The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-03-18
PRICE ONE CENT
4 RECORD DAY FOR STOCKS
Heavy Dealings and Surprising 1d-
vaaces in Wall Street.

Amount of business Transacted and
the Boom in Prices Likely to
Eclipse Anything in the History
/ of the New York Exchange.
! NEW YORK. March 1S-The New York
/ Stock Exchange had a wild and exciting
/ opening this morning with many sensa-
| tionaI advances in prices and numerous
| new broken records for high levels Bust
ness was immense and the exchange, sc
J times, was almost = pandemonium. It
| was thought that the record for the day
| would probably eclipse any heretofc e
made, in the amount Of business done.
| as well as in the prices obtained for
| stocks
! The excitement Of the day was not un-
| expected. Last week showed all the u.s.
| uaI symptoms Of preparation for a big
Monday Prices advanced sensa tionally
/ in some groups every day on what had
| all the appearance of professional ma
nipulation Toward tn end of the week
! the public began TO buy stocks enthrsi-
| asticaIly as it has not done at any time
/ before during the long advance since
! last September. There were many wild
| stories OF deals affeat and with so many
! real combinations and consultations in
! the air the public was not inclined 70 els
eliminate. The few items Of bad news IN
the situation, such as the threatened
strike in the anthracite mines and poor
bank statement for last week, went en-
/. tirely UNDECIDED. Yesterday the newsra-
per comment on the Stock Market 81 ia
ton VS. extremity buIIish.
As 4 result of all these conditions the
public was almost frantic 10 buy stocks
this morning Some of the large interests
also seemed anxious to help them put
prices up. The immense realizing at all
times noticeable had little effect IN check
ing the advance.
Chicago. Burlington and Quincy shares
doomed on the Chicago report that
James J. Hill had acquired control of the
road The stock sold up to 1924, having
closed on Saturday at 1901. According TO
the report the Burlington system is 10 be
! leased TO the Great Northern and North
| ern Pacific Companies, per cent divi-
! bends before guaranteed on its stock. It
! is said that the Morgan and Hartman In
| teresJs got control OF the system several
weeks ago and that with them Mr. Hni
negotiated the lease.
Burlington has been the sensational fea-
ture OF the market for more than a week
1t started 70 squirt around I45 and has
gained an average OF more than two
points day since that time. Its price
WITH the dl,.Idend and rights recently
declared IS virtually 1t0. This is the high
est price affirmed by the stock since 1855.
Rock Island and the Atchisons also made
new high prices. The AtchisOns have
never sold as high as at present and Rock
Island not in two decades.
The traction securities advanced sharp
y TWO or three points each TO the highest
levels OF this movement It was the rJI-
NOR regarding this group that the Man
haitian has been leased by the New York
Central on per cent guarantee basis
This story has been many times denied,
but the Street seemed more willing TO
believe II today.
Another noticeable feature of the boom
vas a renewal Of great activity and
nave been exceedingly dull and weak for
some weeks past, or in fact since II be-
came known positively that the United
States Steel Corporation was an actual
plan Today these stocks were doomed
as sharply as any others on the list The
preferred shares were jumped up three
and four points and the common one and
two points. The buying seemed TO be
inside.
II has been the opinion Of some of the
best authorities that these stocks would
have a sharp rally before the end OF tbs.
present boom in the general market 1t
has been said that this would be neces-
S3ry, as an lnducement TO the public to
DUy the SHARES OF the new Steel Trust,
a vast quantity Of which are TO be sold
some day # not Immediately. The pes10d
during which the shares OF the old com
p3nleS were to be deposited with the
Morgan syndicate viii expire on Wednes-
day II Is said that the necessary amount
Of stock has been secured by the syndt-
cate
Some market authorities this morning
expressed the opinion that today's Wild
market Is the beginning OF the end Of the
boom They say that such a big Mon
Gay almost always MARKS q turning
point Others are still wildly enthusiast
tic with protectors that the real active
ana sharp advance has only just begun
IN either case temporary reaction Of
some importance is not unlikely some
time this week