The age-herald., 1901-04-30
FURIOUS ACTIVITY
 WITH THE STOCKS N
 No Check to the Advance in
 Prices as Anticipated GOLD SHIPPED TO EUROPE The Demand for Stocks Maintains Its Physical Force and Only Awaits Leadership to Eclipse All
 Previous Records.
GOLD SHIPPED TO EUROPE

New York, April 2e.-If there were any doubts entertained that the speculative advance might be interrupted after the holiday interval they were dispelled within five minutes after the trading opened in the new temporary quarters Of the Stock Exchange. The first transac- tons demonstrated the leading position of the United States Steel Stocks. Union Pacific and Northern Pacific in the specu- lative situation and that leadership was unaffected during the whole of the day.
 There was great activity and some striking strength shown by number of stocks. but they paled into insigniicance in comparison with tho furious activity and extraordinary price changes in the leaders. Often during the day there were strips of several feet of ticker-t -tapers which recorded successive transactions in one or the other of these stocks with not single block less than one thousand shares in the series and running up to 5000 shares. United States Steel Stocks did not show such wide fluctuations as is natural from tho source where iuctua- tions usually emanate. The stock. how SFeT, u6lu as lB us WOnt-
 There were gains of sss in Pennsylvania, in Baltimore and Ohio; 3h in Illinois Central: 3A in St Louis and Frisco sec- ond preferred, and number of related stocks from to points Colorado Fuel rose points and Amalgamated Copper SIS. If these stocks are set apart 1t will be found that the dealings elsewhere and the movement of prices otherwise were not sensational. But, contemplating these special price movements and the volume of dealings in the stocks enumerated, one has compassed the salient facts of the ex- traordinary market of the day.
 There was no specific news to account for the unprecedented dealings which lifted the days record to 2,76o,oO0 shares. As the vital point of the speculation Is the money supply, the increase in surplus reserve as shown by Saturdays bank statement. are favorable factor.
 Much stress Is also placed in the gov ernment'S disbursements to be made on May l, when large corporations dividend payments are counted on for help to the money situation. The reliance placed on these factors was made evident by the small monetary effect of the engagement of s1,750000 in gold for export and the opinion of exchange experts that prob ably s5,000,000 might go out during the week. There was some doubt as to the destination of the gold but that 1t would go to the continent and not to London seemed evident. The additional engage ment of s1 100000 for London was un- known until after the close.
 The decline of the continental ex- changes on London in spite of the rather plethoric condition of the continental money markets and the relative stiffness of the London market is beginning to arouse surmise in financial circles whether preparations are not making by the con- tinental government banks to provide for floating a Russian bond In addition to the requirements of the British loan.
 The strength of the steel stocks was accompanied by rumors of coming state ments which will show extraordinary earnings by the United States Steel Cor poration.
 The action of the whole market shows clearly that the demand for stocks from all classes of buyers maintains It's physi- cal force, and needs only the leadership of an upward movement on the price to bring in such buying as eclipses all pre- vious experience in the history of spec ulatve markets in New York. The final volatile outburst in Union Pacific and Northern Pacific today seemed to arouse misgivings and there was free sprofit-tak- ing all through the rest of the list.
 Bonds were steady. Total sales, par value, S6, 100000. United States 5s ad- vanced IA, and the As coupon and refund- ing 2s, 1s per cent on the last call.
 New York Stock Market.
 Rv Private Wire to Murphy & Co.