The daily morning journal and courier., 1901-03-30
Etnancial.
 HE STOCK M1IfKLI,
Another Day of Very Heavy Speculation.

another Day of Very Heavy Speculation.
 New York, March 29-There was an
 other day of very heavy speculation in
 the stock market to-day The individ-
 ual examples of notable strength serv-
 ed as an effective prop to the whole
 market and kept the bulllsh spirit in
 the ascendant, although profit taking
 was on an enormous scale all day. The
 realizing movement was not especially
 connected with any news of the day.
 Burlington and the United States Steel
 stocks were the most conspicuous feat
 ures in the market as was the case yesterday, and their strength had a de-
 clsive influence on the whole list. Bur
 llngton was, buoyant from the outset,
 mounting 4h points over last nights close in the opening transactions by successive stages of half points at
 time on an absorption of 15O0O shares. No authorized announcement was made Of the closing of the Northern Pacific Burlington deal, but the spectators &C., eepted the assertion that "the plan was ripe" There was furious speculation in the stock all day, which carried it up i through successive reactions to 175, With the close only a shade below that. The proft-taking in Northern Pacific was very heavy, carrying the stock down 1R from the top level and closing at only small rally, with a net loss of a quarter.
 The volume of dealings in the United States Steel stocks was contemplated with delight by the commission brokers as an earnest of the possibilities of an active speculation in a stock compris- ing capital of S,5OO.OOO shares. The days business in the common stocks amounted to 159,OOO shares and in the preferred to 100000 shares, or for both IT per cent. of the total transactions. The common stock was lifted at one time 1$, to 46, and the preferred 1A, to 96. The offerings brought out at this level were enormous, and apparently the supporters of the stock were satis fled to maintain them at about that lev el. There was a notable demand for high grade investment stocks and for some others on which the dividend re- turn is still at a high rate. In this class Northwestern was lifted 51s, St. Paul and Omaha 8, Lackawanna g, Del aware and Hudson 6%, New York Gen. tral ex-dividend, Illinois Central 2M and Western Union 31s. There were various other points of strength, includ- ing the Readings, the New York public utilities, the Smelling stocks on re- bound from yesterdays depression Peo- ! Pies Gas and other stocks, including the grangers. The Fries, the Wheeling and Lake Fries and the Southwestern group showed the effects of the realiz- ing. Sugar was also under pressure.
 The fact that nc engagements of gold were made for to- morrows steamer was regarded as a favorable factor, although i the sterling exchange market was called 1 firm at slightly lower level in sympa- thy with somewhat easier discounts in London. The promise of an unfavora- ble bank statement was ignored as call l loan rates did not rise above per cent. I and were offered down to per cent. at the close, loans carrying over until Monday. The view was taken that with { arrangements completed for the accu- mutation of quarterly requirements { their disbursement on Monday would promise easier money conditions.
 There was less activity In the bond f market to-day and the price movement i was irregular. Total sales par value $3 S95, coo.
 | United States new fours advanced A per cent. on the last call.