The age-herald., 1901-04-24
THE STOCK MARKET CONTINUES ACTIVE High Record of Previous Day
 Not Disturbed RAILROADS IN DEMAND 1t Is Difficult to Assign a Reason for Early Strength or Late Weakness, as It Depended Little Upon
 News of the Day.
RAILROADS IN DEMAND

New York, April 23.-Today's stock mar ket presented even more variety than that of yesterday. although the high record of transactions established yesterday was not disturbed by today's business. Deal- ings were on a smaller scale than yester- day. In fact 1t was not until the urgent selling movement of the last hour had gained full headway that the market pre- scented anything like the animation which characterized 1t yesterday. Speculative sentiment ran over pretty much the whole list. the spirit being buoyant elation at times Though the market closed at net declines throughout, extending in some cases to or points, or even more, there was a time during the morning when the level of prices were materially higher than yesterday, and the market had the appearance of a full resumption of the bull speculation.
 The high-priced railroad stocks con tinued to be the principal subject in the speculation, especially St. Paul, Union Pacific and Southern Pacific. Atcnison preferred had a strong upward movement, and there were points of strength among the Southwesterns. Burlington and North- ern Pacific were strong and held better than the average of stocks in the late break. Among the specialties Amaisa- mated Copper recovered vigorously rom yesterdays depression, and United States Steel stock made show of strength TOT the first time in several days. These were the particular center of the strength early in the market.
 It would be somewhat difficult to assisn cause for the early strength or the late
 
 on news of the day. The motions or the traders were confined for the most part to fears or suspicious of what others were doing. Powerful support and violent ma nipulation were resorted to in tne eariy dealings, and the success of these meas ures in turning prices upwards causeu a sheavy covering movement among tue large short Interest, which was formed yesterday. There were indications during the morning that official statements re- gardng the Burlington deal would oe given out later in the day, and rumor was current that it would be found 10 pro vide an exchange of bonds to the value oI 1S0 per cent and a cash payment or sNV per share, together with a casn payhehe of s2 per share for the next dividend
 The report that the price of steel raiis was to be advanced to BPS per ton was the cause of the advance in Onlted otates Steel, although professional manlpuia.ioi,,, was much In evidence as IL was III aiA parts of the market The source or avail able supply of government bonds was not disclosed. Sterling exchange also yielded slightly under the offerings against the gold shipment. Probably its recovery later in the day was . large influence or restoring uneas1nes2 ,,
 The adjournment of the Burlington di- -ectors without offering official announce ment was a disappointment. The success of the bulls in getting prices up was oH- set by the very heavy offerings 10 req uze attracted by the advance. This was esnecially so in the United States Steel stocks owing to the suspicion prevalent In Wall street that heavy liquidation IS going on in these stocks on the part or former large interests in the individual companies absorbed by the combination and who are retiring. Bear selling aiso became very bold and extensive when the fptilitv of the bull efforts to sustain the market began to be seen. The closing was weak at the lowest and showed such violent declines from the top level as bls in Sugar. 4A, in St. Paul, A. in Brooklyn Transit, in Consolidated Gas, 41s Tn ROCK Island and l to 3 points in a long list or important stocks.
 The bond market was active and irreg- fular Total sales par value, $4Sio,ooO. limited States 3s coupon declined x per cent on the last call.
 New York Stock Market. p,, priva te Wire to Murphy & Co.