The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-01-05
FEW OUT TO BUY
STOCK PRICES DEPRESSED BY THE
PREPONDERANCE OF SELLING
ORDERS.
LIQUIDATION MORE GENERAL.
SOME SHORT SELLING Ry THE
PROFESSIONALS ON THE
BEAR SIDE.
MOST INTEREST IN spEc1ALrrEs.
Net Losses of large Era..;o co.,
mon Through the General
Lfst-Money Rates Firm.

NEW YORK, Jan. 4.-Prices of stocks
showed a further decline TODAY. There was
nothing to indicate that the decline was d,e
TO any other cause than the prenonderanca
OF those who desire to sell over those who
oeslre to buy. There was some short sell
ing py the professional BEARS but no marked
recuperauon, such as would be caused by the
covering OF shorts was manifest, and the
years II tney sold, were apparently content
u leaVe their contracts open. The specialties
continued to absorb the largest share of at
tenuon, but the market showed a broader
tendency and the liquidation extended more
generally through the list METROPOLITAN
street Hallway was feverish and erratic
throughout, moving over range of 2lk points
and closing with a gain of fraction. The
soocK at one time shared in the weakness Of
the general list and fell IL points. Man
haitian was under pressure all day momen-
tarily gaining at the opening, and fell to
the lowest-110-only little before the close.
with feeble rally. There was obvious bear
pressure against this stock Net losses of
large traction are general throughout the list
ana a number Of prominent specialties and
railroad stocks, notably among the Southern
ana southwestern roads and the coalers,
SHOW net losses Of point or over
Yesterdays furry in the money market,
winch carried rates up to 6 per cent was
not repeated today, but rates were firm and
the largest part of the days transactions
were made at per cent, with exchanges at
32 Ths clearing house statement discloses
that the January interest disbursements re-
suited in the transfer of little over 81 OOO-
600 from the treasury to the New York mon
ey market as indicated by the subtreasury
debit balance. The days exchanges at the
clearing house ran up to the enormous total
OF $3.50, 731, 265, and the balances footed up
over $4,000, 600. Tomorrows Union Pacific
payment Of SIS, SOC, 000 which is to be covered
into the treasury In cash, doubtless figures in
these transactions, but there were evidently
heavy banking operations in addition, quite suf-
fcient to account for the furry in the money
market yesterday. In view of the proper
tionately small surplus reserve, there are not
such confident predictions heard of an i'm
mediate easing of the rates for money as
were current last week, though the exchange
market holds firm on a demand which is
based on a presumption of lower rates for
money in the near future. The demand for
bonds was not heavy today, but prices were
well he'd. Total sales, 81, $50 900. United
States old tours registered were a lower bid
today and the ives were 1s higher.
shares, including Atchison pfd, 1856; L. &
NJ, 1850; Manhattan, 26,4S; Metropolitan,
$3.50; Missouri Pacific, 7,415; Northern Pacific
pfd, 1880; Rock Island $3.50; st. Paul, 81 Ut;
Tobacco 1850; Chicago G. W., APO; Peoples
Gas, 12,26O Sugar, 1883; Western Union,
$685.
The following were the fluctuations of the
leading railway and Industrial shares fur
New York stock exchange and Chicago board
of trade: