The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1912-03-16
0UTBURST Of
BULL ENTHUSIASM
Claim That Jim Hill Has
Covetous Eyes on Fries,
Boosts that Stock
TOTAL
LARGEST LATELY
New York Banks Threatened
With Another Loss of
Cash, Though Small

New York. March 16.-There was
an outburst of bull enthusiasm In the
local stock market today which car
ried many securities to a new high
level for the present movement. The
demonstration in the first hour was
unusually impressed by reason of eX-
traordinary activity, something like
100000 shares changing hands. Oper-
ations embraced far more than the
usual number Of issues and reflected
breadth n more genuine demand.
Extensive profit taking followed the
initial rise, with another period Of
comparative dullness. but offerings
must have been we'll taken judging
from the slight impression upon quot
cd values.
The advance was again noteworthy
the minor specialties, but leading
stocks also held consistently strong,
especially the coppers. In h rail-
way group there was a further de-
mand for the Fries, which sent the
common stock up to within a frac-
ton of last years high figure. The
activity of these issues was attended
the Hill interests.
These rumors have served on previ-
Gus occasions and were no more con-
firmable today than before. Gould
stocks also made q good showing, the
rise being based upon the general ac-
ccpted idea that the ines of that sys-
tenn are again becoming factors in the
western and southwestern fields. Other
low priced railway shares were in
fair request but the impelling motive
back of some was obviously of pool"
origin. Among the standard railroad
stocks Illinois Central was conspicu-
Gus for extreme weakness which Great
ed little surprise in view of the recent
u~nfavorable statements of earnings.
| In the last hour the market was
again subjected to considerable SELL
ing. no small part of, which originated
with h short interest, who became
e%mboldened at the coal trade condi-
tons here and abroad. The probable
abolition of the commerce court,
whose rulings have recently favored
the transportation companies rather
than the shippers. called attention to
legislative conditions at the national
capital.
Largest Dealers.
Final dealings reflected a mixture
of short selling, and further profit talk
ing. Dealings We're light, with alter
nate fractional gains and losses, but
IN the mai neven though gains in some
OF the leaders We're completely wiped
out. Total dealings, aggregating 1884,
600 shares, We're the largest with few
exceptions in some weeks.
Americans were among the strong
features of the London market, with
a very decided rise in Canadian Pa
cific. which was followed up here.
Some concern is being expressed in
London, however. at the spectacular
operations in shares of the tin and
other metal companies. In fact, tin
shares slumpcd abruptly in that mar
ket later in the day. when rumors of
financial embarrassment to some trad
ers were current.
Local banks are threatened with
another loss of cash this week albeit
the drain promises to be small. 4
further oan expansion is not inn
probable. together with another de-
crease of reserves.
Bonds were firmer. with especially
large dealings in the Erie issues. Total
sales, par value, amounted t o $3,611.-
600. United States twos coupon ad-
Nanced Ia per cent, and the Panama
threes coupon declined 1-8 on call.