The age-herald., 1901-04-14
ACTIVE TRADING IN WALL STREET. :
 Yesterdays Stock Market Was
 Highly Manipulatlve MUCH BUYING AT OPENING Great Confidence Was Professed Over the Future of the Money Market.
 Later There Was General
 crumDling of Prices.
MUCH BUYING AT OPENING

: New York, April 1S.-Today's stock mar ket was highly professional and under active manipulation all through the ses- sion. Brokers who have been active for the bull leaders of speculation through out the recent movement were the largest buyers of stocks, and their operations were especially conspicuous in Rock ls- land, Sugar and the Athisons
 Large buying orders were in the market at the opening and caused general ad- yances in which Rock Island, the Chi cago Terminal, Peoples Gas and Consoli- dated Gas were the leaders. Great confi- dence was professed over the future of the money market, and the buying was said to be in anticipation of favorable bank statement. The strength was very general In the railroad list, Burlington and Northern Pacific both moving up- wards. The United States Steel stocks recovered from yesterdays depression. Amalgamated Copper was strong and sac- tive and strong, and Sugar moved up 21e points and Colorado Fuel an extreme points There was good deal of selling on the advance, and considerable reaction had occurred when the bank statement appeared Rock Island forged upward after the publication of its monthly state ment. touching l561s, and falling Dack point. and then recovering under manlpu- 1ation to 156& before falling back again.
 The bulls eked out the effect of the increases in several conspicuous favorites, fearing developments between the close of today and the opening of the market on MSnday. There was nevertheless an active selling movement to take pronts on the advance, and the closing was ir- l I~zl1 6Aafn n 4 n. The stock market has been feverish and nervous at times during the past week, and the selling pressure has overcome IL self, resulting in sharp corners on both ends. ff97
 ! The market took on an appearance re- sembling Generalization and prices crum- Died in a way to alarm the long.wafsted buRs, and in fact cost them large pronts by wiping out margins and forcing them to liquidate the stop-loss orders. The power of the speculative. pools, which have long ruled with a strong hand, seemed to have lost control completely But the later events of the week gave ground for the suspicion that the furry on Monday had been in the nature Of shaking out of weak holding, which con stitute an overhanging threat to an ad- vance.
 F The action of the market seems to bear out the faith of the speculative leaders that so long as they command resources to buy a stock up to, a sharply higher price the country will furnish buyers to take 1t off their hands at profit. The impression prevails in Wall street that the speculative element now in possession of factors will try to continue for some time in that position.
 The purchase of confronting interests in prominent properties has been often sup 'plemented by an issue of collateral trust bonds to supply the purchase money. = It Is in the course of business that. the bankers and syndicates who subscribed tor these securities should market them. Their price is affected by the market price of the stock which forms their collateral security which gives the bankers and syndicates an interest in the market price of the stocks The profits of the under writing syndicate of the United steel cor poration accrue first in the form of, shares remaining after the various exchanges Under the plan are affected. This is the ground for the supposition in Wall street that elaborate provision has been made for the support of these stocks in the market backed by the resources of the syndicates It must be remembered that a large amount of the loans outstanding of the New York banks are to the various railroad and industrial syndicates made up of bankers and capitalists who are intimately acquainted with the affairs of the money market and prospective move Inents in it. The possible effect upon in terest rates of the manner and time of liquidatins these large loans is obvious. The speculators make much of the pro- posed plans and objects of large capital ists to guard the stock speculation from serious harm from money stringency, and this belief widely and rather vaguely held is an important influence in fostering the speculation in face of the unpropitious features known to exist in the prospect list
 than to stocks and their movement has been irregular. Old As and new As ad- vanced F and the same registered and the refunding 2's A per cent over the closing call of last week.
 New York Stock Market.
 r Rv Prfvate Wire to Murnhv A Co