The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-04
Tho Stock Markets.

NEW YORK, Feb. Stock values received
d severe test today, bordering on the panic
Slase, through The enormous outpcuring Of
SUCK from professional and commission house
sources, but the day left off with irregular
changes OF fraction either way With the
oone strong. Before the opening it was
argued tnat yesterdays market showed that
Isacuon was under way, but 1t was contended
Iilst the forces resisting a decline In the
aoseHCe OF extremely ullfavorable news would
T TT. liheiy allow prices to recede very far.
ne absence Of decided tone to the early mar
net was In Fart due to the expression of a
prominent bull leader that the market had
uaeu TOOK, but the people did not know
WHAT 10 DO with their money, and II the mar
het rested week or two 1 per cent would
oe probable. The market opened rather ir-
Ieeuiar, the grangers showing a moderately
81 zone on st. PauPs increase of S161 600
10. !e the fourth week in January The special
ties were inclined to sag and commission
muse support was moderate. Such strength
as tnere was in the market disappeared under
p pe ol.ssional pressure. There was an absence
VI support from large interests and realizing
set IN which gave the bears encouragement
ior vigorous demonstration, which, after a
Ieebie rally resulted in many stop loss orders
Delng caught. It was said ON the floor that
the heavy selling came from Washington
ana the rumor gained currency that the ratif-
ca m OF the peace treaty was in jeopardy.
Inc market felt the effect Of the heavy
r re that took place last week and this
me lowest prices Of the day were shortly
sdi noon: The grangers were down from
d7s IN St Paul to 21a in Burlington, the coal
Read1ng LIST Dfd. In the Pacifics the range
was from IL to 21a. the maximum loss In
southern Pacific. In the specialties the de-
e e was even mere pronounced, ranging
TO in New York Air Brake. In this group
Manhattan and Tennessee Coal each lost
3A: PEOPLES Gas, Brooklyn Transit and Fed
eral Steel about each, and Consolidated Gas
s nf
preferred stocks of Great Northern and Iowa
central about points each.
Inc declines were very general and en-
braced almost everything of consequence as
Is indicated by the above details. Large ord
ers came when the bear movement appeared
TO nave lost its force and liquidation quickly
ceased. The bull leaders took hold of their
various speclaltcs and helped the recovery
which continued practically to the close with
only momentary slight recession on profit
s saklng. Iraders generally took the long
sue Tor turn on the idea that much of the
weak held stocks had been transferred to
stronger interests. Among the stock which
responded most readily to the recovery were
New NJ York Central, Pennsylvania, st. Paul,
pro, Tennessee Coal. Consolidated Gas and
Manhattan. Metropolitan Street Railway
mad a very handsome gain for the day. 1t
rose point in the initial dealing, broke 8
and rallied ~. The buoyancy in this stock.
Iogetner with the resistance shown by New
YORK Central on The break made them leaders
IN the recovery. The advance in Metropolitan
street hallway was said to be based on the
belief that Metropolitan company had obtain
ed control Of the Third Avenue line Stand
ard OIL stock dropped from $50 bid last night
to offered at 412 on curb today with transac-
tions at Ais and then rose to 444 and closed
435 Co 43S. The opinion was entertained in
some. quarters that extra dividend on the
stock would, be considerably greater than the
actual allowance of 8 per cent, which was
made. Consequently disappointed holders.
VINO had bought previously in expectation of
a handsome distribution, offered their stocks
and in the absence of market speedily
brought about the slump.
The bond market yielded sympathetically
with stocks, but did not display much re-
Operative power when stocks rallied. Total
sales "a ,400, 000.s United States new As coup
declined Is and the IS advanced "a.
pr STOCK QUOTATIONS.
Furnished by Charles H. F. Smith & Co..
members of the New York stock exchange.
Plcneer Press building, who have direct wires
to Chicago and New York. Closing prices
are bid: go