The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-05
ST. PAUL" FAVORED
TRADING IN RAILROAD STOCKS IN
NEW YORK SHOWS UNUSUAL
ACTIVITY
DEALINGS ON A LARGE SCALE
Rumors Pointing to u New ADJUST
ment of Control of TranscOnti-
mental Lines Believed to
Have Caused Boom.

NEW YORK, April 4.-Today's stock
market gave unmlstakable evidence of a
substantial recruiting of the speculative
element. The movement was a good deal
OF a mystery both as to its motive and as
to the identity of the operators. Stock
market gossip attributed it to the same
group or Western capitalists to which
many recent movements have been attrl-
buted and which has been supposed. TO be
concerned in the present large specula-
tive operations in the grain markets.
The days operations We're on lar
larger scale than anything in the recent
history of the stock market. The dealings
in st. Paul and Union Pacific were vivid
ly reminiscent of the days Of the boom
of last year. If the dealings in these
stocks are added to those in Louisville q
Nashville and in Southern Pacific it will
be found that considerably more than
one-third of the days aggregate trans
actions are accounted for. 1t was not
until late in the day in fact that much
impression was made upon other pOr
lions Of the list. Such stocks as the New
York public utilities, New York Central
and Pennsylvania were shot forward with
SpaSmodic advances.
In the final hour, selling to take profits
made heavy inroads upon prices and re-
duced all of the principal gains to frac-
uonal limits. The market closed dull but
steady.
No News to Justify DeniaIs.
There was no news to account for the
mors were plenty pointing to a fresh
REIMBURSEMENT of control in the transcon-
unentai railroad systems. Rather the
movement seemed based upon an assumo-
ton that the time of doubt and uncer-
talnty over the outcome of the year was
practically past, with the largest require
mentS upon the money market supposed
TO De met and with the crops assured of
a good condition after the winter to start
the season with To account for any such
total OF sales as those recorded IN the
principal active stocks today, allowance
must pc made for the sale and resale
many times of Identical holdings
The general reaction at the end of the
day also points to the tentative character
of the speculation. There was very active
reanZlng among many Of the SpeciaIties
recently advanced, cOnSpicuouSly Sugar
and Colorado Fuel. Neither was there
lacking the wide allowance in obscure
speclaIues which have recently charac-
ter1zed the market.
Banks Suffer Net Loss of Cash.
There was no change in the situation
OF the money market, except as indicated
by a loss of cash by the banks during
ury, which is offset by a gain on the in
terror movement Of less than 81 100000.
Inc nfmneSS of the sterling exchange and
the further decline in Paris rate of
sterling point to gold exports next week.
Inc local money market was quiet, how
ever, and the forecast of the bank state
nent made very little impression on the
stock market
Ihere was an active demand for bonds
Tor which there was a good open market
all day. Total sales, par value. S.. $50, 100
united States bonds were all unchang-
ed on the last call
Stocks.