The age-herald., 1901-03-28
STOCK MARKET
 WAS CONFUSING Contest Waged Between Bull
 and Bear Following SOME SKILLFUL TRADING Market Opened With the Influence of Last Nights Upward Rush, But Selling to Take Profit Caused
 a Decline Later On.
SOME SKILLFUL TRADING

New York, March 27.-The movement of today's stock market was confusing and irregular to the last degree. The deal ings were highly professional, and there seemed to be contest waging between bull following and bear following, each side commanding the services of some of the oldest and most skillful professional operators in the street. While such was the current belief among room traders and the outside speculative contingent, whether the bulls were all really bulls or the bears really desired to see lower prices, 1t would be very difficult to say. A market of such a character Is distin- guished by the wariness and the skillful ruses employed by operators. For in- stance, experience shows that nothing will cause such an eager support by large buy ing orders for the account of the friends of stock as a bear raid against it. This gave rise to the suspicion tT1at some large operators of stocks were using we'll known bear brokers to sell out and realize profits in order to give the impression that the selling was for the short ac- count The market opened with the in fuence of last nights upward rush still manifest, but the selling to take profits caused a decline to set in almost immedi- ately which forced prices very gently below last nights level. In Burlington and Northern Pacific the profit taking was especially heavy owing to the mea- gre details which accompanied the alle- gation that an agreement had been reach ed for the absorption of Burlington by the Hill-Morgan interests in the North west. The announcement of an export of gold to France also had a depressing in fiuence. The announcement gave ground for the usual wrangle among exchange experts as to whether the movement was a special one or a regular exchange op- eration. The general feeling Is that 1t is the prelude to a regular outward move ment of gold.
 Bankers professed to have no fear that such a movement will effect the money market unfavorable The feeling of de- pression was practically overcome during the first hour and during the rest of the day there was succession of advances of different stocks, each development of new strength causing but a slight re- sponse in the general market and being invariably succeeded by realizing move ment which carried back prices all the way from a fraction to two points. Prac- tically each hour during the day had it's pulSation or IniS sort. burlington and Northern Pacific were conspicuous in the recovery and both made new record prices. The extreme rise in Northern Pa cific was four points and in Burlington two and half. The belief that the coal miners strike wil be averted affected the coalers and the Morgan stockholders generally moved in sympathy. In this movement the Fries, the Reading and Southern stocks all moved strongly up- ward The movement in Burlington af- fected the other grangers by sympathy Northern Pacific rose to a new high level on the very favorable statement of Jan uary net earnings and the Southwesterns were generally strong in the belief of the approaching merger, the Colorado members of the group being conspicuous. The Atchisons were also affected on re- ports of an early dividend on the com mon. The resulting gain exceeded two points in many cases and reached as high as four points. Among the specialties Sugar, General Electric, Colorado Fuel and the Rubber stocks were conspicuous, Rubber preferred rising seven and a half Union Pacific was heavy throughout, al- though 1t recovered sharply from the lowest The decrease in the February net earnings held the stock down Only few stocks closed at the top and the prof1t-taking which was feature throughout was going on at the close. which was irregular.
 The bond market was strong and con tinued active. Total sales, par value. 6, ,035, 900. United States Ss registered ad- vanced A and aid As registered A per cent on the last call.
 New York Stock Market.