The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-03-29
RECORD PRICE FOR \. ?.
TOUCHED 30 I-2, CLOSING AT o5
BID, ON SALES OF NEARLY
10000 SHARES
TALK OF BURLINGTON DEAL
Continues Unabated--Latter Also Adj
vancing-The- Market Yesterday,
Though Largely Professional,
Was Notably Firm.

W.
Bar silver, New York .5s5s 59A
Can money, New York -. 21z2& 2-5
NEW YORK. March, 2s-The stock
market continued highly professional to-
day and distinctly ewo4sided The out
side speculative public is still on1fhe side
of the bulls, and that element of the
speculation continued TO have the situa-
ton well in control. Any new point of
strength which they developed was pref
ty we'll assured of a response from the
keep the current market going. Selling
to take profits was Very large. and
was so sldHfully managed as to do little
damage to prices, but there was bear
element among the traders and they
made occasional denOnStra lions in the
market when the burden of the realizing
seemed in a way to overcome the adj
vance. The bear element, however. at
tracted little outside following, and their
operations were notGconducted with great
confidence. The most prominent position
in trading was still held by Northern
Pacific and Burlington, and the con-
stantly recurring strength of these
stocks made an effective support for the
whole market. In the same degree their
many reactions on profit taking affected
the speculative tone. Northern Pacific
opened under pressure. after having adj
xanced7 to- a record price of s51a, CLOSED
with a net gain of Ia. There were re-
neWed reports today of a plan 10 retire
Northern Pacific preferred, and reports
still persisted of an agreement for con-
lington.- The course of the steel stocks
upon the entry of the United States Steel
corporation stocks (when issued into the
unlisted department of the exchange,
was. strengthening influence Al
though there was a large selling to real
lze in these stocks, ample support was
Forthcoming, and the common was run
up some two points over Yesterdays
price on the curb, and the preferred
rather more than thar. The stocks of
the constituent companies were strong in
stocks all rising from to 2%. There
were other points of special strength,
such as Western UnionIi Manhattan, the
| Wheeling & Lake Erie stocks. showing
which mounted 9peiHtA to far. above the
highest preceding priee-Outside of these
individual stocks there were@sfeW~ that
rose at any time as, much as point
over last night, and many of the recently
prominent stocks were constantly held
back by pressure of realizing. Inc Rub
| days advance, the common losing 2is
and the preferred 44.vrT; In the last half
hour of the market 81. the decision OF
the New Jersey court 81 appeals in favor
of the plaintiffs in Che suit to enjoin the
absorption of the Gaggenheim interests,
the Smelling stocks broke violently, the
co1rmon falling to 61a ard the preferred
SO below last nights level. This help
ed to unsettle the close, which was also
affected by the, large npofit-t;<-ing sales
Discussion of the money market outlook
continues in view of the coming quar-
terly settlements. and the uninterrupted
drain by the subtreasury. Sterling ex-
change also recovered today, renewing
the apprehension of gold exports. The
large loan expansion of the bank II
England might, under ordinary circum-
stances De expected to be rapid after
the quarterly settlements have been met,
out the government is expected to come
forward with an offer of the new loan.
SO that nc relaxation Of tbs pressure, for
money is looked for in London in the
BUSINESS III Bonds continues large. and
new, points Of strength develop from
time to time. Total sales. par value.
500. geo. United States old Is; regis
tered, advanced 7s per cent on the last