The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-01-25
The Stock Rarkets.

NEW YORK, Jan. A.-Enormous realizing
and short sales today mat Hially affected quot
ed price stocks The dealings were in excess
of 1884, COO shares, and at no time did prices
Of the higher valued railroad stocks reach
yesterdays closing figures. Heavy sales in
the early dealings were caused partly by the
lower range of London quotations, and there
were numerous dealings giving point. A
sharp upward movement followed support
rendered to Michigan Central, Union
PACIFIC preferred, Peoples Gas, Manhattan
Tennessee Coal & Iron and Federal Steel
common were also lifted up
The trading element began to sell freely
as the effect of heavy profit taking was ap
preciated. The market at first became dull
as prices receded, but the selling gradually
assumed larger volume and quotations rapidly
crumbled away and eventually weakened
practically all stock traded in. In the alb
sence of unfavorable news the reaction was
attributed to the technical conditions By
reaching stop loss orders in the more active
shares material slumps occurred in prices
with as much as point or more in the diff
ference in quotations between the transac-
lions.
Money continued easy, and the banks were
expected to make another heavy gain this
week. The movement of money from the in
terror and from California continues heavily
the day was made in the final hour, and sell
Ing at that time wiped out the gains in stocks
made earlier in the day.
The extreme breaks in the Vanderbit's
range up to Az in Northwestern. In the
+ Flower specialties the largest break was in
New York Air Brake, 6 points. The drop
in the grangers ranged from points in Rock
Island to 81 in Burlington. Among the coal
ers the slump ranged up to Az in Reading
lst preferred. In the Pacifcs the extreme
drop was points in Union Pacific preferred
Pennsylvania deprecated 3a4 Manhattan and
Metropolitan 2A each, c., c. & St. L. 2,
Tennessee Coal & Iron 2, American Malt 3,
and General Electric 31a, New York, Ontario
western. the most excessive stock the
list in the days trading, dropped az points,
1t was estimated that London at one time had
sold $4,000 shares, a portion of which was
taken back on arbitrage dealings later in
the day. The resistance market showed in
the forenoon, notwithstanding the assaults
made upon it by traders, was explained by
several prominent interests were large pur-
chasers. They professed to see no change
in the situation, pointing out that there was
no danger liz sight, that the market was
likely to receive support by the purchases
made in the interest of institutions and indi-
vlduals who had large supplies of money
seeking employment. number of wagers
dividend rumors crossed Northern Pacific
common in the forenoon trading A feature
or the market was the resumption Of activity
In the middle class and low-priced stocks
Inc bond market displayed early strength
but later yielded in sympathy with the rSsc-
ton IN the stock market Lot sales were
$9,260,0O0. United States 3s and the old As
coupon declined Is in the bid price.
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith G Co.,
members New York stock exchange, Pioneer
Press building, who have direct wires to Chi
cago and New York Closing prices are bid: