The times. [volume] (Washington [D.C.]) 1897-1901, 1901-04-10
THE BEAR TREND CHECKED
A General Recovery Takes the
Street by Surprise.
Interest Well Diversified. Though
the Dealings Contrnsted with the
Late Activity-Advnnces i'm Bur
Iinrton and Northern Pacific.

NEW YORK. April 9.-There was gen.
eraI recovery in today's stock market,
which movement, it is safe to say, took
the street altogether by surprise. There
were no developments of weight over
night to which the reversal in the course
of prices could be referred. The money
market continued exceedingly firm, with
the bulk of the borrowing on call effect
ed ct az to per cent.
There was an active enquiry for time
loans at and around per cent Such
statements of traffic returns as were sub
mitted today were satisfactory exhibits
and they comprised about all the news
there was bearing upon particular stocks.
The reopening of business upon the Lon
don stock exchange brought with 1t slight
and irregular changes in the quotations
for American stocks, as compared with
yesterdays final prices. Foreign houses,
however were moderate buyers in this
market fact which. in the circum-
stances carried no little weight in
strengthening confidence.
The market opened strong and with only
slight reactions advanced steadily. Trad
ing contrasted materially in activity in
comparison with recent large totals. but
interest was exceedingly well diversified,
all market EtttlNiuB Il
fair amount Of attention.
There was still wanting any definite in
formation respecting the status of the So
called Burlington and Quincy deal. but
both that stock and Northern Pacific
scored noteworthy advances. other i'm
portant movements in the railway list
were in the Erie issues, New York Cen
trail, the Atchison shares, st. Paul, and
notably Rock Island. There was how
ever. virtual absence of news bearing
upon any of the movements in question.
The industrial quarters showed a num-
Der of substantial advances. Sugar Re
filming was conspicuous in respect of ac-
tivity and rose on the announcement of
an advance of 10 points in all grades of
refined sugars. all Of the companies par
ticipating There was also rapid rise
in United States Rubber common and
preferred. with. however. nothing to be
cited in connection with the movement
The United States Steel Corporation
stocks were again actively dealt in with
in comparatively narrow limits. Among
the so-called sperialties Amalgamated
Copper was the feature in respect of
activity and was decidedly strong Both
Consolidated Gas and General Electric
made noteworthy advances
Profit realizing sales were evident in
Colorado Fuel and Iron. The local
traction shares were firm, but nothing
ia the way of news or gossip attended
their course.
Some of the lower priced railway stocks
also showed pronounced strength, con-
spicuous examples Icing Texas and Paci-
nc and Evansville and Terre Haute. the
last named advancing presumably ahead
of the closing OF the books tomorrow for
the dividend payment. The strength of
the New York Central was, as usual, at
tended by advances in the so-called junior
Vanderbilt issues.
The general character of the market
suggested that yesterdays sharp losses
had resulted in large part from opera
lions for the short account and apparent
ly it was owing to the retreat of the
bearish contingent that todays recovery
was in large part owing There was no
important change in fundamental condi-
tions. and little or nothing in the situa-
ton of character TO invite new general
buying.
The general course of prices, however,
led TO very decided change in the opin-
ions so commonly expressed after the
close of business yesterday that the ad-
vance In the market had finally culmin-
ated with yesterdays dealings.