The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-02-17
STOCK STATUS FEVERISH
PRICES SOLD DOWN BY A DETER
MINED BEAR ATTACK
sfble International Results the
One Influential Factor of the Day
Only Strength Apparent Shown
by the KIondtke Group.

NEW YORK, Feb. 16-Tradng was re-
narkably feverish on the stock exchange to-
day, and all interest centered in the disaster
to the Maine in Havana harbor and in the
possible international consequences. 1t can
not be said that the varying phases OF the
speculation during the day represented any
sibilites with which the disaster is pregnant.
The occasional checks to downward course
OF prices were rather the results Of question
In the minds of large operators to their
ability to hold the market, or the best way
holdings
Twice during the day very powerful sup
port was forthcoming in the market to check
the decline and to combat the successful raid
OF the bears. That there was very large short
selling during the day was evident from the
strength Of the rallies caused by the covering
OF shorts when the turning point at the low
level was reached. This was particularly no.
recent speculation which have been pushed up
to prices hardly warranted by their intrinsic
value.
The knowledge possessed by the bears of
very heavy speculative holdings In those
stocks covered by light margins gave them
confidence in hercely selling them down. The
support of the bulls sooner effected a
check to the decline than realizing offers be-
gan to come out again. There was an abun-
dant supply of long stock fed into the market
all day long, and it was evident that the
bulls had abandoned an immediate campaign
for a rise hopeless.
How far the speculative holdings for a rise
were liquidated to day remains to be seen.
soon this liquidation can be concluded
prices of securities will be left for the time
being to their natural level
Stocks which have been free from recent
manipulation for a rise were comparatively
firm today, and the so-called Klondike group,
notably Oregon Short Line was even agrees
sively strong, rising at one time points.
This was on reports of the large traffic open
ing up for Alaska Great Northern preferred
gained 2 points and Denver preferred showed
comparative firmness. Kansas & Texas pre-
ferred also rallied to last nights level before
the close.
Otherwise the weakness of stocks only
question Of degree. The local traction
stocks were all severely handled MetropoH-
tan Street Railway falling at time 91A
points and closing at loss of points. Nor
folk & Virginia preferred was raided down
nearly points at one time, but closed at a
recovery of over 2. Northern Pacific pre-
ferred also yielded at one time 3A, but re-
covered sharply. Net declines of 2 points and
list.
Bonds are heavy in sympathy with stocks.
but declines were not so severe and the mar
ket was not so active as that for stocks.
Total sales, 81, 10000. United States old As
regular and IS regular were * lower bid to-
day, and the new IS coupon Il lower.
shares including 9,64O Atchison preferred
$500 C. & O.; $50 Burlington; 3,625 Illinois
Central; $3.50 Lake Shore; 1880 l.. n.
$3.50 Manhattan; 22,5So Metropolitan; ZOO
Minneapolis & st. Louis; $3.50 Missouri Pa
cifc; 1910 NJ, K. & T. preferred; q, 25O n. Y.
c.; $3.50 Northern Pacific; 20,62O Northern Pa
cifc preferred: 9,428 N. Y preferred; $3.50
Reading; 1920 R. l.; %, $50 St. Paul; 1910 St.
P. & O.; AGO Southern preferred; 1880 Texas
& Pacific; 1880 Union Pacific; Il, $50 Tobacco;
II. 920 Peoples Gas; S,210 Consolidated Gas;
6135 General Electric; 1920 Sugar; 500
Western Union.
The following were the fluctuations of the
leading railway and industrial shares, fur
nished by c. H. F. Smith & Co.. members
New York stock exchange and Chicago board
of trade: