The times., 1901-04-03
IRRBGULARITY IN STOCKS
Early Extreme Weakness Fol
lowed by Fair Bec0veries,

Money Conditions Attract Attention
i'm the Market - Eeaiiziu@ sales
Heuvy - Burlington and Northern
Pacific Buoyant-Thc steel shares.
NEW YORK. April "A number OF cir
cumstauccs were generally cited today
in connection with the exceedingly ir-
regular tendency of the dealings IN the
stock market. Among them was "A slight
furry IN the money market at the close
Of business Yesterday which was taken
TO preeaee more active conditions there.
At the same time hardening money mar
kot conditions are commonly looked for
around the first Of the month and par
ticularly at periods when bank reserves
are comparatively low.
IN view OF the tremendous exchanges
made at the banks clearing house settle
ment today 1t is little short of amazing
that the furry in money was not more
pronounced than it was. Discussion re
carding the probabilities Of the money
market was again active today, although
the actual conditions there were somewhat
easier out of town banks in particular
offered large an1 guts OF money on time
and were not disposed to be oNer-dis-
eliminating in the matter of collateral
The bulk Of the borrowing on call today
was effected around per cent.
In addition TO the monetary situation
other matters which engaged attention
were the approaching departure for Eu-
rope Of the most conspicuous figure in
the financial world, and good deal Of
decidedly premature discussion in regard
to the prospects for the corn crop. Inc
latter was superhcially responsible for
nc ora q rlg
stocks. which after the opening We're
under material pressure.
shortly after midday. however, there
was decided recovery in this group, fol-
lowing upon an exceedingly rapid ad-
vance I'm Burlington and Quincy. The
public at large was again without any
definite information respecting the status
of the rumored Northern Pacihc-Burling-
ton and Quincy deal.
Notably firm features Of the railway hSI
throughout were Missouri Pacific, Texas
Pacific. and St. Louis and Southwestern.
The strength Of these stocks was appaf-
emily based on current ideas in respect
of the anna lgamation of the Gould rall-
way properties The movements else
where ia the railway list were uncer-
tain and generally limited.
Profit realizing sales were immense in
volume IN every lAAIltt VI tlAt ma ~ -
The uncertain character Of the price
movements initiated against active deal
fnps by commission houses and there was
q falling away in the volume of business
london furnished a lower range Of prices
for American stocks and sold moderately
here throughout the forenoon session.
ONLY a few statements Of railway traffic
were submitted. and there was other
wise q virtual absence of news bearing
on particular stocks
There We're again exceedingly large
dealings IN the United States Steel Cor
poration stocks. which moved in line with
The remainder Of the market. II was re-
ported that application had been mace 10
list the new securities on the stock eN-
change.
very heavy dealings were conducted
in tho local traction group, which was
sharp advance showing i'm Manhattan
Railway The particularly persistent ru-
mors that the control Of the elevated lines
was likely To pass 70 another corporation
were naturally TO be heard again today.
and Irrespective of their verify. they
were beyond doubt Instrumental in the
course OF the traction stocks
There were also some exceptionally eX-
tensive movements among the speciaities.
Colorado Fuel and iron scored sensa-
tionsl rise. and there We're wide huctua-
tions in Tennessee Coal nd Iron. Pacific
Mail and ANA lgamatcd Copper Were also
much stronger than they have been for
4 number Of days. Western Union. on
the other hand. was reacJiouary. as 10
q lesser extent was Consolidated Gas.