The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1901-04-02

THE STOCK MIX E7.
Great Volume or Dedltng In United
States Steel Securities.

steel securities to-day brought the ag-
gregate sales of all stocks on the ex-
change within measurable distance OF
the largest dealings on record for a sin
gle day. The largest single days
transactions were those of January
of this year, when the aggregate sales
reached 2127503 shares The total for
to-day was 1858, 800 shares, which has
only been exceeded once.
The large part played by the United
States steel stocks even in such broad
and active market as that Of to-day is
indicated by the sales Of the common
and the preferred, the former amount
ing to 216,100 shares and the preferred
to 16S,S00 shares or for both 20 per cent
of the total dealings. 1t is very evident
that the activity Of the United States
Steel corporation stocks on the ex-
change, with their bulky capitalization
of 100000 shares according to to-day's
amended certificate of incorporation Is
to constitute new era in the volume
Of dealings for individual stocks. Sim
gle commission houses to-day did a
sufficient business In these stocks alone
to realize a handsome fortune simply
from the brokerage commissions on
their operations. One house was cred
tied with selling upwards of 100000
shares of United States Steel preferred
and various other houses between $4,000
and 100000 shares of either one of the
other stocks The resources required
for the support of a stock in which the
dealings are on such scale, that Is to
say the confident purchase of all the
stock that may be offered at current
quotations, taggers the imagination.
But the days event proved that the
| powerful syndicate back Of these secur-
| tiles was equal to the task.
! 1t is current belief that the market
management of the stocks is under the
care of the most conspicuous and wide
ly known professional operator in the
street. The offerings which were hurled
on the market fairly staggered the
prices for period, but they were rail-
lied and moved upwards through the
avalanche, the common rising IL and
closing at the top while the preferred
rose an extreme IA and closed within
1tS of the top, The course of these
stocks had a large influence ultimate
movement Of the whole stock market.
There were points of great strength
here and there in the early dealings,
but the profit taking sales were on an
enormous scale and the movement of
prices highly irregular and conflicting
until past the noon hour. Many of the
opening advances were about wiped
out before the final outburst, which car
lied prices to the highest of the day.
A final realizing movement carried the
most active stocks down again from
to points and made these losing very
irregular. Rock Island was feature
all day, in spite Of denials of reported
consolidation with the Atchison system
and Of other runlors set afloat to ac-
count for the movement In the stock.
A large part Of the speculation was ap-
parently based on the disparity between
its price and that Of the other leading
grangers, which have had such tremen-
dous advances in the last few months.
The extreme rise in the stock was 1-2
and its net gain points. St. Paul |
was strong throughout and became |
quite buoyant, rising SIS, but falling |
DdNh l. IL vi the reaction. CHlOn Gd- /
cific was very actively dealt In at an
extreme rise of 2 1-2 and Manhattan
was advanced as much on large deal
ings. All Of the steel stocks were quite
both those included in the
merger and the independent companies
Republic Steel preferred rose an ex-
treme "a Sloss Sheffield preferred
4 ga and Tennessee Coal 4 3-S. None Of
these advances were fully maintained.
Quite number of dormant stocks were
advanced sharply, Pullman rising 6 ga.
was severely depressed by
falling at one time 8 is
below Saturdays closing price, but end
ing with net loss of only l 1-2. Lack
awanna after an early advance fell
3 5-s under Saturday Money market
conditions were entirely ignored in the
eager speculative spirit. Although gov
interest disbursements are ex-
pected to yield over 100000 to the
money market tomorrow, the absorp-
ion Of cash by the sub-treasury on
'outine operations continues very large.
Sterling exchange advanced a fraction
% the gold export poitn to-day on the
areg demand from stock houses, who
ire buying American stocks abroad
After the stock market had closed, a
800, 900 gold shipment to Europe for to-
morrow was announced and more Is ex- .
,ected to go during the week. The tone
If the money market was distinctly Z
harder, but not the slightest effect was
on the speculation. Conject-
Ire was at a less to account for the
source of the heavy and concentrated !
elling of the United States Steel Stocks
tut there was suggestion that it was
lue to the purchase OF an interest
amounting to several million dollars,
which the syndicate underwriters had
greed to sell but had decided to pass
through the open market.
United States threes and new fours
eclined Ia per cent. on the last call.
NEW FORK STOCK MARKET Il
,pcning, Higheat, Lowest Quotation
IN tho New York Stock Exchange, reported !
by Prince & Whitley, Brokers, Is Center !
street, New Haven. \
Open. High. Low. Last. \
I'M. Steel Wire Co. 471h 491a 47A 4g1s \