Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1901-05-02

NEW YORK STOCK MARKET.
Features Of The Days Dealings IN All the Lead
ing Stocks.

New York, May 1.--LTion Pacific again
furnished the sensation or the Htock mar
kct; today, and tine movement uf that
stock ana Of stocks correlated win II IN
The speculation dominated tho mark.
practically all day. The stocks showed q
good gam al the opening ana was iifinl \
maintained ali through the period "
sharp reaction when the enormous prom
taking had borne down prices after the
opening. This reaction had become very
generai when Union Pacific Logan 10 adj
vance by sucn stria.s ana on sdCr a SUE
cessiOn Of buying ofder3 as wa8 a sur
prise even In the current market. IN.
advance was pretty steady by ;raction.5
up to about H. but IRON that point the
advance became wild. Jumping pOigL
betw. EN- sales aon"t;n.cs AMI failing bi -.
a3 abruptly. bat without any IcIa IA ,ipn
In the character OF me buying tIii tn
price touched 10. From that po.n. tir'
stock Tell back py I.v.rIgh huctt.ai!oaA
TO ~ and then yibrat,d Willy. 'Ihc no
lent relapfe in Union Pacihc came abpu:
the sam. time as the announcement Of
the dividend action on AtCii8pn. As
tl.r. have been very deinGuStfativr
claims that this s"mi-annuai dividend
.ouid he per cent. instead of ~ pee
cent there 9et. soIn. isIDI.otnted uad-
.ru who SOLD the stock freely on the an
nounc. ment, causing Il r"ia Pse Of : points.
The market looked ~ this tune ~ though
il would lose All The advantage derived
from the sDurt in | MON fdCii1c. ana -
iarge part OF the recoyeries. wnicn had
reached from ! to : points from the carr
IoY level were lost again. the gene; q.
movement of prices was 80 crfatiC as 10
throw. thu. aDecIlattOn into confusion ami
up-rators RETAINED from taking action.
leading ~ practically the FIRST period n
:trvthing approaching dull1eSa for the
week .uf IN tn. course OF the afternoon
1 ulon Pacific renewed its advance IN 2
much more orderly and well sustained
! manner than in me morning ana very
notable buyiug of Northern Pacific SUP
piencnted this movement. The great
Irr.cuInflve movement thereuyon resumed
fuli SWING. the participants showing UNI
Diminished industry In seeking out new
Joints ~ strength ana bringing about p
general resumption OF strength. Union
racine. late advance carried IL ~ 70 ~
an extreme rise Ut II points, ANA New
York Central touched 1854, net gain oi
1i, Northwest gained Jls on the day.
These advances were apparently sNmpI-
ih.tIr ana gave color ID the sIppOsition
trai III. Nand.rLlIts had secured cOntro.
w Union Pacific This superstition Was
commonly accepted. this morning. hut thc
violent movement in Union Pacific gave
rise To .Lrnisc Of o new contest for the
control ~ The property. There is an APP
uaarancp OF uncertainty even amongst
III. insiders as to where the actual con
troll Hes The days business was stun 81
abnormal proportions. The United states
steel stock though continuing very ac-
live moved very narrowly except for the
dip after the opening. The large business
Ia bonds today. was largely accounted
for nv the extraordinary dealings and
price huciuation in Union Pacific con
Otherwise the markeJ WAS moderately az
tive and strong. Total sales. par value.
| Sll. sIi..a. United States IS declined :.
I an the last call.