The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-03-29
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another Dny OF Furious Activity aud
Buoynnt R!s. af Pricrs

| Buoynnt Rise nj Pricrs
New York, March 2S-,Another day OF
furious activity and buoyant rise Of
prices marked the further progress of
the bull campaign in the stock market
The process of digesting profits by sell
ing out on the upward course was go
ms on all the time and caused an an
peafance of some irreguarity by pull
| ing back stocks here and there. But
the buying demand and the absorptive
| power of the market were not at all i'm
pared by this process. The market
gave every appearance OF having shak-
en- orr the control of the professional
element. Manipulation was in evidence
In some individual stocks and the buy
| ing by the professionals on a large
scale emphasized the advancing ten
sdency in some cases. The profit-takins
by the same element some times check
| ed or prevented the advance in other
stocks. But the large general demand
Tor stocks from all sources carried ev
erything before it and made the under
tone of the market aggressively strong
throughout. There Is manifestly very
large BODY OF buyers seeking to secure
STOCKS. Their orders are executed
through commission houses and are re-
ce1ved by wire and mail from all quar-
tiers. Other movements are incidental,
due to individual causes in special
stocks or the movements to take profits
ABOVE lndlcated. Sugar was a point Of
weakness, at different times during the
whole day and there was heaviness here
and there in the iron and steel stocks
There was some disposition to go con-
trary to London's lead, a number of
the stocks which We're advanced in that
market being heavily sold here, while
others which fell in the early trading
there were abruptly advanced here.
This was notably true of the Reading
stocks and of Pennsylvania, in which
profit taking was in evidence in this
market all day. There was some heavi-
ness during the early hours in the Pa
cities also, but as the day advanced the
strength in this latter group became
very aggressive, lead by Northern Pa
cific, which advanced az to a record
price, Union Pacific, Missouri Pacific,
Atchison pref, and Southern Pacific
were all bought on an enormous scale
at advancing prices, the latter meeting
the heaviest opposition in profit taking.
Peoples Gas was aggressively strong
also and the strength was disseminat-
ed all through the list. The trading in
Sugar was very large and the price
movement feverish, the stock closing
at about the lowest, having fallen an
extreme 5M. A cut in prices by a rival
company was the cause of the weak
ness of the stock The special news of
the day was little regarded as the
whole movement in stocks is based up
on general conditions. The statements
of railroad net earnings for February
published during the day We're confir-
matory of the impression made by the
January statements Of an unprecedent-
ed level of earnings for railroads. St
Paul, with its heavy charges for operat-
ing expenses and a resulting decrease
in net earnings, was a notable excep-
ton, but the price of the stock was not
affected A feature of the day was the
further sharp advance in the rates of
sterling exchange. The fact that Lon
don is carrying stocks with borrowed
money in New York serves to explain
the apparent rise in sterling exchange
rates when London buys stocks here
and an easing of the money market
when it sells.
Another very heavy days business
done in railroad bonds and with the
exception of some profit taking in spec
ulative issues prices were higher. Total
sales par value 81, $4,000
United States declined "A In the bid
price.
NLU FORE STfJgK M 4 EN- mr.
=
Oprning, Highest, Lowest Quotations
On the New York Stock Exchange, reported
by Prince & Whitley, Brokers, Is Center
Street, New Haven.