The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-19
STOCKS GO Up IND DOWN
PROFESSIONAL MANIPULATION A
FEATURE OF YESTERDAYS
WALL STREET TRADING
LEADERS TAKE THEIR PROFITS
Plans of j. j.. Hin Were the Foun-
datiOn for the Days Biggest
Crop of Speculative
Rumors.


-A
NEW York. April aB-The promise OF
a good bank statement on Saturday and
the further relaxation lin the money! mar
ket which resulted were the main mo
tfves in the renewed speculative buyine
of stocks today. The movement of nI.;ceS
was exceedingly Irregular and profit-tak-
iIcg was on. very heavy sealey The re-
awakening of speculation was not achiev-
ed without aggressive leadership by the
professional element, who called to their
assistance all the arts of manipulation to
move prices upward SO as to afford tho
requisite attraction to the outside sDeciI-
1ative world. While they were deyelon-
ing. new points of strength, they or their
professional brethren, were actively sell
ing to take profits in the recently ~ex-
plotted stocks. The influence was still
manifest of a failure to- announce the
terms of the Burlington deal and also
OF the suggestion coming from ST Paul
that President J. j. Hill had sold out his
holdings of, Erie stocks at a especuIatiye
profit. and that no great transcontinen-
tai system was projected. The Erie
the grangers generally were affected by
these considerations early in the day.
The active proflt-taking in Amalgamated
Copper and in Sugar were also Influences
on the side of depression Sugar was
temporarily strong because Of the adj
vance in the price of the refined product
after the market had closed last night.
but sagged away in characteristic man
ner on the good news later in the day.
It's depression was emphasized bv the
heavy import duty levied on refined SUI
gar in the British budget. Amalgamated
Copper, on the other hand, had COM
plete recovery Of its loss in the late
dealings The most effective leaders of
the market were ,Atchisons and Union
Pacific. The dealings in both We're on
very heavy scale and a professional cam
pafgn for rise was clearly being con-
Quoted in both, The gossip to account
for the rise. was that5 Atchison was to
hrA Tllo
and that Pennsylvania interests were to
be represented in the directory as q re-
suit Of the alleged requirement of a Iarre
interest by Pennsylvania in the com
pany. In Union Pacific, it was said, that
the Southern Pacific collateral bonds
were to be redeemed, thus releasing the
Central Pacific stock and that Union Pa
cific was to cooperate with North West
mental system to offset the Burlington
deal. Atchison enjoyed an extreme ad-
vance OF 2@ as result of these maneu-
verS, and Union, Pacific was lifted 211
There were other advance among the
southwestern and Southern railroads,
which were largely sympathetic New
York Central, the Cleveland Cincinnati,
Southern and New Y ork, Chicago & St.
Louis advanced from 11s to 3% in com
pany, and PittsburgD Columbus, Cleve-
land & st, Louis rose AZ over last night
IN sympathy. The New York public uti!-
tiles had their period OF strength, as did
a number of other specialties. notably.
Colorado Fuel, Tennessee Coal>4cNeW
York Air Brake, Pacific Coast and United
States, Express, the latter ON the cleo
ton as directors OF officials Of other ex-
press companies: The gains IN TITS lot
of stocks ran from about to 10 points
H.iTe YT'elaxat ton in the money market had
the greater effect. since there was no
responsive hardening Of the sterling ex-
change The weekly. statement of the
Bank of England in fact makes it clear
TEr1f rsirSi,1
market there for the coming loan has al
ready commenced. Tue large increase in
the public deposits iaf 81, zoe, 900 reflects
heavy clearances of sugar and othes
goods in anticipation of the mex taxes
in the budget. Heavy disbursements of
public deposits will doubtless be an In
cident of the period preceding the loan
in order to ease the money market. The
budget speech was received too late In
Wall street to attract much attention,
but the decision for $500, coo loan which
is equal to the maximum estimates, is
bound to be a potent factor in the future
of the New York money market.
Dealings in bonds continued large and
the market was irregular. Total sales
par value, $4450, 900.
United States new is advanced n per
cent on the last call.
STOCKS.
Furnished by Charles H F. Smith &
Co, members OF the New York. Stock
Exchange. Pioneer Press building, who
have direct wires to- Chicago and New
York. Closing prices are bid:
& x % Closing.
Z