The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-04-05
STOCKS AND BONDS.

STOCKS AND BONDS.
New York. April To-day was one of
violent excitement and extreme nervous
tension in the stock market. Prices
luctuated in an unprecedentedly violent
and erratic manner all day. The specula-
tive spirit had apparently run wild, and
no feat seemed too great to attempt in
the feverish imagination of the excited
spectators. The boldness and rashness
of the manipulation have probably never
been equalled on the New York Stock
Exchange. Blocks of thousands of shares
of stocks were tossed backward and for
ward and millions of dollars were ven
tured with no more concern than though
pennies were being pitched News or
actual conditions of properties played no
part whatever in the speculation. The
method of operations was largely to fol-
low designated leadership. A sudden and
violent advance in any stock was suffi-
cient to attract an overwhelming follow
ing in which the scramble to buy caused
a volatile rise, with quick profits for the
leaders, who fastened to unload Monday
seemed a remote period in the view of
the spectators and their operations did
not appear to be designed to go beyond
admirable one in which to unload stock,
and it is within reason to suppose that
the excitement was stimulated by every
possible artful device to further this OBJ
ject. How far it was taken advantage of
may be inferred from the comparatively
small number of stocks which retain any
important net gains, in spite of the APP
pearance of extreme buoyancy which the
hoI For Of ho
trunk line stocks, Illinois Central, Anal
gamated Copper, Colorado Fuel and Iron
and some of the dormant investment
stocks may be set apart. although none
of them closed near the highest prices
Otherwise small gains or considerable
losses will be found to be the rule. The
precipitate manner in which long stock
was unloaded on the opening bulge showed
the eagerness of the bulls to take their
profits. The violent manner in which
prices broke showed that point in the
matter of price was of little account in
consideration of making quick sale. The
outside speculative public were outside
buyers at the opening, attracted by yes
terday's extraordinary advances, and the
execution of their orders, which were APP
parently without limit as to price, caused
an ebullient opening. Profit taking met
the advance Immediately. When the first
storm of liquidation had spent itself, eff
forts were made to revive the speculative
enthusiasm by bidding up new stocks. The
attempt met with considerable success,
although profit taking continued heavy
under cover of the late advance in the
trunk lines and Amalgamated Copper.
The markets sensitive spot was clearly
indicated by it's action under the influ
ence of the furry in call money to above
six per cent. Some stocks touched the
lowest level of the day in the spasm of
liquidation thus forced. When the money
rate fell back, covering by shorts caused
some violent recoveries but The closing
was exceedingly feversh and irregular.
The large demands of the interior for
cash and the prospect Of weak bank
statement explained the furry. Space
forbids an extended enumeration of the
price changes. 1t is sufficient to specify
the extreme advances of SIS in New York
Central, in Pennsylvania, Az in Rock
Island, 85s in Amalgamated Copper, ga
in Illinois Central, liz in Colorado Fuel
and Iron 10 Is in the Colorado Fuel and
Iron preferred and one to four points in
an extended list.
Business in bonds was not so large rel
atively as in stocks and the movement
of prices was irregular Total sales (par
value) $2,70S,0O0
United States old As, coupons, adj
vanced Il per cent on the last call.
The total sales of stocks today were
1,914 900 shares, including the following:
Atchison, 80 400; Atchison preferred, 25
800; Baltimore and Ohio 33 800; Canada
Southern, 500; Chesapeake and Ohio,
II, 500; Chicago, Burlington and Quincy,
100000 Chicago and Northwestern $500;
Chicago, Rock Island and Pacific, 143, 100;
Chicago, Columbus, Cincinnati, and St.
Louis, $500; Delaware and Hudson, H.
500; Denver and Rio Grande, $500; Erie
1900; Erie first preferred, 10000; Hook
ing Coal, $500; Louisville and Nashville,
SO, 100; Manhattan Elevated, 34,400 Met
ropolitan Street Railway, 81 200; Missouri
Pacific, $4,000; Missouri, Kansas and
Texas preferred, 5,400; New York Cen
trail, $4,000; Norfolk and Western, $780,
Northern Pacific, 1900; Northern Pacific
preferred, 10000; New York, Ontario and
western. 0600; Pennsylvania Railroad,
109, 500; Philadelphia and Reading, 10,S00;
Philadelphia and Reading first preferred,
&c, 200; Philadelphia and Reading second
preferred. 81, 400; ST. Louis and San Fran
cisco, 1000; 81. Louis SOUTHWESTERN, o,VVV'
St Louis Southwestern preferred, $500;
Chicago, Milwaukee and st. Paul, los, 400;
Southern Pacific, Is, 400; Southern Rail-
way, $500; Southern Railway preferred,
$500; Texas and Pacific, 23,70O Union
Pacific. Al, 400; Union Pacific preferred, g.
400; Wabash preferred, $500; Baltimore
and Ohio preferred. $500 National Tube
1900; Amalgamated Copper, 19S,2O0;
American Smelling and Refining, 2170O;
American Tobacco, 10000; Anaconda Min
ing, $780, Brooklyn Rapid Transit, 80,
| 400 Colorado Fuel and Iron, $4,000; Con-
tinental Tobacco, 1900; Peoples Gas
Light and Coke Company. $4,000; Pressed
Steel Car preferred, 800; American Su-
1 gar Refining, 34,200; Tennessee Coal and
| Iron, 10000; United States Rubber, $500;
Western Union Telegraph, 5000; United