The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-26
STOCKS SHOW S|RElG|H
WHICH WAS A FEAT
URE OF WEDNESDAYS TRAD
ING, ABSENT YESTERDAY
TALK OF BURLINGTON DEAL
Rumcrcd Consolidation with North
ern Pacific and, Great North
ern Helped the Market
Materially.


NEW YORK April 25.-Speculative SEN
tlment showed decided Improvement
today over that which prevailed vester-
day, although the movement of prices
continued very Irregular and at times
erratic. The heavy Speculative liquida-
and on previous days of the week re-
GeYing over congestion of the specula-
tive holdings, doubtless had a great deal
to do with the better tone of the mar
ket. The sustained strength of Union
Pacific, even after yesterdays rernark1-
BE squirt, and a disposition to take more
account of the many Fumors of actual
developments concerning the pronartv
relieved the feeling of uneasiness over
yesterdays extraordinary transactions in
that stock which in themselves led to
some LIQUIDATION owing to the suspicion
aroused that they were designed to cover
heavy profit-taking in other Quarters of
the list. There were further develop
nlents of strength today as a. supple
ment to the Union Pacific movement and
the strength of the market was more
generally dinuSed than at any previous
time this week. The manner In which
the market received the formal an
nouncement of the terms of the BurIing-
ton merger had an encouraging effect
on sentiment. There was little effect on
Burlington itself, which moved narrow
ly by comparison with other stocks, but
was very firm all Gay. Considering the
long continued and large advance which
the stock has had since this transaction
first began to be discussed and it's wide
spread influence in causing other adj
vances in practically the whole market
the flrmness of the stock at the highest
level in it's history was SURPRISING One
of the favorite maXims with Wall street
traders is to sell on good news. Bur
Hngtons quiet firmneSs on the confirma-
ton Of it's good news argued small hold
ingS CT purely speculative character
awaiting realization. The sentimental ef-
feet was very marked, owing to the
warnings which have been coming from
influential commission houses for some
time, past that transportation threaten
stock market For the first time this
week the bears refrained from their final
attack on the market and there was not
the flood of realizing orders which have
been a feature of the last hour of each
previous day this week. The fact that
the buying demand was considerably re-
. Taxed did not seem to encourage the
bears to any aggressive efforts although
there was a distinct ebb of prices in the
final hour on profft-tal1ing for the day
and final prices were considerably below
the best, except in "a few cases. The
most conspicuous movements of the day
were distinctly the outgroWth of the cur
rent conviction that the pcrfecting of
the Burlington deal will be followed by
similar arrangements on the part OF 9TH
er railroad systems as an offset. Tho
grangers, Pacitics and Southwesterns
therefore played a prominent part in tho
trading. The marked strength of some
ed to be associated with the movement
OF the Western lines Thus the stock
market gossip attributes the large buy
ing of AtchtSon to a design on the part
OF the Pennsylvania to control a Pacific
outlet. Baltimore & Ohio, as a subsid-
larry company. was even more acutely
affected than Pennsylvania The rise in
Atchison extended .te~415 in the pre-
ferred to s, in Baltimore & Ohio to 81
and in Pennsylvania to+24. The advance
in Northern Pacific was resumed after
lengthy period of comparative quiet ap-
parentIy on the theory that it was enti-
tied to a rise with Union Pacific. Union
Pacific itself was at one time 2A over
last night and twice receded below last
night, closing with a net gain of only a
fraction. The strength of Southern Pa
cific was due to the supposition that 1t
crue to Union Pacific The Official de-
malls which were given out Of many of
the rumors. Of yesterday and today were
without the slightest effect on the mar
ket. Special strength was shown by the
Chicago Terminal Transfer and Colorado
without news to. explain 1t. Smelling
broke AZ on the announcement Of an
other injunction against the stock issue
prosposed to take up the Guggenheim
interests. The stock rallied 2h. The
ease of call money precIuded any anx-
iety over the money market.
The large buying of Union Pacific con-
vertible bonds continued and the mar
ket generally was strong Total sales
par value, S,105,000 United States re-
funding Is declined B and the IS regis
tered Il per cent on the last call.
STOCK QUOTATIONS.
Furnished by Charles II. r. Smith &
Co, members Of the New York Stock