The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1901-04-12
PUBLIC EAGER TO BUY
Were Still Willing to Invest Wednes-
day--New Lenders In Money Mar
ket-Some Of Features.

New York, April 1.-THE specula-
tion for the advance was renewed ia
force Wednesday and the market re-
sumed much the same appearance as
II had during the excited speculation
of last week. London helped to this
result by some rather emphatic ad.
vances in the international stocks be-
fore the opening here. which were
perhaps incident to the fortnightly
settlement now in progress on the
London stock exchange.
1t was demonstrated that the pub.
lie is still willing and eager to buy
stocks, Notwithstanding the high
level Of prices measured by the earn
ing power, so long as prices continue
to go up. Large speculative pools,
therefore, found it worth while to sup
port prices and to advance the mar
ket, even in face Of heavy offerings,
owing to the large outside demand at
tracted by the advance in prices.
The appo arance Of new lenders in
the money market, including some OF
the spectators interested in the rise,
had served to again defer the exhaus-
tion Of money resources, but the rate
for call loans ran up above Mondays
high level to z per cent Wednesday.
under the requirement of the active
speculation and of some financial op
erations, including the payment of
another $l0,000,000. instalment on
subscriptions to the Union Pacific col
lateral bond issue. The slightly
firmer tone of sterling exchange ou
Wednesday morning, while the money
rate was lower, indicated that any re-
Taxation in the rate would lift sterl-
ing back to gold export point. Money
was-no higher in London Wednesday
but payment must be made today
there of an $1S,000,000 instalment on
the exchequer bond issue, and Fri.
day is the pay day for the stock ex-
change settlement. Some renewed
pressure for gold on New York is
therefore to be expected. Meantime
the sub.treasury continues to absorb
cash. and New York exchange at Chi
cago Wednesday fell to so cents dis.
count, marking the continued demand
OF the interior on New York for
money. The advance in the call loan
rate helped to precipitate a lively
realizing movement during the last
hour, which cut into prices all around
and made the closing easy. The Bur
lington deal and talk Of consolida.
tion Of copper interests with the
smelling interests looking to control
of the gold, silver and copper product
were the leading influences in the
days speculation, so far as it was due
to any specific influence at all. Bur
lington rose an extreme 81 to a new
record price at 1872, and Northern Pa.
cific came within small fraction of
par. The whole granger group was
affected by sympathy, and Northwest
preferred made a notable advance of
l5 points, while st. Paul and Omaha
rose points. Amalgamated Copper
gained 6 on very large dealings and
Anaconda AZ. Texas and Pacific was
largely bought at an advance of 2k
on talk of an exchange of two shares
of the stock for one of Missouri Pa.
cific. AS an outgrowth Of these move.
ments the southwesterns. grangers
and Eries were all strong and active.
The bond market was moderately
active and higher. Total sales, pa:
value. $3.755. 600
U. s. refunding 2s advanced IA and
the old As, registered and new As u
per cent on the last call