The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-20
RECORD DAY N STOCKS
ENORMOUS DEALINGS, COUPLED
WITH UNUSUALLY WIDE RANGE
OF SPECULATION
PRICES WERE MARKED VI
Spirit of Nervous Appreh nsion, Re-
Gently a. Feature In, the Street,
Conspicuous by Its
Absence
Bar silver, New York. ,.,,...... .591h {
Call money, New york;. >. .211ar4la

Ndu money, NEW .zr2-4L2 DO
NEW YORK. April Il. LToday,s stock
market was the most remarkable which
has yet been seen during the present
gate sales, which reached, 2, 193, 900 shares.
put in the wide distribution and variety
Of the trading, the amount and the num-
Der of gains recorded, the record prices
touched, the Wilderness of the general OUT
side interest manifested an the market
and from almost any point of view the
market was entirely without precedent
in the history of Wall street. The fe-
verish tone which has been a feature of
the market on some heavy speculative
days of late and which was due to a
state of nervous apprehension on the
part of the SPECTATORS for the rise,
seemed to be entirely lacking in today 8
market. There was steady and per-
sistent uplitt of prices, which was as
irres istible as hydraulic pressure. The
occasional profit-tak1ng, which was
largely by room traders, was licked up
with hardly more than momentary in
f1uence on prices. Even the selling TO
take profits in the last hour which was
naturally very large, after so considera-
BILE a show of profits on the days move
ment stopped at about a point even in
the most buoyant of the stocks, and the
market surged upward again at the last,
closing in a buoyant and spectacular
outburSt such as was perhaps never seen
before.
In the last five minutes of the trading
the tape recorded such tranSactirl1; as
$500 shares of Pennsylvania at 49, while
in Union Pacific there was a string of
transactions of 5000 shares at $685. 5000
shares at 100; 1900 shares at 997s; 5000
at 100, and final block of 10000 shares at
100, at the TOP price for the day, and In
actions were exceptional but there were
blocks of LOCO to 5000 shares of large
number of the most active stocks chang
ing hands all day. Only some factor
Of mi annIiCafiOn cOnf6 q a 40
count for such general strength. There
was the marked relaxation in the more
market, and the prospect Of very
strong bank statement tomorrow. or
bearing on the value of properties whose
shares were in such eager demand today,
but it furnished the sinews Of war upon
which the spectators are dependent for
carrying their campaign 1t has been
shown q number of times recently that
the cutting off of these stnews is the
only thing which will serve to repress the
speculative al dor which seems to have
thoroughly permeated the spirit Of the
American people. With the replenish-
ment of available resources today the
speculation was revived IN an unbridled
manner There were few specific infiu-
ences to be detected In the trading. The
completion of the Burlington deal Of
course had a notable influence on the
sentiment, although Burlington, Great
Northern and Northern Pacific held a
comparatively inconspicuous place in the
trading. But the air=Was thick with ru-
mors of measures to be taken by rival
railroad systems to offset the Burllng-
ton deal The movement in Union Pa
cifc and in the Atchfsons was distinctly
traceabIe to this influence, supplemented
by rumors Of coming dividends. The
British export duty or coal was a factor
in the buoyant uplift,of the sea60ard
bituminous coal carriers as it aroused
hopes of a large growth of our export
trade in coal. The so-called junior. Van
derbiltS evidently moved in sympathy on
the superstition of closer combination and
additional financial security with the
parent New York Central system. Ike
express stocks moved upwards IN com
pany on the belief that closer association
was in view as result OF yesterday s
election as directors of the United States
Express of officials of other companies.
Belief in the merger of the southwestern
railroads was a potent factor IN That sec
ton Of The market. The buoyancy OF
Amalgamated Copper was accounted Tor
by rUmors of further absorptlons by mat
company Hopes of dividend increases
was a wide-reaching factor. The smelt-
ing stocks were strong on this expecta-
ton In a large number of stocks there
was not even an attempt to assign a.
motive for the large buying, which was
palpably based on the all-embraclng ex-
recitation that the price Of the STOCK
would go up because others had done So
A very sharp contrast to the general
movement of the market was the heaVl-
ness of the United States Steel STOCKS,
the preferred falling at one time nearly
a point below last night. This was
partly accounted for by the circulation
by the bears that J. P. Morgan was sui
fering from heart trouble, but the stocks
did not recover with the authoritative ln>
formation that Mr.. Morgan was in good
health. This rumor helped to account
also for the midday dip in the market,
which was efTectuaIly overcome Inc
strength of the market was so general
that it is only worth while to specify d
few of the more important net gains.
These were: ST. Paul, 67s; Baltimore q
Ohio, Union Pacific, 312; Kansas q
Texas, 35s the Junior Vanderblits, IRON
to 1917, the latter Canada southern;
American Express, 5; Wells Fargo, o1s'
Pacific Coast common and secopo pro-
51b and respectively, and large num-
Der of other stocks from 2 to points.
Business in bonds was also very actiVe
and became generally strong as the Gay
progressed. Total sales, par value, 81,
200 600 United States refund1ng IS ue-
clined Is and the IS u per cent on the
last call.
STOCKS.
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