The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1901-04-04
THE MARKETS.
Wall Street Review.

New York. April 3--Toflay was a record day in
many points on the New York Stock exchange.
The extent and variety Of the price movement.
have rarely ii ever, been Cquac1 in bull
market although the crumbling of prices III Il
panic has occasionally caused wide variations.
The undertaking success OF the speculative lead
ers in advancing prices made them bold TO dc.
gree which il is moderate TO term rccklessncs'.
They bought with an uispaiing hand through tue
stunning avalanche OF offerings which was hurled
upon them upon the advances and laviScd their
resources apparently with an abiding conviction
that the astounding rise in prices, now so long
continued destined to go indefinitely iIrthcr.
il cannot be said that news in tie ortlinirv sense
had anything to do with the extraordinary buoy.
ancy OF the market although r,nnors were p!ent-
full and all embracing. 1t was also a marked
characteristics Of the market that the DEALINGS
were heavily predominant in limited number OF
stocks and that the general speculation was de-
cisirely influenced by the movement OF these.
Two stocks stand out conspicuously cvcn in
the list the price movement in which was aston
ishing throughout These Delaware and
Hudson and Rock Island. The former stoci, was
the slight opening depression. Runors were civ.
culatel that lease had been signed by which
the New York Central took control and guar
nntccd n dividend OF per cent. for "A year and
per cent. annually afterwards. The stock was
run up an extreme 1875 points to 1859, Rock
Island was under rather severe pressure at the
opening and was forced lia under last nights
prize. II was not until late in the day that il
assumed the leadership of TIL" market when it
was rushed up by rapid stages on the purchase
of blocks OF thousands of shares TO Isl, at which
point IL closed an extreme rise from the lowest OF
l"ai points IT, Is not often in the history OF
stock markets that such movement is witnessed
in = stock OF large floating supply, large
capital issue and the holdings of which are wide
ly distributed. There were kindred movements to
these elsewhere, both amongst the Changers
and the Coalrrs, The buying oi Changers seemed
In bc based largely on general favorable consul
eratlons, large earning power o that group OF rail.
road even in iacc ri last years spring wheat
shortage being cited as giving assurance against
the ordinary viciSsitudcs of the crops TO which
they have been sensitive in the past, The
movement resulted III IN extreme advance Of
SIS in Burlington, in st. Paul and Omaha, in
the preferred, SI in Northwestern, iai in the
preferred, .Is in st. Paul and 81: in the pre-
in sympathy with that in Delaware and Hudson
and extended to 6ia, Peoples Gas became very
bnoyan tat the last and rose an extreme as IN
company with Rock island. Missouri Pacific was
up 3h and Illinois Central pa, There was an
enormous amount Of profit taking during the day
and only few stocks escaped without serious
inoads upon their best prices, the reaction en-
tending TO AS much as in Delaware and llud.
son and large amounts IN other volatile stocks.
There were some important stocks which showed
no wide movement all day. some Of them clos
ing at declines. This was notably true of the
steel stocks which were under pressure all day
and were much less actively traded in. Total
sales today, l,s76,0oO shares Dealing in bonds
were large and the market irregular. Total
sales, par value, si,Isj,GGO United States new
IS advanced 4 and old is coupon declined Il per
cent. on the last call.