The times. [volume] (Richmond, Va.) 1890-1903, 1901-03-30
BULLISH SPIRIT
IN ASCENDANT
Profit Taking Was on Enormous
Scale All Day.
PRICES, DID NOT SUFFER.
Burlington Was Buoyant from the Outset,
Furious Speculation Carrying II Up to
IFS, With the Close Only Shade
Lowcr-Bond Prices Irregular.
tBy Associated Prcss.) }

NEW YORK. March .a.-There was an
other da yof very heavy speculation ii
The stock market to-day. Inc individual
examples OF notable strength served as
IAN effective prop to the whole market
and kept the bullish spirit in the ascen-
dant- although protit-takinG was on an
was not especially connected with any
news development, but every received Il
favorable Interpretation from the enthu-
SiaStic bulls, and ii anything unfavorable
ignored.
Burlington and United States steel
stocks were the most conspicuous TEA
lures in the market, as was the case yes
1erday. and their strength had a decisive
influence on The whole list.
Burlington was buoyant from the out
set. mounting Az points over last night S
close i'll the opening transactions by sue
ccssive stages of J. point at time on an
absorption Of 1o,vro shares. No autho-
1-izcd announcement was made Of the
closing OF the Northern Pacific Bur!inS-
ton deal, but the spectators accepted
the assertion that the plan was ripe.
There WAS furious speculation III the
stock all day. which carried it up through
successive reactions 10 10, with the close
only a. shade below that. The protit-tak-
ing in Northern Pacific was Very heavy,
carrying the stock down IL. from the top
level, and closing at only a small rally
With a net loss OF ne volume o.,
dealings in the United States Steel stocks
was contemplated with delight by the
commission brokers as an earnest of the
possibilities of an active speculation in II
stock comprising Il capital OF S,opD.0uo
shares.
The days business in tho common
stock amounted to $4,000 shares and in
The preferred TO l2o,1n shares, or for
both il per cent. of the total tranSac-
lions The common stock was lifted at
one time 13s to 4i and the preferred IL
To S. The offerings brought on at this
jewel We're enormous. and apparently the
supporters of the stock were SatlShcd 10
,nainiain them at near that level, which
WAS done 10 the end.
There was a. Very notable demand for
high grade investment stocks and for
some others on which tho dividend return,
is still at high rate There were rari-
Gus other points of strength. Including
the Readings. the New York public utili-
ties Peoples Gas and various otlle-
stocks including the ErangerS- Tho
Fries. Wheeling and Lake Eric and the
southwestern group showed the effects Of
realizing. Sugar was also under pressure.
The fact that no engagements of gold
We're made for tomorrow s steamer Was
regarded as favorable factor. although
the sterling exchange market was called
firm at a slightly lower level in sympathy
with somewhat easier discounts in Lon
don. The promise of an unfavorablc
bank statement was ignored. as call-loai II
rates did not rise above . per cent, and
We're offered down TO " per cent at the
close loans loans carrying over until
Monday.
There vas less activity in the bond
market to-day. and the price movement
was irregular. Total sales, par value.
S}.Sa,.nO. United States new As adj
ranced !. on the last call
Inc total sales of stocks to-day were
1,JS.,. 900 shares.
MONEY AND E,NCHANG E.-Moncy on
cali steady at cI:: per cent: last loan at
:. Per cent: prime mercantile paper. 500
az per cent Sterling exchange firm at
The decline. with actual business in bank
ers' bills at S4.SSIS03. SS1t for demand and
at S4-S33a for sixty days: posted rates.
So 81, and $3.50: commercial bills. S4.St4D
ISL. Silver certificates. 53G.MG1: bar
silver. 39Ss; Mexican dollars 40. State
bonds firmer: Government bonds Strong;
railroad bonds irregular.
STOCK QUOTATIONS.
Furnished by Mnssrs. SCOTT & STRINGFELLOW,
Members New ork Stock I21 change.