The age-herald., 1901-04-10
STOCK MARKET HAD
 SMOOTH SAILING There Was Not a Sign of Ois-
 tress or Anxiety OPERATORS WERE SMOOTH There Was Very PaIpabIe ManipuIa- tion and Operations Were Care
 fully Organized to Support
 Market-Kecords Broken.
OPERATORS WERE SMOOTH

New York, April 9.-An astonishing amount of speculative sentiment was demonstrated by the action of the stock market today. There was not sign or the distress and acute anxiety under which the market labored all day yester- day.
 1t is the almost invariable result that such violent break in prices as that of yesterday brings in over night an ac- emulation of selling orders from alarmed holders of stock who wait for daily re- ports for their information on the stock market, but the opening this morning was quiet and unruffled with no impor- tant pressure to sell, and with many not able advances induced by the demand for the shorts to cover. Before the day was over the bull leaders had recovered their full control of the situation, and were marking up prices and attracting large following with all the facility which has characterize their operations for many weeks past.
 There was very palpable manipulation and there were carefully organized op- erations to support the market. Commis- sion houses which were prominent In bid-  large speculative interests all through the recent bull campaign were free tenders of money below the rate offered by the banks at the same time that they were buying stocks.
 The rumor of the Burlington deal was rehabilitated and had apparently not lcst any of its pasttime force altnough or f1cial confirmation was still conspicuousiy lacking. There was revived creduility In many rumors which already have done good service in buoying up prices The settlement of the internal dissensions or large corporations also had better ln- fiuence on the smaller ones Advances reached points in Burlington ROCK ls- land and Northwestern; Sh in Northern Pacific, in Texas and Pacific, in Chi cago and Eastern Illinois, 3k in Metropoi- itan, in Western Union, Consolidateu Gas 31a. Amalgamated copper 4, sugar 25s; United States Express 5u1a, Rubber AZ; preferred S1s; and the majority of the principal active stocks from 1 to points. Only in one or two cases were the gains fully maintained, reactions running from l to 2A, but the market was vigorously supported again and the close was lrres- ular Tho pressure of profit-taking was not notably heavy, even at the advance. Apparently the speculative holders or stocks were determined to hold for a further rise. but were forced into liquida- tion by calling of loans or by wiplng out of margins. There was much less calling of loans today than yesterday, and tnls called attention to several causes TOT market.
 Today's clearing house statement dis closed the enormous total of exchanges of $437, 1852 ,9S0 which is over s2,OoO,0oo In excess of the largest previous days re- cord in tho history of the clearing mouse, The general activity of the stock market yesterday had something to do with this, hut the settlement growing out of the clearances in the contracts to deliver the United States Steel stocks, when issued, was special factor. This 1nvolveu the adjustment of transactions in over 90O'Ooo shares. being the total of all the trans actions since these contracts to deilver had been dealt in. The preparation or the certificates of the United States Steel stocks made possible actual deliv- cries so that opertors whom the clear fngs showed to be long of the stock found themselves called upon yesterday Tor a settlement. The easier money in London today lessened the demand for exchange and the rate for sterling yielded frac- ton. The sub-treasury was a debtor at the clearing house today to the amount of 8, ,509 ,537 on account of the payment by the Post Office Department to railroads for the transportation of mails. Yester- day, heavy liquidation also caused some natural relief to the money market. There was not lacking suspicion that yesterday violent relapse was winked at if not connived at by sild-out bull lead CTS either to enab'e them to get in at low CT prices or to shake out weak follow ing and relieve the condition of over-spec- ulation.
 The bond market was moderately active and irregular. Total sales, par value, $3,- CS5, GOO. United States old As coupon ad- vanced A per cent on the last call.
 MANS vnrk Gtoek MarkAt