Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1901-04-20

change and the estimate of the dealings
is necessarily approximate.
NEW YORK, April 10.
To-day's stock market was the most
remarkable which has yet been seen
during the present unprecedented spec
ulative era. Not only in the aggregate
sales Of stocks, which reached 2,195, 800
shares, but in the wide distribution and
variety of the trading, the amount and
the number of gains recorded, the rec
ord prices touched, the wilderness and
the general outside interest manifested
in the market and from almost any
point OF view, the market was entirely
without precedent in the history of
Wall street. The feverish one which
has been a feature of the market on
some of the heavy speculative days of
late and which was due to a state Of
nervous apprehension on the part of
the SPECTATORS for the rise, seemed to
be entirely lacking in to-day's market.
There was a steady and persistent up
list of prices which was as ire
ciotcOfC as uyQi duIlC VI CcSuIC. lit w
casional profit taking, which was large
ly by room traders. was licked up with
hardly more than a momentary influ-
ence on prices. Even the selling to
take profits in the last hour, which was
naturally very large after so consider
aDie a showing OF profits on the days
movement, stopped at about a point,
even in the most active and buoyant OF
the stocks, and the market surged up
ward again at the last, closing In a
buOyant and spectacular outburst such
as was perhaps never seen before.
In the last five minutes of the trad
ing the tape recorded such transactions
as 5000 shares OF Pennsylvania at 100,
while in Union Pacific there was a
string of transactions of 5000 shares
at 99B. 5000 shares at 100, 5000
shares at 99%, 5000 shares at 100, and
a final block of 10000 shares al 100,
the top price for the day and in the
history of the stock. These transac-
tons were exceptional, but there were
blocks of 1000 to 5000 shares of a
larger number of the most active stocks
changing hands all day. Only some
factors of universal application could
at all account Lor such general strength.
This was the marked relaxation in
the money market and the prospect of
a very strong bank statement to-mor-
row. OF course, this factor has only a
remote bearing on the value of prop
critics whose shares were in such <
demand to-day, but it furnishes the
sinews of war upon which the specula-
tors are dependent for carrying their
campaign. 1t has been shown a num-
Der of times recently that the cutting
of OF these sinews Is tue only thing
which will serve to repress the specula-
tive ardor which seems to have thor
oughly permeated the spirit of the
American people. With the replenish-
ment OF available resources to-day. the
speculation was revived In an unbridled
manner. There were few specific in
fluences to be detected in the trading.
The completion of the Burlington
deal, OF course, had a notable influence
upon sentiment, although Burlington.
Great Northern and Northern Pacific
held a comparatively ~inconspicuous
place in the trading. But the air was
thick with rumors of measures to be
taken by rival railroad systems to Off
set the Burlington deal. The move
ment in Union Pacific and in the At
chlsonS Was distinctly traceable to this
influence, added by supplementary ru-
mors or coming dividend increases.
The British export duty on coal was a
factor in the buoyant upiift of the sea-
board bituminous coal carriers. as it
aroused hopes of a large growth in our
export trade in coal.
The so-called Junior Vanderbilts
evidently moved in sympathy on the
superstition Of closer combination and
financial security with the parent New
iork Central system. The express
stocks moved upward in company on
the belief that closer association was
in view as the result of yesterdays
election as directors of the United
States express officials of other COM
panies. Belief in a merger of south
western railroads vas a potent factor
in that section of the market. The
buoyancy OF Amalgamated Copper was
accounted for by rumors of further alb
sorption by that company. Hopes of
dividend increases was a wide-reaching
factor. The smelling stocks were
strong on this expectation.
In a large number of stocks there
was not even an attempt to assign a
motive for the large buying, which
was palpably based on the all-embrac-
ing expectation that the price OF the
stock would go up because others had
done so. A very sharp contrast to
the general movmeent of the market
was the heaviness Of the U. s. Steel
stocks, the preferred falling at one
time nearly a point below last night
This was partly accounted for by the
circulation by the bears of a rumor
that j. P. Morgan was suffering from
heart trouble, but tae stocks did not
recover with the authoritative infor-
nation taat Mr.. Morgan was in good
health. This umo helped I o ecount
also for the midday dip in the market.
which was effectually overcome. The
strength OF the market was SO genera
that it Is only worth while to specify a
few of the more important net gains.
These were st. Paul, SIS. Baltimore &
emo, 5A; Union Pacific, 4; Amalga-
mated Copper, An; Rock Island. 3h;
Texas & Pacific. 81; Kansas & Texas,
3%; the Junior vaRderbilts from 2 to
1O11, the latter Canada Southern:
American Express. g. Wells Fargo, 5h
Pacific Coast common and second pre-
ferred. 5h and 8 respectively, and i