The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-18
END1O THE LIQUIDATION
STOCK BEARS AGGRESSIVE, BUT
AFRAID TO LEAVE OPENING
Covering Brought Prices Back to
the High Level of the Day, With
Net Gains for the Most Part Frac-
tiOnaI, but Extending to q Point
in Some Special Cases.

NEW YORK, Feb. 1.-THE most important
feature in today's stock market was that the
heavy liquidation Of yesterday not
sumed. There was aggressive pressure by
the bears at times, but they refrained from
leaving their contracts open and their cover
Ing before the close brought prices back to
resulted, fractional for the most part, but
extending to a point in some cases.
Quotations received this morning from
London showed the prices of Americans there
substantially above the closing prices here
last night, but that simply meant that de-
clines from yesterdays London closing had
declines here, after the London exchange had
closed. The tone in London which served TO
SUSTAIN prices were on cabled orders from
New York and represented the covering Of
shorts put out in this market.
The opening here at or above the Lon
Don parity, but prices yielded Immediately
after the opening on lquidating sales through
commission houses. Support was forthcom-
ing before these fell to last nights close
ana the market rallied but fell TO the lowest
before noon on the disquieting reports eman-
at1ng from Key West that evidence had been
discovered to show that the Maine had been
destroyed by torpedo exploded outside the
ship.
The selling on this report was quite large
ana the level OF prices was carried substan-
TALLY below last nights close, but the subse-
quent rally indicated that these sales were
largely by bears who were not of their
position In fact the whole days market
reflected doubtful frame of mind on the
part OF the speculative public and a DISPOSE
ton to pursue waiting policy.
Some degree of speculative interest was
doubtless diverted to the wheat market Yes
terdays increase in the Burlington dividend
rate and the final steps towards the purchase
OF the Kansas Pacific by the Union Pacific
reorganization committee which were quite
today Va -o 'Ae0'
- There was large buying today of Oregon
snort Line and Oregon Navigation which
was not explained by any definite news an
houncement- Minneapolis & St. Louis showed
a resumption of strength on buyine said tn
be for control.
The doubtful condition of the speculative
nina was reflected in periods of intense
dullness during the day
Inc bond market showed weakness in svm-
pathy with the midday break in stocks. but
closed strong and generally higher than last
night: Total sales, So, 500, co.,
U. 5. new As and the old as coup were II
lower bid, the old As reg 4 lower. and the
fives u lower -e
Total sales of stocks today were AIS. 100
shares, including: Atchson pfd .O3O: G. e,
o., 1850; Burlington, 49, $50; Erie pfd 2 geo.
u. & ~, 1865; Manhattan, S,825; Metropoli-
Tan tan, l0,52o; Missouri Pacific, 3,775 M. K. &
i. pfd, 4.25O; N. Y. c., 5000; North Amer
Icah, Ii, 6O3; Northern Pacific, $3.50; Northern
racine pfd, Is, 1893; Oregon Short Line, $500
neaolng, 3206; Rock Island IL S65; St Paul
81, Io0; Union Pacific, 9,043; Tobacco, 16. ga
freoples Gas $3.50; Consumers Gas, $500;
sugar, 81 ,2S3; Western Union, 1901.
The following were the fluctuations of the
leadlng railway and Industrial shares fur
nlshed by c. H. F. Smith &, Co membero
New York stock exchange and Chicago hoard
of trade: S'e' ooaro