The daily morning journal and courier., 1901-03-28
Etmanlial.
----------------------------
 THE STOCK M.I R x EFT.
Movement Yesterday Confusing nnd
 Irregular.


 New York March 27.-The move
 ment of to-days stock market was con
 f,lsing and irregular to the last degree
 The dealings were highly professional
 and there seemed to be contest wag- ing between a bull following and bear | following. each side commanding the
 services of some of the oldest and most
 sl1ilful professional operators in the street Such was the current belief
 among room traders and the outside
 speculative contingent. A market of
 such character is distinguished by
 skillful ruses employed by the operators
 For instance, experience shows that l nothing will cause such eager support
 by large buying orders for the account
 of the friends of a certain stock as the
 knowledge of a bear raid against 1t. The
 action of to-day's market gave rise to the suspicion that some large operators long of stocks were using well known bear brokers to sell out and realize profits in order to give the impression that the selling was for short account. The market opened with the influence of last nights upward rush still mani fest But the selling to take profits
 caused a decline to set in almost imnle-
 dately. which forced prices very gener- ally below last nights level. In Bur lington and Northern Pacific the profit taking was especially heavy, owing to the meagre details which accompanied 4l oil a
 been reached for the absorption of Bur lington by the Hill Morgan interests in the northwest The announcement of an export of gold to France also had a depressing influence. The announcement
 is generally felt to be the prelude to a regular outward movement of gold. Bankers Nprofessed to have no fears that such a movement would affect the money market unfavorably. The feel ing of depression was practically over- come during the first hour and during thethe rest of the day there was suc- cesslon of advances of different stocks, each development of new strength causing but slight response in the general market and being invariably succeeded by a realizing movement which carried prices back all the way from a fraction to 2 points. Practical ly each hour during the day had it's pulsation of this sort. Burlington and Northern Pacific were conspicuous in the recovery and both made new rec ord prices The extreme rise in North ern Pacific was points and in Burling- ton 2B. The belief that the coal min ers strike would be averted affected the dealers, and the Morgan stocks general ly moved in sympathy. In this move- ment the Fries, the Readings and the Southern Railway stocks all moved strongly upwards. The movement in Burlington affected the other grangers by sympathy. Missouri Pacific rose to q new high level on the very favorable statement of January net earnings and the southwes terms were generally strong n the belief in the approaching merger, the Colorado members of the group being conspicuous. The Atehisons were also affected on reports of an early division on the common. The re- sulting gains exceeded points in many cases and reached as high as 4 points. Among the specialties Sugar. General Electric, Colorado Guel and the Rubber stocks were conspicuous, Rub- Der preferred rising 71a Union Pacific was heavy throughout. although it re- covered sharply from the lowest The