The age-herald., 1901-04-04
RECORD DAY ON
 STOCK EXCHANGE Variety of Price Movement Hav e
 Rarely Been EquaIIed. AN AVALANCHE OF BUYING There Was an Enormous Amount of Profit Taking During the Day and
 Only Few Stocks Escaped
 Without Serious lnroads.

New York taapril 3.-Today was a rec ord day in many particulars on the Stock Exchange. The extent and variety of the price movement have rarely, if ever, been equalled in a. bull market, al- though the crumbling of prices in panic has occasionally caused as wide varia- tions. All ordinary standards fail in the computation of such a market. The forces in operation were titanic in their power and effect. The undertaking success Of the speculative leaders in advancing prices made them bold to a degree, which 1t IS moderate to term recklessness. They bought with an unsparing hand through the stunning avalanche of offerings which was hurled upon them on the advances and lavished, sheir resources apparently with an abids1g conviction that the as- founding rise ip prices, now so long con- tinued was destined to go indefinitely further.
 That the speculative spirit was still rampant among a large circle of the pub lie was obvious from the large and eager following which was attracted by any show of strength at any point in the list. 1t cannot be said that news in the or dinary sense had anything to do with the extraordinary buoyancy of the market although rumors were plentiful ana aii- embracing. It was also a marked charac- teristic of the market that the dealings were heavily predominant in number or stocks, and thot the general speculation was affected oy two giants, the price movement in which was astonishihs throughout.
 Delaware and Hudson was consplcu- ous leader of the early rebound from the slight opening depression ,.
 Rumors Were circulated that a, lease had been grsnted to one of the large roads almost absorbing a competitive line, It was not until late in the day tnat this road assumed the leadership or lne market when 1t was rushed up py rapio stages on the purchase of blockS ol .hou sands of shares to 151, at which point l. closed at an extreme rise from the iowes' of ll% points. It is not often in the his- tory of stock markets that such move ment Is witnessed In a stock Of large floating supply, large capital issue anu the holdings of which are widely ols- stributed. There were kindred movements to these elsewhere both amongst the srangers and the coalers. The buying or
 
 on general conditions, the large earning power of that group of railroads even III face of last years spring wheat shortage being cited as giving assurance agalhst the ordinary vicissitudes of the crops, to which they have been so sensitive In me mast. The movement resulted In an ad- vance of 8012 points; 5 points in the Omaha preferred; 3& in Northwestern common, 3 in preferred; in St Paul ana 31b in the preferred. The rise in Lacka- wanna was obviously in sympathy with that in Delaware and Hudson ana eA- tended to 51k Peoples Gas became very buoyant at the last and rose an extreme 4sa in sympathy with Rock Island.
 There was an enormous amount of profit taking during the day and only few stocks escaped without serious lnroaos upon their best prices the reaction ex- tending to as much as five in Delaware and Hudson and large amounts in other volatile stocks. There were some im- portant stocks which showed no Wlde movement all day some of them closing at declines. This was notably true Of the steel stocks which were under pressure all day and were much less actively traded in The engagement of an addl- tionaI $1, 900 900 gold for export was totally ignored The demands of the enormous speculation made no impression upon the money market and the additional pur- chases of government bonds by the secre- tary of the treasury kept opinion opti- mistic over the money outlook.
 Dealings in bonds were large and the market irregular Total sales par value, S36s5,000. United States As advanced 4 and old As coupon declined A on the. last call.
 Aau, Nork atock Market.