The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-04-04
GRANGER RAILROADS MAKE
SENSATIONAL ADVANCES.
BEARS IN A WILD SCRAMBLE
TO COVER.
90. --
Otherwise Wall Street Is Quiet, as
Usual, With Profit-Taking
in Several Lines.

New York, April 3.-The transcontinental
and granger railroad stocks developed sur
prising animation and buoyancy within a
lew minutes of to-day'S closing dealings in
stocks. and were rushed up in a sensa-
tloEil manner, which precipitated an eager
scramble amongst the bears to cover. thus
accentuatlng the rise. Previous to that
time the character of the market had been
much the same as that prevailing for a
long time. iIere was a rather notable de-
mand for ST. Paul.. but no greater than con-
sls'ent with the recent tactics of profess
slonal pools in supporting some one leading
stock for effect on the rest OF the market.
The general list continued neglected and
Irregular, with obvious profit-taking going
on IN some OF the stocks. which were
etronsest yesterday or in the immediate
past. The great mass OF securities made
no perceptible movement either way.
Vanderbilt in Upward Movement.
About midway of the session there was a
fairly comprehensive upward movement in
the Vanderbilt stocks, which seemed to be
prompted by the persistent strength of the
Chicago and Northwestern, and Chicago. St.
Paul, Minneapolis and Omaha stocks. The
most conspicuous movements were in stocks
OF minor railroad companies which might
pc available for absorption by larger sys-
TENS, or for combination into competitors
with the larger systems. There were new
points of strength also developed among
the small industries, which are usually lit
le heard OF In the stock market. in some
cases by reason of the closeness with which
they are held for investment purposes.
The demand for Hooking Valley continued
very large. carrying 1t up 6 points. the pre-
fsrred rising 81. Cleveland. Lorain and
and Ann Arbor preferred 4. These stocks
seemed to be influenced in sy-Althy. The
New York Dock stocks rose ~ut ) points
each. American Telephone and Telegraph
advanced 10lh on the reported large IN
crease in the instruments outstanding.
There was a long list Of gains running
IRON, a point or more. some of which were
simply recoveres from depression of yes
tercay. At the same time, Amalgamace1i
Copper. Colorado Fuel. United States Leath-
er preferred and the minor steel stocks
were rather acutely depressed by realizing
tales.
st. Paul Closes Near the Top.
OF its advance. 1t encountered blocks of Of
ferings, running up to 1000 shares, but rose
steadily through them all to 1895. The
stock closed practically at the top, with a
ern shot up ~ the preferred III, Chi
cago, St. Paul. Minneapolis and Omaha II
and the preferred 4. II was not until with
in fifteen minutes of the close that these
on the general market. At that time the
Pacifics and Southwesterns generally
spurted up from 1 to 2 points over last
night. The market closed very active and
not been notable outside of the stocks men,
toned, and some of the specialties contin-
ued to drop. There was 10 change in the
stDeral conditions affecting the speculative
situation.
The bond market was not very active. but
there was 4 well-distributed demand. Total
sales. par value. S.s20,0p United States
bonds were all unchanged on the last call.