The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-02

UNITED STATES STEEL LED
transactions in Stock of the New
Trust Am0untesiEtO Nearly
Quarter ofethe Entire
Transnctions.

-
NEW YORK, April s1.-The prodigious
volume of dealings IN the United States
| Steel securities todayebrought the aggre-
gate sales of all stocks on the exchange
within measurable distance of the largest
dealings On record for q single DAY The
largest single days transactions were on
Jan. z, of this year, when the aggregate
sales reached 2,127, SOB shares The total
for today was s5S, $50 shares. which has
only been exceeded by the record cay
The large part played by the United
States Steel stocks even in such a broad
and active market as that of today is
! indicated by the sales Of the common
and the preferred, those of United States
Steel amounting to ZIG, 100 and those of
, the preferred 16S. 800 shares, or for both
500 shares, which was q per cent of
the total dealings. 1t is very evident
that the activity of the United States
Steel corporation stocks on the exchange.
with their bulky capitalization Of II $40 Ja)D
shares, according to today's amended ar
tlcles OF interpretations. is to constitute
q i,, new era IN the Voume of dealings for
houses today did a sufficient business in
these stocks alone to realize a handsome
fortune simply from the brokerage COM
mission on their operations. One house
was credited with selling upwards of
100000 shares of United States Steel pre-
ferred, and various other house between
SV,oJ0 ana 100 goo shares of either one or
the other stocks. The resources reeuir.-
ed for the support of a stock in which
the dealings are on such a scale that rs
today the confident purchase of all the
stock that may be offered at current
quotations, StRggers tho imagination
But the days event proved that the DOW
eTful syndicate back of these securities
was equal to the task. 1t is current be-
lief that the market management of the,
stocks is under the care of the most
conspicuous and widely known profess
slonal operator in the street. Offerings
which were hurled on the market fairly
VII -i.~I I
! they were rallied and moved upward
through the avalanche, the common ris-
ing 23@ and closing at the top, while the
preferred rose ar extreme IA and closed
within Z of the top. aphe course of these
stocks had a large Influence on the ult;
mate. movement of the whole stock mar
ket- There We're. poiHts Of great strength
mere and there in the early declines but
the pro1t-taking sales were on an enor-
nous scale, and the movement OF
prices highly irregular ana conflicting.
opening advances were about wiped out
before the final orfbuEst. which carried
prices to the highest,of the day A final
1eailzing movement carried the most
active stocks down again from one to
Two points, and made khe closing very ir-
regular. Rock Island was feature of
the day. in spite ofdenials of the report
f f@ con ESQ s ion with the Atchson sys-
| account for The movement in the stock
"A large part of the Speculation was ap-
parently based on the disparity between
| its price and that of the other leading
grangers which have had such tremen-
dous advances in the last few months
The extreme rise in the stock was ~
ana It's net gain points. st. Paul was
strong throughout, and became quite
puoyant, rising 39s, but falling back 10
on the reaction. Union Pacific was very
actively dealt in at an extreme rise OF
much on large dealings. All of the
steel stocks were quite volatile, both
those included in the merger and the
Independent companies. Republic Steel
Shefneld pfd Az, and Tennessee Coal
49, None Of these advances were fully
maintained. Quite q. 1Eunber of dormant
stocks were advanced sharpIy Pullman
rising 6A. Burlington was quite severely
depressed by profit-taking falling at one
time 31s below Saturdays closing, but
endlng with net loss of only 11s. Lack
aWSnna, after an early advance, fell 35s
under Saturday. Money market condie
tons were entirely ignored in the eager
speculative spirit. Although government
lnteIest disbursements are expected to
yleld- over So, 100000 to the money market
tomorrow, the absorption of cash by the
suptreasury on routine operations con-
tlnues very large. Sterling exchange
advanced IL fraction to the gold export
point today On the large demand from
stock houses, who are buying American
stocks abroad. After the stock market
mao nae closed a $500 600 gold shipment to
~.
and more is expected to go through the
We week. Money was distinctly harder,
but not the slightest effect was produced
on the speculation. Conjecture was at
a loss to account for the heavy and
concentrated se!lingrof the United st res
Steel stocks, but there was a suggestior,
that 1t was due to the purchase Of an in
terest amounting t0Iseveral million dol
iarS, Which the syndicate underwriters
had agreed to sell, but had to pass
through the open market
The bond market, rsgas not SO active
relatively as the stoek}market but bust
ness me- was large and prices We're irregular.
e eotal sales, par valuer $50 600 United
states aaat s. and new 4srs declined 4 per.
STOCK QUOTATIONS.
Furnished by Charles H F. Smith 3,
Co., members of Tire New York Stock
b hxcna d'gec+ Pioneer n Press building, who
Hare o1rect wires to Chicago and New
York Closing prices are bid:
OF Closing
Bid BIZ