Evening star., 1901-04-15
Stocks Were Bullish in Spite of Dearer
Money.
BULGE IN AMALGAMATED COPPER
Strong Interests Were Represented
Among the Buying Element.
GENERAL MARKET REPORTS
Special DISPATCH to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. April 15.-opening prices
this morning reflected a steady speculative
undertone. in spite OF an irregular tend
ency in the active shares. London sent
over higher range of prices. especially
for the new steel stocks and Southern
Railway preferred. Commission houses
were buyers for a time. but later in the
day evidence Of profit-taking was apparent
and the market continued to be irregular,
in spite of the advances in the specialties.
The money rate ran up to per cent. but
this fact was disregarded as a market in
fiuence. Bankers insist that there need be
no alarm on this account, but conservative
houses continue to advise caution in as
suming new market risks There is no diff
ficulty In carrying stocks as yet but the
money rate is an unwelcome reminder that
banking facilities may become exhausted
and loans be called at an fnopportune mo-
ment
The larger interests continue to buy with
a confidence which suggests a knowledge
of available funds not as yet publicly dis
closed. This display Of confidence serves
to hold prices and inspires a demand which
would be lacking were surface indications
OF the money market allowed to prevail.
A sensational advance In Amalgamated
Copper was a feature OF the opening hour,
the price advancing per cent to 40 on
sales OF 1880 shares. After a period of
profit taking the price was advanced to its
best level and well sustained. Rumors of
the absorption of new companies and a set
tlement OF all past differences with the
Clarke companies accompanied the ad-
vance.
During the afternoon a sharp advance I'm
chicago Terminal securities carried the
common stock over 30 and the preferred to
5I1s The buying was excellent in charac-
ter and higher prices are predicted for both
The advance was very sudden as the result
or a scarcity in the floating supply of stock
Several of the largest houses in the street
are Identified with the movement.
American Sugar was marked up during
the afternoon by the pool, and several of
the older industrfals were in good demand
also. Colorado Fuel gained @ per cent un-
DER aggressive buying, explained by de-
sire TO secure control of the company
FROM the recent buying of the stock II is
difficult to determine Just how substantial
the movement is but 1t has many of the
ear marks of serious attempt to advance
the price because Of value.
The Traction stocks were advanced sub
Stantially for time, the principal feature
of the group being Metropolitan. The
usual holding of Brooklyn Transit between
S3 and 81 was recorded. Consolidated Gas
was advanced under the prospects for i'm
portant developments within a day or two.
The price was given excellent support
considering the responsibilities of carrying
speculatively a stock selling above 800
The Burlington deal is still in the silent
stage. although evidence that a large block
had been bought at private sale tended to
was the subject of much realizing but
was given excellent support.
The Southwestern issues were steady but
without special feature.