The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-06
AWAY FROM BEARS
SHORT SIDE UNABLE TO KEEP
CONTROL OF THE STOCK
MARKET.
GENERAL RUSH TO COVER.
ACTIVE LIST CARRIED UP TO NET
GAINS OF ABOUT A
POINT.
THE UNION PACIFIC DEAL CLOSED.
Final Payment Made without Caus-
ing Any FURRY in Money
Stock Close Buoyant.

NEW YORK, Jan. 6.-The stock market
got away from the bears in the later dealings
today and closed buoyant and very active in
part because OF the rush of the shorts to
cover. Some of the specialties were strong
throughout the day, but there was a period
IN the early session when the reactionists
gained control of some OF the South and South
western stocks being sold down a point or
over. The bears also attempted to utilize
the Introduction at Albany of a bill directed
against combinations of capital but the eff
rect was confined to Consolidated Cas- which
Tell over point. Some heaviness early was
manifested also in prominent railroad stocks
which may have been due to sympathy with
the depression in the same stocks in London
and on European exchanges. This was not
ably the case with the New York Central
stocks and Northern Pacific preferred The
forced covering of shorts and the later buoy
ancy Of the market brought the extreme
advances in some of the most prominent
Stocks to nearly points or over, and net
gains OF point over are very frequent
throughout the list.
The failure of the bears to effect declines
encouraged aggressiveness in the bulls There
was growing feeling also that recent utter
ances by railway officials pointing to poor re-
turns on account of low rates and rate cut
ting, were not fully warranted and were
designed to influence public opinion and the
actlon or congress-. The days reports of rail-
way earnings came to re-enforce this view.
st. Pauls earnings for the last week of the
year were second only to those of 1892
Ior the corresponding period. Missouri Pacific
SHOWS an increase in gross earnings for the
last week in December of s154 900: Chesa-
peake Ohio OF 500, $40, and Kansas Texas
OF $66,6O7. The detailed statement for Octo-
p
started active buying of that stock In the
mai hour, which carried the price up to
1914, compared with recent price of 13. Final
~ the Union Pacific reorganization commit
tee presented its check to the assistant treas
urer today for $8538, 401, which Is the final
payment on account Of the Union Pacific
SAFE The contamination of this which has
oeen disturbing factor in the money market
1or month, and the absence Of furry on
was viewed with relief by Wall street The
future ease of the money market now seems
assured so far as government onera+iono orc
concerned
This encouraging combination of circum-
stances served to put an end to the bear
campaign today and turned the tide in favor
Oh o., the bulls, though the days business was
SIN largely confined to the professional trad
ing element. Brooklyn Transit led the mar
ket both in point of activity and in extent
or gain, which was "a.
The bond market took an increased activity
and strength in sympathy with stocks and
prices We're generally higher Total sales,
81 ,OOo United States new As were u
higher bid, the 5s reg. % higher and the
old As reg. and the 5s coup: y higher.
Total sales Of stocks today were 23S. 700
shares, including: Atchison pfd 4,S4O; Bur
lington, Is, 116; L. & NJ, 7,105; Manhattan.
Is go; Metropolitan, 1870; Missouri Pacific,
ESQ; M. K. & T. pfd, S2s5; n Y. Central
$3.50; Northern Pacific pfd, sass; Rock Island
7.31O; st. Paul, 20,430; Union Pacific. 5.SS6:
Tobacco S,512; Chicago G. W., 1920; Peo-
Pies Gas, IA 123; Sugar 1885.
me following were the fluctuations Of the
n1shed by c. H. F. Smith & Co., members
New York stock exchange and Chicago board
Of trade: Nu