The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-03-28
BURLINGTON AND NORTHERN PA
CHIC ESPECIALLY STRONG ON
RUMORED CONSOLIDATION
PROFESSIONALS WERE BUSY
Difficult for thee Layman to Say
whether Price Movements Are
Legitimate OF Entirely Due
to EIanipulati0n.

NEW YORK, March a7-The movement
of today'S stock market was confust ing
dealings were highly professional aud
these seemed to be- a contest Waging be-
tween bull following and bear fol-
towing, each side commanding the ser
vices of Some of the oldest and most
skillful professional operators in the
street While such was the current be-
lief among room traders and the out
side speculative contingent, whether the
bnllS were all really bulls or the bears
really desired to see lower prices it
would be very difficult to say. A market
of such character is distinguished by the
WarineSS and the skillful ruSes empioyed
by the operators. For Instance, expert
ence shows that nothing will cause such
eager support by large buyins orders FOR
the account of the friends of a stock as
tne knowledge of a bear raid against It.
ms gave rise to the suspicion that some
large operators long of stocks were using
Wen known bear brokers to sell out ana
realize profits ir. order to give the i'm
preston that the selling was for short
account. The market opened with the in
luence or last night s supreme rush still
manifest, but the selling to take profits
caused decline to set in almost imrDed-
lately, which forced prices very gen
esralIy below last nights level. In Bur
nnSton and Northern Pacific the profit
taking was very heavy owing to the
meager details which accompanied the
allegation that an agreement had been;
Eeached for the absorption of Burlington
~
west. An Increase of the export of gold
10 france also had a depressing influence
Inc announcement gave ground for the
usual Wrangle among exchange exr3erts
as TO whether the movement was 8
special one or a regular exchange opera
ton The general feeling is that it is
the prelude TO a regular outward move
ment of gold. Bankers professed 70 have
no lear that such movement will affect
the money market-s-BnfavorabIv The
deellng OF depression was practically
overcome during the ffgst hour, and DUR
ing the rest of the Gay there was, a
succession of ADVANCES of diff, ent st y, K
eacn development Of Few strength caus-
ing put a slight response in the general
py realizing movement which carried
prices back all the way from a fraction
10 Two points Practically each hour dur
nnS the day had ttsfpJfisatien of this sort.
splcuous in the recoVsiy, and both made
| new record prices. The extrer!e rise in
Horthern Pacific Msaslr4 points and in
n9rlIhgton re. Il1el belief thai the coal
miners strike wflnibs- averted, affected
the coaiers, and Morgan stocks generally
moved III sympathy. In this movement
the Fries, the Readings and the Southern
railway stocks all moved STRONGLY mn
wards. The moverdent3 in BIIrIine7fo af-
fected the other CHANGERS by sympathy.
missouri Pacific rose to now high Level
on the very favorable statement OF Janu-
airy net earnings and the Southwesterns
were generally strong in the belief in the
approScnlng merger, the Colorado mem
perS or the group being Conspicuous. The
AtcnlsonS We're also affected on renorts
Oh an early dividend on the Common. The
resulting gains exceeded 2 points in
many ca seq ahd reached as high as 4
points points Among the snaciaIties Sugar.
6Genefal Electric, Colorado Fuel and the
| RuooeT STOCKS We're conspicuous Rubber.
preferred rising 71s. Union Pacific was
Heavy throughout, although lit 5ttsco verso
SHARPLY from the lowest. The decrease
IN me FebTHarys net earnings held the
STOCK GOWN Only few stocks closed at
the top and the proft-taking which was
a feature throughout, was going on at
the close, which was Irregular.
Ihe bond market was strong and CON
tinueds active fetal sales par value * :
o5o; O00 United States. IS advanced n ana
old IS registered Is per cent on the last
The board of governors of the Nav
YORK stock exc, 9nge has decided to
suspend business on Good FRIDAY Anil
., and on Saturday April g. = =
The listing committee of the New York
STOCK exchange has admitted to the In-
Ilsted dsnartment transactions. ri, =
new United States Steel cornoration
stpcks, Which will traded in las 4 wliert
49, STOCK QUOTATIONS. -rov-@.
Furntshedl by. Charles H. F. .snit4r r
Go., members of tire New York StoelS
exchange, Pioneer Press blIilding. se ~ II
nave direct wires to Chicago and Nav
I CfR! CLOSING prices sra bi5, 'S''