Evening star., 1901-04-30
FINANCE AND TRADE
Bull Movement in Stocks Continues
Without Abatement.
new HIGH LEVELS REACHED
Volume of Business During First
Hour Broke All Records.
GENERAL MARKET REPORTS
al Dispatch to The Evening Star.

Special Dispatch 10 The Evening Star.
NEW YORK. April 3O-The first hours
trading in today's stock market eclipsed all
previous records. over one million shares
changing hands during that period. The
size of the individual lots was again a
feature, and in this particular also new
record was established.
The opening transaction in United States
Steel common was recorded on a running
scale of prices from 81 to %. and aggre-
gated Jo,Un shares. Twenty-Five thousand
shares of Steel preferred changed hands
from 100 10 iol. and Union Pacific opened
with single block of 3U.OOo shares. In all
parts of the list the demand was enormous
ana no one was willing to predicate the
outcome.
The tide was all one way. and issue after
issue was made tn reflect the aggressive
ness of the buying. The buying power is
without precedent, but the fury of the
movement must be its inevitable destruc-
zion.
Nothing exists by which to measure the
present movement. and every one is con-
yinCcd that a new chapter is bein added TO
financial history. As long prices will
advance there will be an enthusiastic ele-
ment willing to press the advantage.
Meanwhile there is curious seeking
after flaws in the movement, but thus far
without success. Contrary to precedent
the public Is not buying the high-priced
stocks at the top. The sO-called outside
demand reflects an adroitness superior to
that of the professionals. Profits are taken
in one stock or set of stocks before another
Is accumulated. Brokers are not asked to
finance purchases, the buyer dealing direct
~ with his own bank in many instances.
This accounts for the fact that brokers
are not borrowing up to their limit, and
that the aggregate of loans is nearly at the
associated banks record. Call money ruled
around 3la during the morning. and there
IS no concern on that score.
Gold is going to Europe. probably as
much ESbp.tED during the week hut
this outgo is credited to the new British
loan, and is not allowed to interfere in the
daily routine.
Atchison issues were features of the rail-
road list both making substantial gains
The common stock sold up to 1SI5 under
the influence of rumors that tomorrow !
dividend would be per cent. The com.
piny Is believed to he earning in the neigh
borhood of . per cent on the common
stock The preferred was advanced to
lpi. and the buying of it was for conserva-
tive. Semi-investment interests Rock
Island and Union Pacific were sold at one
time, and Atchison bought with the pro-
Ceeds of such sales.
Erie issues were taken up during the af-
ternoon and sold at top prices. The buying
OF the common stock was the feature OF
the demand and the belief prevails that
this property is To become a more impor-
tant factor in the Hill-Burlington plan than
has as yet been admitted.
Missouri Pacific was strong and Teyas
Pacific followed in its wake making a
record a fraction over 80
The NEUTRALITY-SUSPICIOUS. arrangement
which does away with the necessity for an
independent line 10 Pittsburg by the
FORMER. mad 10 effect on prices. New York
Central and allied roads were all strong
ana seemed to be feeling the effects of an
carry announcement Of important plans
Ci4I money was rushed up to s Der cent
In the last half hour and a slight reaction
followed.