weakness, net
gains of from l to over 2 points were saved
for nearly all the active stocks.
The opening jump in prices was in sym
pathy with the buoyancy of Americans in
foreign exchanges, where the reported medi-
alton Of the pope between the United States
and Spain was viewed as Of the utmost i'm
portance. This Importance was enhanced by
the fact that the reports given out from
Spanish sources had it that the pope's media
ton was offered at the request Of the United
States.
Professional traders. who were after the
an allegation that President Mckinley had
determined to embody a recommendation
against war or forcible Intervention in Cuba
In his forthcoming message.
The early view, it was soon believed, had
exaggerated the possibilities of peace. The
official denial from Washington that the pope
had been accepted as a mediator between
the United States and Spain was potent in
dtspelling this view.
Notwithstanding reyisions of opinion, the
active measure taken by the pope was felt
to offer a possible means Of influencing Spain
to yield to the demands Of the United States
especially as the opinion of the Vatican, here
tofore reported, inclined favorably toward
the granting of Cuban independence. This
constituted the sustaining force which saved
the market from a full reaction from its
opening gains.
The bond market was dull, and after OPEN
Ing strong, prices eased off little but stif-
tened again before the close. U. S. new is
reg. advanced IN; do coupon, 1A the old
As reg, 1; do coup, and the 5s, H. and the
Is declined 1R per cent bid. Total sales were
LIPS 300.
Total sales of stocks today were $4,000
shares, including 1900 Atchison pfd, 1920
Burlington, 100000 L. & N, 16 230 Manhat-
tan, II ,376 Metropolitan, $500 Missouri Pacific
1900 New York Central. 10,715 Northern Pa
c1fc, 7,00 Northern Pacific preferred, II .O7O
Rock Island, AZ, 125 st. Paul, 32O28 Union
Pacific. 11,76O Tobacco, 400 Peoples Gas.
94,7S0 Sugar.
The following were the fluctuations of the
leading railway and Industrial shares fur
nished by G. H. F. Smith & Co., members
New York stock exchange and Chicago board
of trade: