The Saint Paul globe., 1899-03-30
BULL MOVEMENT IN STOCKS FIN
ALLY RECEIVES A MATERIAL
CHECK
DEALINGS ABOVE A MILLION
Sensational Advance in the Fore
noon brought About Realizing
saAes on an Enormous Scale for
the Late Session-American To-
baccO OF Over Three Points.

NEW YORK, March 2s-The bull move
ment in stocks, which started Saturday
received Its first material check shortly
before noon today. The dealings were
considerably above the million share
mark, with nearly a quarter of a million
or the transactions IN Brooklyn Transit
The sensational advance In the forenoon
brought about realizing sales on an enor-
nous scale in the late session. Foreign
exchange was. strong and higher, espec-
lally on short bills. There was no satis-
Factory supply Of commercial bills and
the April settlements were given as the
reason for the increased renting de-
mand which was said to be unconnected
with any anticipation of the settlement
OF the Philippine indemnity money.
There was a furry in call money which
went as high as per cent and closed at
SN. These circumstances, together with
the early strength in wheat accelerated
the afternoon declines, which embraced
even more stocks than were prominent on
the rise. Brooklyn Transit made an ex-
treme advance OF 8 points, dropped over
and closed with q net advance of 5
points. The break from the top In this
stock. which sold today over 100 points
above figures prevalent last April, was on
large blocks of stocks thrown over by the
traders; but, on the decline, supporting
purchases by the parties identified with
the property resulted in q rally. AS in
the manipulation of this stock many
brokers are used, 1t is difficult to say
whether the decline was on genuine re-
aliZing or to shake off an undesirable
following.
Although Northwest closed with gain
Of less than points, 1t had at one time
risen the extreme Of I, New York Cen
trail which at one time was up 5ss, re-
tanned less than 3 of the rise. These
stocks were unusually active and revived
talk of the possibility of consolidation.
1t was said there had been enormous re-
alizing by interests active in manipulat-
ing the rise in several stocks, which were
easily taken because of the purchasing
demand aroused by their recent strength
This. however, is 4 matter of pure con-
lecture. Reports of hitch in the deliv-
cry of certain properties to the Cont
mental Tobacco Co. and talk of the pos
sibility Of a trade fight, kept Tobacco
stocks weak most of the day, American
Tobacco being off over points and Con-
tinental 25s Federal Steel and similar
properties suffered on realizations.
Weakness also developed in General
Electric, Rubber, Atchison preferred and
the coalers. Granger stocks showed
good gains in the early period of strength
and receded with the rest Of the market
in the early afternoon. The market
closed weak and active, with many sharp
losses.
Railroad bonds participated fully in the
vagaries Of stocks today, but the range
was well within the point of the most
active issues. Total sales, s4,345, 900.
United States bonds were unchanged In
bid quotations.
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith 6
Co, members Of the New York stock ex.
change, Pioneer Press building, who have
special wires to Chicago and New York.
Closing prices are bid: