The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-10
A STRONG STOCK RALLY
CLOSING VERY LIKE A ROUT FOR
THE BEAR SIDE
The Day One of Ups and Downs,
With Early Declines, as 81 Rule,
Wired Out by the Late Advance
The Prices of Bonds, for the Most
Part, Held Firm.

Part, Held Firm.
NEW YORK Feb. 9.-The most notable
feature Of the stock market today was the
strong rally in the last fifteen minutes of
trading. After 2 o'clock the bears started a
raid, apparently with an aggressive deter
mination to shake out weakly margined hold
ings, and to reach stop-loss orders. They
seemed to be succeeding admirably in forcing
down prices, declines ranging from 1 to 2
points all through the list, but the appear
ance of support at the low level led to a
covering movement which became rush,
and the closing was very like a rout OF the
bears Substantial recoveries were scored
very generally, and in a large number of
cases earlier declines were entirely wiped
out.
The market was one of ups and downs all
day, the opening showing numerous signs OF
heaviness in spite of higher range of
prices reported from London. The bulls
promptly offered support, and rallied the mar
ket, holding their advantage up to noon, when
a tendency to realize sent prices downwards
again.
The Cuban situation discouraged aggressive
tactics on the part of the bulls, the profess
sional traders being disposed to realize all
day There was a decrease in the volume
or business also, and falling off in the out
side interests. The decline, however, brought
out good buying. Michigan Central North
western and Omaha showed special signs of
strength and the local street railway COM
panies also advanced cutie vigorously
Union Pacific securities We're all quite strong
Inc advance apparently being due to a be-
Eef that the reorganization had conclud d
to secure the Kansas division even at the
governments own terms
Great Northern preferred was conspicuous
Tor a reaction of nearly points from it's
recent remarkable advance Pullman was
marked up so points on small transactions
ara Rubber preferred scored a sharp ad-
vance. London bought stocks here on bal
ance.
Money continued to rule below 10 per cent
iof call loans, and there were reports of large
loans fer year at 80 per cent. The with
clGWal OF the 10 Per cent installment of the
governments deposit of Union Pacific nav
ment was reflected in credit balance at the
clearing house for the subtreasurv Of SECS 109
me suhtreasury has been having a daily
DEBT balance at the clearing house of $500 ONO
or upwards fer some time mast The rIathora
OF money was net appreciably relieved by the
operat!on; Sterling exchange hardened an
atd tiona! fraction
The speculative bonds showed a reaction
afy tendency n sympathy with stocks. but
prices of bonds for the most part held firm.
Total sales. $4.230,0G0. United States old IS
coupon ard the new Is registered were u
lower bid. %
Toal sles o seeks tolay. S5s. 200 C ar $,
nci I'D ng 10 40, At h son psd; SEQ. c. & O.
e, Is. Blu Ii 10 s. S. D. & r. G MD
% o. Eric q; S,+-C, l. & y; 1920 Ma :
II al "a 0, Netr- po--tal: 3.15f VI CHG IN
1eh'f+l; 3, -, Reading ?fd: Cos. NJ. X g
l.. pid; ll92J, 7. c.; 4,6 0, Northern Pa
81 ?aui: IS q O. Uni n P7@ific 40, Tobacc
o,=zC. CHina o Crea ", s. ,rn: 1916 P o le
Gas; 41-3 COnsclida el Gs, 100 General
E.ectric; % 4G5 SUg +.
The following we're the fluctuations of the
Leading railway and industrial shares fur
New YORK stock exchange and Chicago board