The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-04-04
In THE STOCK MARKET.
The Day Was a Record.Market in
Several Respects.
PRICE MOVEMENT WIDE AND VARIED
Bulls Were Remarkably Aggressive and
Bought with a Lavish Hand, Bor-
derinp on ReckIessness.

New York April 3--Today was a record
maker in many particulars on the STOCK
exchange Tho extent and variety OF the
price movement has rarely. II over. been
cquaod In hull market, although inc
crumbling ~ prices in panic has oc'
casioualy caused as wide variations. An
ordinary standards fail IN tho computation
Of such market The forces In operation
were Titanic in their puNcr aud erect
The undertaking success Of the speculative
leaders In advancing prices made them hold
to u degree which " Is moderate to term
recklcssnrss They bought with an nnspnr-
ing hand through the stunning ara'nnrhe
of offerings which WIS hurcd upon them
on the advances and laylshed their re-
sources, apparently with an abiding ron
yciion that the astounding rise In prices
| now so long continued, was destined to go
! indefinitely further. Thai this spirit was
| stu rampant among large circle of the
| public was obvious from the large aud
/ eager following which WIS attracted by
amy show of strength AZ any point in the
| HIST.
II can not he said that news. in the or
| binary sense, had anything to do with the
extraordinary buoylncy Of the market, al
though rumors were plentiful and all en-
.
lstlc OF the market that the dealings were
heavily predominant In limited number Of
storks and that the general speculation was
declslvcly Influenced by the movement of
these.
TWO stocks stand ont conspcuously even
In ibis list, The price movement in which
was astonishing throughout These are
Delaware and Hudson aud Rock Island.
The former stock was the conspicuous lead.
cr OF the early rebound from the slight
opening depression Rumors were circuat-
ed that lease had been signed by which
the New York Central took control and
guaranteed a dividend of per cent for a
year and per cent annually afterwards
Tho stock was run M an extreme ~.
points 10 1904 Rock Island was undei
wHs forced ~ under last night. H. was
not until late In the day that II assumed
! the leadership Of the market, when It was
rushed M 10y rapid stages on the purchase
~ blocks oi thousands of shares to l5l, al
which point II closed at an extreme riS'
from the lowest of l3% points. II Is MOI
! that such u movement Is witnessed In =
stock of ar"c floating supply, II large
capital issue and the hoi .ingS al which an,
movements to those elsewhere, bott
amongst the grangers and the coalers. Th'
buying Of the grangcrs seemed to he hascC
largely on general considerations, the larg,
earnings of the group of railways even II
the face of last years spring wheat short
. age, being cited as giving assurance aGains
tho ordinary vcssltudcS Of the crops, t.
which they have been so sensitive In tn
past.
rhc movement resulted In an extreme al
vance of SA in Burlington, in ST. Pau
and Omaha preferred, Sh In Northwestern
Az In the preferred. 2Ta In st Paul an'
{ M In preferred. The rise In Lackawann
- was obviously In sympathy with that Il
!. Delaware and Hudson and extended to 6E
, Peoples Gas became very huoyant at IN
last and rose m extreme AK in sympath
| with Rock Island. There WIS an enormou
amount Of profit taking during the day an
| only A fcw stocks escaped without scrlou
inronds upon their best prices. the rcactlo
! | extending to as much as in Delaware an
| hudson and large amounts In other volatil
! stocks. There were Important stocks while
} showed no wide movement all day, some o
them closing at declines, This was notahl
true " the steel stocks which We're uude
/ pressure ali dav aud were much less active
! lv traded in The engagement OF nu add
tiouui $iOOOO0N In gold for export wa
! totally ignored The demands Of tn
- enormous succulatlon made no imprcssio
= upon the money market and the, addition.
purchases of government bonds ny the Sc
- rotary of the treasury kept opinion OF
timistlc over the money outlook.
Dealings in bonds were large. Total sale
par values, S3,6S5OOo.