The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-10-18

NEW YORK, Oct. 17.-There was a
short-lived demonstration by the bulls in
the stock market today, but before trad
ing was suspended the early gains were
largely curtailed, and in some cases more
than wiped out. The strength was at
tributed to various causes. The reappear-
ance this week, upon the floor of the
exchange, of several operators who took
large part in last springs big bull
market and who have been away on long
summer vacations, gave something or a
fll-up to bullish sentiment.
The quiet tone of the money market
yesterday in the face of the operations
incident to the change Of old Central
Pacific securities for new encouraged
some sentiment for rise. There were
one or two stocks on tho LIST which were
notably strong from individual causes,
which were rumored, but not authorita-
lively disclosed, and which helped to sus-
tain prices. Among these were Pullman
and Great Northern preferred, although
the latter more than lost the early gains.
The Baltimore & Ohio stocks were con.
spicuously strong, the common rising an
extreme 2% and the preferred 9. Laclede
Gas continued its advance and reached as
high as Co. The grangers, Louisville and
Southern Pacific were quite we'll taken
early in the day, apparently by pool in
terests.
The public was not in evidence at any
time during the day. Call money con-
tinued at per cent or below, in spite OF
the fact that many banks report their
cash still below the regular reserve. But
while the money rate did not tighten, a
number of industrial stocks, especially
those classed as green in Wall street
parlance, showed signs that weakness
might happen if they were subjected to
discrimination by money lenders in the
shifting of loans. The Glucose stocks
were notably affected, the common drop
ping nearly eight points and closing near
the lowest, while the preferred lost BE.
The iron and steel stocks as group
also weakened simultaneously, Steel IL
Wire leading with an extreme decline of
pa Others of the group suffered to the
extent of between one and two points
This unsettled the bull movement and
wiped out pretty much all the gains which
had been established.
Prices struggled up again in the final
dealings to a level for the most part
slightly above last night, but the snap
seemed taken out of the market. There
was warning rally in the rates for for
eign exchange during the day which was
not unheeded. Signals of distress were
in evidence in the German money markets
and sterling exchange fell sharply at the
continental centers, including Paris. Dis
count rates in London responded with an
advance and exchange rates here, both
on Paris and London, rose in sympathy.
Add to this the fact that money Is still
going to the interior in considerable vol
ume, that government payments through
the subtreasury are again falling off,
promising a renewed drain on the money
market on account of revenue receipts,
and that applications for anticipated pay
ments for government interest continue
on a small SCALE and the outlook for east
err money is not promising.
The bond market was moderately ac-
tive and prices improved Total sales.
par value, $2,OO5,OOO. United States bonds
were unchanged in bid cuoo9 tons.
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith &
Co. members Of the New York stock ex-
change. Pioneer Press building, who have
direct wires to Chicago and New York.
Closing prices are bid: