The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-05-01
NEW RECORD NADE DAILY
SALES OF STOCKS YESTERDAY
REACHED HUGE TOTAL OF
3.2O2,IOO SHARES
NOT A MARKET FOR PIKERs
Sades of Less Than-a Thousand
Shares at a Time Were tho
Exception Rather Than
the Rule.

the Rule
enc Closing.
Bar silver. New York; 5sN 5s-5sN
| Call money, New York. .31A-6 "a
| NEW YORK, April 30!LThere is no
precedent by which to- be guided in the
| formation of Judgment regarding the
! present stock market. Each day of trad
! ing leaves some former record behind.
and not infrequently all previous rec
! days business. The aggregated sales Of
| all stocks today went ahead of yester-
| days hitherto unprecedented total ldsing
| to 1902, 100 shares. Last Wednesday 5
record sales of a single stock, which
were 662, 800 shares for Union Pacific,
! compared with todays sales Of $50
shares of United States, Steel. The ag-
gregate sales Of both the common and
preferred stock of United States Stesl
amounted today to $4,000 shares. An
other record which was eclipsed today
was that for a single hours business
sales for the first hour amounting to over
a million shares against the previous
maximum of less than $4,000 shares 1t
is the usual rule that a large portion OF
a days business on the exchange is done
during the first hour. but mad the &C
t1yity of the market for the rest of the
day continued in normal proportion to the
nrSt hours business the total for the
day would have reached probably iCC0-
COS shares, which would mean commits
sionS to stock exchange members for the
statistics as these convey the t!uest idea
of the dimensions and scope OF the Dres-
emit market. Any attempt at description
would resolve itself largely into an ac-
cumu4ation of superlatives There were
long strings Of successive tranSa cticnS
in some of the most active stocks today
in which none of the sales reported were
of less than coo shares ard running from
that up to 0,0O0 Sha- eS.% If any ordinary
conditions could rule in such market
the fact would have mad great influence
for the stocks which were most notably
strong yesterday were sold in enormous
volumes to take profits. The sharp
break at many points III the closing deal
ing would have been another factor
making for hesitation. But these usual
symptoms of coming reactions have been
so often without the slightest effect in
the recent extraordinary market that
they were totally ignored yby the excited
market, as we'll as many ether incidC nts
such as the gementr1f gold for ex-
port and occasional hardening of the
money market. The pFG5encc in great
force of q widespread public interest IN
usual technical indications. Tnc great
denominations of wea Up W. Ion lave co 4
to the hands of the Abe r;an People ior
several years past and Waicf. Lave lai
IN deposit waiting 70" Opportunity ,or
outlay, seemed to be p6aring into Wall
SIT est, attracted by tfHe1auddcn fortunes;
which are being maGet fI0m day t. day
In the g-sat Price movements of different
stocks. Tie large inflow Of money from
the interior to New York seems to be du.
to this tendency, andlois keeping this
money market easy in spite Of the de-
mand from other sources There is very
little interest in the way of specific news
accompanying the movement OF prices
The announcement this morping Of tn,
absorption of the Lcyland steamship lin.
by j. i. Morgan had & tendency to give
a renewed stimulus to the speculation as
indicating tho continued activity of TIL,
most influential individual III the recent
movements towards
The belief in wholesale consolidation Of
great railroad SyStenl5 even at the enor-
E,cus expense Involved in the buying Of
the control of them is potent factor in
general speculation. The recent enormous
business may be due 20 buying and sell
ing then rebuyiTig, many tines over Of
to persistent short selling ON every adj
vance, and then buying to cover as the
fufther advance iIcperi1g the position Of
the bea,s. That such purely Speculative
days market is probably not seriously
doubted. An analysis in detail of todaV'S
market would be futile so great is it's
extent and variety, and in the later deal
ings it's irregularity. Northern Pacific
was under pressure of proiit-tal,ing All
Gay, and Union Pacific and the granger5
generally showed it's influence as the day
Frog essed. The Atchisons were tie new
strong feature on the talk of an advance
in the dividend. An advance ~ New Yo k
Central brought speculative attention
DdCA " Inc JASSIeIn TallrQaQS, Tut 1hclr
gains did not hold well. The United
States Steel stocks We're comparatively
well maintained, closing with net gains of
rs for the common and 2 for the pre-
ferred after reactions of rs ard 13s re-
spoctiVely from the best prices
The heavy profit at the last made the
close irregular. The bond market was
j regular. Total sales, ,paE value, $6.245-
eco. United States aew tours advanced
Is per cent on the lasttcall.
STOCK QUOTATIONS
Furnished by Charles5H. f. Smith &
Co, members of the New York Stock
Exchange, Pioneer Press, building. wlo
have direct wires to Chicago and New
YORK Closing prices are bid:
~ C Closing.
nays Bid Hid