The Saint Paul globe., 1901-03-19
Ear silver, New York 81 coz
Call money, New York ,....... 2A-3 49,.

Call money, New York ,....... 2A-3 ....
NEW YORK, March 18--The course of
events in last weeks stock market led
up to today's, excitement on the stock
exchange. The powerful professional
SPECTATORS who had been manipulating
of their reward in the growing outside
interest in the market. The relief af-
ferded by Saturday s bank statement
gave pretty good assurance of an ILL
creased demand for stocks this morning
The public appetite was whetted by sew
eral announcements. which either came
very oppcrtuneiy for the purpose or
S Mere aa9at t with Y view s,t& to their effect
professional bulls have had to contend
with was the dra gging tendency of the
steel stocks under the apprehension that
the new United States steel corporation
stocks are introduced on the stock ex-
change they may prove weak and have
an unsettling influence on the general
market. The report that the Rockefel-
Ter iron interests in the Lake Superior
region were to be included in the steel
merger therefore proved very opportune
for the bulls, and awakened the steel
stocks from their dormant state into
strength and activity. 1t was very diff
icut to secure any authoritative confir-
nation Of the transaction and no details
were vouchsafed of the terms, or wheth-
er any increase in the proposed capital
issue of the United States steel corpora
tion was involved. The stock of that
corporation was active and buoyant in
the curb market, in sympathy with the
movement In the order stock on the ex-
change. There was a continuance of the
excited speculation in Burlington on the
publication of circumstantiaI assertions
that President j. j. Hill, of the Great
Northern, had secured control of the
Burlington Burlington insiders were in
clined to deprecate these assertions Civ
ing color to the belief that competitive
buying for control was going on. 1t was
Central had secured control of the Man
haitian and would guarantee a dividend
of 6 per cent. This statement received
an emphatic denial from the president
Of the New York Central Ii Wi Fc
seen that these ainfiaences form the
framework of thea days very animated
and buoyant market. q Other movements
We're either directly ~elated to these or
were under their indirect influence.
Thus the belief that Burlington had
been substituted f9r. st Paul in the pro-
posed adjustment IF Northwestern rail-
road affairs reyiYed the corelatNe be-
lief that Erie waste be included in the
programme. Hence the strong recovery
in these stocks afterdtheir early weak
ness in sympathy With3the ether coalers
General Electric's advance was an out
growth of the supbOsitior that new con-
troll of Manhattan would hasten is
electrical equipment.l6,Fhe rise in the
other grangers was palpably in syInpa-
thy with Burlington. St. Paul alcne
hanging back. Missouri Pacific seemed
to be marked up in an endeavor to re-
vive the strength of the SouthWesterns,
but the maneuver proved without effect.
A number of specialties moved inde-
pefodently including Sugar, Tobacco,
Consolidated Gas, Peoples Gas and
American Snuff. New York, Chicago &
ferred, Lake Erie S5 Western, preferred
and Louisville e Nashville We're all con-
spicuously strong. The weakness of the
eeoalers Twassdae to- Fears of the miners
Sty ilxea
on profit-taking on the declaration of
stock subscription rights. The gain III
the principal Steel stocks extended from
2 to 5 points, and they held better than
certificates for the stock deposited in as
sent to the plan of merger, and the prices
of 2 these : IN u soTaeE~ cases; Varied
over a point both above and below those
of the stocks There was no explanation
of this discrepancy, ~ There. was some
evidence of short interest in the steel
stocks and the. progress of the transfer
for stocks in the new. corporation makes
the present stock scarce for delivery.
Burlington's extreme rise was 4$4 Man
hattan{s 41b, and a large number. of the
other most prominent stocks from to o.
esNCTth- Western preferred jumped {l.y The
reactions at times, but the undestone
continued strong to the close, although
last prices Of many stocks were notably
beloW the best.
tive, but was reacti6nary in spots on
profit taking. Total sales, par value,
81. 235, 600
United States refuniding Is advanced 1s
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 9are bid: