The age-herald., 1901-04-16
'INDUSTR|ALS IN
 THE STOCK MARKET Professional Operators Switch
 ed to Cats and Dogs. RAILROADS ARE DESERTED Some Very Buoyant Advances Were Effected in Many t. ene minor
 Stocks-There Was Some Very
 Fragrant Manipulation.
RAILROADS ARE DESERTED

New York, April 15.-It was plainly to be seen today that the influential assem- blaze of professional operators in stocks which has led the great bull market of this year throughout was making an ab- rupt shift from the high priced railroad stocks into the industrial stocks of all grades, down to many that are in the Stock Exchange category of "cats and dogs" Very buoyant advances were ef- fected in many of these and the unfail- ing following of outside spectators was which has quickly followed this leader ship for many weeks past contained it's docie response today. There was a very : fragrant manipulation in the case of many of these advances and in others there was a very large and apparently urgent de- mand which argued knowledge of coming favorable developments. A very noticea- ble feature of the market was that profit taking in the railroad list persisted throughout the buoyant rise among the specialties. Prices of the railroads were opened high and helped by some specula- tive demand for London account, the lat ter factor being especially notable in Southern Railway preferred. But the opening prices in the railroads or those made during the first hour proved to be the highest in very many cases Railroad stocks generally show net losses on the Jay although an effort was made to sup port them at the last moment, lifting some of them from the lowest. There were gains of four and half points in Met ropolitan Street Railway; 3A in Sugar; 71s in Chicago Terminal, 8 in the prefer red, and 1as in Colorado Fuel, and 4 in Tennessee Coal. Other gains of one to six points are accounted for by such stocks as International Pump, Texas and Pacific, National Lead, American Lin seed Oil, National Salt, preferred; Ameri- can Snuff, preferred; Glucose and New York Air Brake The only real notable advance in the railroad list was in the high priced coalers, Cleveland c. c. & St. L.. which rose As and Mexican National which lifted 21s on large buying. Bur lington was at one time carried 21s under Saturday and Rock Island two points. Call money did not rise above per cent today and eased off during the day.
 Speculative sentiment, however, is not free from misgivings over the future of the money market. It is to be borne in mind that the lending in New York for account of western banks which has been a feature for several days past is effect ed by drawing upon the New York de- posits of those banks. The result is to give the benefit of the higher interest rate to the western banks rather than to the New York banks, but it is simply transfer of account which does not af- ford relief to the money market. The high money rate here however, has checked the interior demand for cash and the rise in the New York exchange rate at Chicago to par suggests the inn minence of the return flow to New York. The unsettled London money market pending the budget statement in parlia- ment which is fixed for April IS and which is awaited for light on the amounts and terms of the new issue of consols is an influence upon money lenders in New York and in fact all other money cen ters Estimates of the amount of the loan vary from $250.000 eco to $500, 900, GOO. But in any event the likelihood is pre- sented of periodical monthly calls upon the London money market for the next twelve months for from Ho0O0,OOO to $l2,- BOO, ,000
 The bond market was strong, Mexican Central incomes being in notable demand and a large business transacted in Union Pacific convertible As. Total sales par value, ss,s9O OOO United States old As registered advanced %, and do coupon de- clined A per cent. on the last call
 New York Stock Market.
 px, privat te Wire to Murphy & Co,