The Minneapolis journal., 1901-04-02

lation, is Reading
Counselman G Day to Petit: London not
factor at moment. The tremendous nc
mentum of yesterday will carry prices on to-
day. 1t is a fever that must have its run,
and we trust the patient won't show too great
weakness when the temperature goes down.
Verhof from Milmine: London opened
strong and higher, but receded on proft-tak-
ing
New York Gossip: Our market has con
tinued to advance on enormous transactions
in the steel stocks as we'll as in railroads.
1T would seem as though certain liquidation
of interests or adjustment of accounts had
taken place to-day in United States Steel
common and preferred shares the nature
OF the orders has been very unusual and the
enormous transactions at about one price
would indicate a division adjustment of
Joint accounts. Rock Island has shown fur
ther strength, and St. Paul has also ad-
vanced various rumors being ahoat regard
ing each of these stocks, but as it is a time
when rumors are most abundant, it is not
necessary to attach too much Importance
thereto. The situation regarding Chicago,
Burlington Quincy is extremely favorable
to higher prices, and there seems but little
doubt that this stock will go into the con
troll of the Great Northern and Northern Pa
ciflc a basis which will warrant its sell
ing not far from 1870. We understand that
the matter will practically be concluded at
the end of the week, on MIR. Hills return.
Tobacco securities have been somewhat slow,
but much Of this is due to the fact that the
inside operators are in no hurry to complete
their plans, and are anxious that the securi-
ties should decline in order to afford more
favorable opportunities for increased pur-
chases. The quarterly statement for the
present period will not show such a very
marked Increase of earnings but after the
first of July the operation of the change in
the new tax bill will be much more marked
rate which viii be very surprising
Among the very cheapest stocks, in our opin-
ion is Continental Tobacco common, which,
at As or thereabouts, must pay very hand
somely during the next six months. We un-
derstand that American Tobacco stock will
not increase its dividend. but that its large
profits will be diverted to the purchase Of
fresh plants and the enlargement of the
present factories so that ultimately redistri-
button of stock will take place somewhat
on the lines previously adopted In this
case it will, during the next six months. ad-
vance to point where the new shares, when
subdivided, will pay per cent and sell not
far from 80. We look, in other words, to
see American Tobacco rise above 175 before
little more active TO day, on call as well as
on time which was to have been expected
at this period of the year but there are no
symptoms OF annoyance OF any kind, and il
is not likely that there will be much, if any,
advance in rates. In view of the rise of st.
Paul and Rock Island. would like to say
a good word for Omaha common, believing
that it will be one of those stocks which will
not only Justify purchases, but which will
make a very great record for itself within
the coming twelve months.
Uptown gossip to Lewis Keene is a bic
buyer of stocks This movement is undoubt-
edly intended to help out the large holders
by making strong market for them to un-
load in. Liquidation is said to make its
appearance in high-priced stocks on all the
sharp upturns. II stocks are passing into
/ weak hands the bull campaign may be
brought to an abrupt termination ahead o
time. To all appearances, outwardly, how
ever, bull fever has not run its course Ii
! will nave to go the full limit When il
| reaches that point it will be found that tht
big fellows have slipped out. ALI big bull
movements terminate in this manner. Trad
/ ing in United States Steel stocks is on al
| enormous Schale. III they pay dividends they
| surely must go higher The unloading of 100,
| 600 shares of common yesterday made no i'm.
| preston upon the price st. Paul and Rock
| Island are buoyant with decided upward ten
dency, while Chicago, Burlington & Quincy
hesitates. Among the close friends of ST
| Paul the belief is strong that it will soor
overtake Chicago. Burlington G. Quincy. Alb
! sence of news in regard TO Northern Pacific
| Chicago, Burlington Quincy deal leads
| many to believe it will end in a fasco like
| the St. Paul deal did. Those who claim t.
| enjoy the confidence of Mr. Hill deny tha
| the deal has fallen through and declare
! something of great interest will be given ou
! very soon. It is an open secret that many
! Chicago, Burlington & Quincy stockholders
| are opposed to turning the road over to Hill
| They are quite well satisfied with the re
turns they are getting on the stock, and car
J see no advantage In the proposed deal. While
| bull fever lasts money can be made on long
side of Reading common and first preferred
also Erie common. These are cheapest and
most promising of the coalers. Anywhere
! around 20, Wisconsin Central is a purchase
| Good parties buying it for 80. Money slight
| ly dearer, and small amount of gold has
| been engaged for shipment to Europe, bu1
! the people who have the stock market in
| hand are not in the least disturbed by these
! things. There is no danger Of money rates
| advancing very materially, and the gold
movement is not likely to assume alarming