The age-herald., 1901-04-15
ACTIVE TRADING
 IN WALL STREET Yesterdays Stock Market Was
 Highly ManipuIative MUCH BUYING AT OPENING Great Confidence Was Professed Over the Future of the Money Market.
 Later There Was General
 crumpling of Prices.
MUCH BUYING AT OPENING

New York, April 13.-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 Is- 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 eago 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. Amaigamated Copper was strong and ac- tive and strong, and Sugar moved up 21s 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 it's monthly state ment, touching 156i9, and falling back point, and then recovering under manipu- lation to 156N 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 Monday. There was nevertheless an active selling movement to take profits on the advance, and the closing was IT, regular and below the best all around. The stock market has been feverish and nervous at times during the past week, and the selling pressure has overdone It. self, resulting in sharp corners on both ends.
 The market took on an appearance re- sembling demoralization and prices crum- bied in way to alarm the lons-waisted buQs, 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 strong hand, seemed to have lost control completely. But the later events of the week gave ground for the suspicion that the furry 5n Monday had been In the nature ot "a Shaking out of weak holding, whiph' con stitute an overhanging threat tS an ad- vance.
 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 sharply higher price the country will furnish buyers to take 1t Off their hands at a profit. The impression prevails in Wall street that tie 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 1la m cd " a n Of bonds to supply the purchase money.
 It Is in the course of business that the bankers and syndicates who subscribed for 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 ments in 1t. The possible effect upon in- terest rates of the manner and time of liquidating 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 unproptious features known to exist in the prospect list.
 Less attention has been paid to bonds than to stocks and their movement has been irregular. Old As and new As ad- vanced # and the same registered and the refunding 2's k per cent over the closing call of last week.