The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-11
HIGHEST PRICE EVER
PAID.
GENERAL MARKET LOWER
THE AGGRESSIVE MARCH OF THE
BULLS HALTED BY SOME
OBSTACLES.
MONEY AND EXCHANGE BOTH FIRM
Traders Disappointed at This in
View of the Showing of the
Bank Statement.

NEW YORK, Jan. 10.-There was halt in
the bull movement on the stock exchange
today, the upward course Of prices meeting
with some obstacles. The buoyancy mani
tested by some special stocks was not SUI
fcient to overcome the general tendency en-
tirely, and prices as a rule are somewhat
lower. There was some pressure to sell for
London account and prices Of Americans
were lower in London before the opening
here. There was deposition reported from
that center to take an unfavorable view of
the future of values in this country. There
was also some selling to- realize in continual
ton of Saturdays profit taking. The readi-
ness of traders to realize gave weight to
the opinion of some professionals that the
technical conditions were not good at pres
ent for prolonged rise. This opinion is
based a belief that large lines of stock
are already in the hands Of spectators,
awaiting a rise. these holdings it is argued,
might be dislodged by a slight reaction, and
passed to the hands of large combined inter
ests. Doubtless the fear of some such
maneuvers caused some of the smaller oper-
ators to pause in their buying today. "
also gave confidence to the bears, who sold
some of the leading stocks, quite aggressive
ly.
The recent activity of Cleveland, Lorain &
Wheeling, one of the few Ohio roads to
tended today to Hooking Valley and Wheel
ing Lake Erie. The common stock of the
former rose over point, and the preferred
over points. Wheeling & Lake Erie stock
also advanced materially, but moved in quite
an erratic manner. Tennessee Coal was
strong, apparently in sympathy with this
group. Illinois Central was in demand on
the strength of its statement of earnings
which showed an increase In gross for De-
cember of nearly 1853 600 and in net for
November of $500 4SS, as compared with the
corresponding periods last year. The buying
of Northern Pacific stocks was also very
heavy, blocks running from 1000 to 1000
changed hands quite frequently as result the
preferred closed 1as higher at 62%
which is new high record
Michigan Central, Missouri Pacific.
P, c., c. & St. l., Manhattan and Metropoii-
tan Street R'y, were other stocks to show
strength. New York Central on the other
hand, lost a point on realizing. There was
some disappointment in view of Saturdays
bank statement at the continued frmness OF
money, which did not loan below 3 per cent.
Foreign exchange also continued firm.
The bond market was quite active today and
prices held firm in face OF some realizing in
the speculative issues. Total sales $3.50 900.
Z: S. old fours coup. are Is lower. bid.
The total sales of stocks today were
o., 5000; Burlington, 1915; D., L. & w,
1900; Hooking Valley, 6,i15; Illinois Central,
1885, L. & N, APPS; Manhattan 1886; Met
ropolitan, 3.540; Hawaii Commercial company
$780, Missouri Pacific 6,649; N Y c., 1920
Northern Pacific, 1893; do pfd. 31,7O4; Rock
Island, $3.50; St. Paul, 1915; Union Pacific,
3,475; W. & L. E., $500; Tobacco, 1884, C.
G. W., 9,476; Peoples Gas, $3.50; General
Electric, 4,0S5; Sugar 81, $40; T. c. & l., 1923;
Western Union, 6,666.
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