The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-04-06
STOCKS WERE IRREGULAR
TRADING WAS NOT SLOW, BUT AD-
yANCES WERE NOT MAIN
TANNED so WELL
B. G o. WAS A FEATURE
Jumped Up Rapidly, but Lack Of
Sustaining News Prevented
Stock From Remaining
at the Advance.

NEW YORK, April 5.-The stock mar
ket continued its active and extremely
irregular character today. There was
some hesitation at the outset and profit
taking was on a large scale during the
early hours of the day, but the agrees
sive strength OF some individual stocks,
notably Pennsylvania and Baltimore &
Ohio. served to sustain prices in face OF
realizing until the latter part of the day.
The market then developed unmistak,
able symptoms of being overbought. and
the pressure to sell In order to realize
profits became urgent. The reaction in
Pennsylvania and Baltimore & Ohio left
prices without a sustaining prop and they
tumbled rapidly. The Pacif1cS, the
grangers and some of the Southern rail-
roads were most strongly affected, but
the whole list fell easily, and efforts to
support the market were apparently
withdrawn for the time being The SELL
ing movement was allowed to spend it
self before support was forthcoming.
There was a rally in the last fifteen min
utes. but 1t retrieved only small part
of the decline. The operations In Penn
sylvania Were on a similar scale to those
of yesterday and carried the price al
most a point over last years highest
level. The very large selling orders which
were detected in the stock aroused I'M
easiness in spite of the upward move
ment In the price. Baltimore 81 Ohio
was rushed up also to 8712. and proved
unable to hold the advance, which was
unaccOmpaned by any news OF further
developments to account for the strength.
The top-heaviness of Pennsylvania and
Baltimore & Ohio decided the reaction
airy character of the market on the an
nouncement Of no dividend ON Baltimore
& Ohio common stock. Wall street was
full Of rumors Of further combinations
already affected or to come in the trunk
line territory. The rumor Of a combina-
ton of the coalers was persistent and
raised the prices of those stocks for a
time, but they yielded sharply on deniais
of the rumors. Various minor roads in
New York Central territory were af-
fected in the same way. There was a
very general wiping out of gains of this
character In the late reaction. The
Hooking Valley stocks showed notable
strength on reports Of large earnings,
the common crossing 40 and retaining a
net gain OF ia.
Then general news and conditions con-
tinued favorable to values. money work
ing easier and good assurance being af-
forded of a. favorable bank statement,
The sensitiveness of the market to this
influence and the continued firmness of
sterling exchange while London buys
stocks. leads to considerable questioning
as whether foreign operations are not
conducted under cover and through chan
nels other than those under observation
Dealings IN bonds continued on a very
large scale and at advancing prices.
Total sales bonds, par value, $5.1SO.050
United States % declined p, and all other
issues Il in the bid price.
STOCK QUOTATIONS.
Furnished by Charles II. +. Smith &
Co., members Of the New York Stock ex-
change, Pioneer Press building. who nave
direct wires to Chicago and New York
Closing prices are bid: