The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-04-14
STRONG MARKET
FOR ALL STOCKS
Union Pacific Leading Rails
and Tennessee Coal the
lndustriais

NEW YORK, April 1S.-At any time To-
cay the stock market would have been
pronounced prom spotty and Irregular and it is
only by survey of the days trading as
whole that the amount of Streneth mani
tested Is properly discerned. This is be
cause OF the system of rotation employed
by the active operators in conducting their
transactions, the demand shifting con
Stantly from one to another stock and
from one portion of the list to another.
While picked stocks We're advancing the
general list was either held back or forced
downward by the pressure of the profit
taking sales, which went hand in hand
not until late in the day that any clearly
defined tendency developed in the market.
Disappointment Felt
In the early dealings there was consid-
cradle disappointment caused to the pro-
fesslonal element by the halt in the ad-
buoyant outburSt at the closing last night
United States Steel preferred Union pa
enc and Amalgamated Copper We're no
t tS examples. IT was Characteristic of
the market also that after advances had
proceeded for a time the stock thus affect
eu would come to a pause While others
were brought forward. This process kept
the traders constantly confused in at
tempting to follow different movements
or 10 determine the general trend of the
market. The confusion of mind led to a
suspicion of the market which was quite
Stubbornly held, in spite of the gradual
spread of strength through different por-
lions or the list
In the late trading stocks which had
peen conspicuous laggards early in the day
were taken up in their turn and advanced
IN conSonance with the movements else
where. The resumption of the aggressive
advance IN Union Pacific had as much to
90, as anything, with the decision of the
trend of the market. The manner In which
this stock Is, supported in spite of the
doubts engendered regarding the flood of
rumors concerning it and the failure of
disturbing rumOrS of various kinds to
weaken the market effectually has had the
effect of intimidating the bears and reas-
surfing sentiment. 1t is said that stocks
are easy to sell and that any attempt at
accumulation discloSes a small floating
supply. This condition was generally at
tributed to the great strength of the gem
eral situation in which renewed confidence
is caused by the extra ordinary conditions
In the iron and steel trade disclosed by
the statistics for March. But this infiu-
ence was fortified by reports affecting spe-
cial properties
Reading Active
Thus Readings striking movement to-
day was fostered by rumors that the stock
is TO be put on a 4 per cent. dividend
basis. Stories of a comparative cOmblna-
ton of great corporate interests in the
copper smelling and lead industries helped
the EFFORTS OF pools in the stocks affected to
advance their prices. The Northern Sc
curities settlement again emerged into
prominence with the vague intimation that
next week with the issue of mandate of
the supreme court for the distribution of
the company's assets the great merger
projects which have been waiting on that
event will eliminate. Some strength in
wheat on cold weather reports had less
effect on stocks because of the protection
thus afforded to the conductors OF the
wheat deal whose safety is a matter of
solicitude in the stock market.
The increase disclosed by the March eX-
ports of domestic products was a helpful
influence, owing to the supply OF foreign
exchange thus implied. Thus the constant
SnlftlDE of the demand 6pVplOnp1 a large
number of gains as the day progressed and
there was a considerable expansion in the
volume of the market. A movement to
take profits carried prices back before the
close, but they came up again and the
irregular closing was not far below the
top level.
Bonds were irregular. Total sales par
value, $3.50, 200. United States bonds
were all unchanged on call.