The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1902-04-20
SPECIAL STOCKS
UNDER MANIPULATION.
This Sustaining Influence Caused a
Broad and Active Speculation in All
Parts OF the List.

New York April 19.--The policy which
has been consistently followed during the
present speculative campaign of large buy.
Ing and bidding up some one prominent
stock as an effective leader OF the whole
market was maintained today with Union
Pacific as n favored stock No new consid.
GRAFTON was advanced as a reason for the
buying which carried the price MP to 1914.
where it closed at net gain OF 29s. Under
cover OF this sustaining influence there
was n broad and active speculation in ali
parts OF the list. The movement was nc.
cordlngly irregular, ms the taking Of profits
side by side with new buying was In a
way Characteristic Of an active speculation
Many special stocks were under manipua-
tion by separate pools and some NJ the
Industrial specialtics made sensational
movements. International Power touched
16S and iuctuated very feycrishly Chi
cago, Indianapolis and Louisville was er.
ratio over a range Of more than three points
below last aight. Canadian Pacific was
very strong General Electric was de-
pressed by the strike In the company's
works ana sugar showed the effect Of the
vote In the house OF representatives to
rcscind the dlfrerentlal duty on the re-
hned article. Amalgamated Copper found
N.
Snuff. Kansas City Southern preferred and
Minneapolis and st. Louis made uuex-
planned advances. The loan contraction by
the banks shows that the resources for
the weeks speculation have been secured
from other sources, presumably the trust
companies and the foreign money markets.
\ >
The important developments this week
in the stock market have caused great an
imation and a feverish tone The actual
accomplishments have given rise to the
usual Hood Of surmises Of other projects
In formations far advanced toward frultion,
and the group Of Western millianaires
whose operations started the present move
mcnt have maintained an aggressive lead
ership Of the market The result has been
Il progressive growth I'm speculative fol
lowing, and broadening of the field Of
activity
The example Of the successful lifting ~
prices by the leaders has encouraged
friends OF many other stocks to take them
In hand and work up a ready market for
them, which has afforded growing oppor-
tunity for operations Of professional
Judged by the expressed opinion of COM
mission houses the growth Of interest Of
what Wall street calls 1.-THE general pub
lie meaning the widely scattered inter
est which deals on a small scale through
tho medium Of malls and telegraph. and
whose dealings In the aggregate made the
phcnomenal market Of last year, has been
moderate.
The present market seems TO be one or
millionaires who deal IN lines OF hundreds
Of thousands ot shares. The party which
leads the market Is undoubtedly made m
Of milionalrca who deal In concert or IN
pool There seems to be- ample ground
for the Suppoeitlou that the passage Of
control Of Louisville aud Nashville which
wns the feature ~ the week, was an ac-
| cldent rather than the object of these
| speculative operations
The passage Of control Of n great rnilway
! desire of centralized interest which has
| dominated the property is calculated TO
| create degree OF confusion, disturbance