The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-04-04
Tenn. COAL JUMPS
SEVEN POINTS
Union Pacific Moves Up Again
"A Very Strong Market
All Around

NEW YORK, April "a party in tho
speculation made its presence felt TODAY
VINO We're ready to proceed on the as
sumption that with the Anril monet, r,aT
ket settlements out of the wav there VS.
no reSon for any further restraint on ac
tive demand for stocks Some restrai,N+
nevertheless, made itself felt in the daV's
operations as was shown by the haitin@
and irregular manner of the price move
t tneIl ana by the moderate volume of the
transactions. The activity in the railroad
list was very largely concentrated i'm
few stocks, while the mass of securities
III that department were sluggish and al
most inert.
SpeciaIties Active
In the industrial department there was
manifest Il spirit of adventure which
wandered freely through the list, picking
sudden movements. The first animation
in the railroad list was awakened by re-
newed consideration of the topic of the
Northern Securities case. The report
was circulated early in the daV that fine
decision in this case was to be handed
down upon the reassembling of the court
al noon after the spring recess. Union
racine sprang into prominence, as had
been the case whenever this subject is ac-
lively discussed in the stock market
ihere was a renewed assumption that the
maj disposition of this case was the
event awaited for the putting into force
the long rumored project of a Union Pa
enc and New York Central combination.
In today's market large buying of the
Erie stocks was executed In such a way
as TO give the appearance of coming from
the same sources as the Union Pacific
and New York Central buying
The effect was a leap to the conclusion
that the Erie was to be included in the
supposed combination. The first report
from the supreme court after noon indi-
Gated stay, which might involve fur
Their indefinite delay, and prices in the
1 group had sharp setback. In the in
dustrlai department much was made in
general way of the high degree of ac-
tlVity in all trades and industries and the
prosperous conditions existing. But these
were supplemented by detailed reports
having specific bearing on many prop
critics. The Southern Iron stocks We're
again conspicuous in connection with the
merger reports. The United States Steel
stocks We're comparatively quiet Peo-
pies Gas moved in anticipation of the
outcome of the Chicago municipal election
nois state legislature, both being assigned
as motives for buying.
Twin City Rapid Strong
Twin City Rapid Transit was said to
be enjoying some new franchise adj
vantage. There were rumors of a divi-
dend increase in National Biscuit and re-
Gus competition with a rival. The New
York public utilities, on the contrary
suffered from the imminence OF a decision
on the constitutionality of the New York
franchise tax.
The most important restraining infu-
ence was found in the money market.
COlulllOnS tneIe ulQ not relax so COM
pletely as had been hoped by the specula-
tive element would occur after April /.
Sterling exchange also was We'll MAIN
| tanned, although discounts dropped in
| London, where the after effects of the
| quarterly settlement are always felt
| very promptly. The weekly statement of
| the Imperial Bank of Germany showed
| the extent of the quarterly settlements by
| the huge changes in it's principal items,
| cash on hand increasing So, 800 600 while
| the other securities were increased $65,-
| $685. 900 and the note for circulation was
expanded $50, 145, 900. The immediate flu
| ture OF our own money market is doubt
! less dependent on the rapidity with which
/ banks are readjusted. Reports of rail-
road traffic and of domestic conditions
| continued highly encouraging The stock
| market closed irregular and at top prices
| for very few stocks.
Bonds We're irregular. Total sales. par
| value. $3.50, 600. United States IS regu-
! lar advanced Is per cent on call.