The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-12-27

Bar silver, New York;. 81 GSE
Cali money New York.rrs, AS
NEW YORK, Dec. 26-The stock mar
ket went through some viciSsitudes to-
day, but its most astonishing phase was
the final recurrence of the undertone of
strength which has come in to support
! the market so persistently of late, and
driven off all moods of depression. After
opening with a sky rocket advance in
prices, followed by DRIP, veiy like
the sky rockets stick, the market gath
cred Itself together again and ignoring
the continued pressure of liquidation,
| which continued in force at some points,
it resumed its Irregular show of strent III,
the struggling new Pc hts of strength
being unaffected by the weakness at 9TH
ers. The sharp reaction at midses1ion
was due more tffa0 enythinS else to the
extremely doubtful character of some of
the opening advances The character of
the stocks affected and the violence of
the jump in prices gave suggestion of
speculative debauoh such as it the in
variable accompaniment OF the culmina-
ton of bull market Professional ira i
ers have been constantly on the lookout
for the signs of such elimination and
they sold the market. eagerly en- the
opening rise. These offerings were sup
p1emented by the very heavy prpfit-tak ng
of interests long on the the market. AT
this period of the market, it took on an
appearance of general weakness, prices
erumbAng throughout the list. The sur
prlSIng opening gains in a number of in
dustrial specialties and a few railroad
stocks We're very gene: ally wiped out
and some of the important railroad stocks
had fallen from q fraction to a point
below Saturdays closing level The vio-
lent break In the Northern Pacific stocks
had a large influence in the decline, as
the unb1idIed speculation in the same
issues has been the salient point of the
market for days past. a published state
ment that the preferred stock would not
be retired on the coming first Of Ian
uary is the ground for the break. as it
would take away the reason for tie re-
cent speculation. TheSGpmnoH stock was
carried down an extreMte "a and the pre-
ferred nearly three paiEts. A 6 per cent
call money rate emphasized the cautious
feeling and the relapsSt1s5 per cent later
in the day was an important clement in
the rally The substa AtiaI character of
the buying orders encountered at tie
decline discouraged the@hears and their
buying to cover GelpeaE the: rally. 1t
has its inception in the local tract on
stocks, which were al1-Nery strong with
accompanying rumors of a consolidated
control Missouri Pacific Reading first
preferred, Peoples GAsaand Sugar Wee
also conspicuous features of the late
recovery. The closing axasi very irregular,
but the underto@e stro1g. TIE oienng
outburst was palpablY Due in large part
the busy operations of speculative cllques
during the holiday fnteG1al III making
demonstI ative bids for ALMOST any am ng
the stocks affected, without any a-tulI
transactions being involved as restrain
ing Influence. The opening price in
Brooklyn Transit varied nearly three
points on an extreme advance of BIS and
there were wide openings en- running
sales in Tennessee coal, sugar, ST. Paul.
Erie first preferred and =Atcnison. The
extreme gains IN these stocks ran firm
! one to I've points in the Erie 1irSt PFC
ferred. which was at no time more
than a traction over SATURDAY.: There
seemed to be plenty of funds available for
borrowers and lenders show themselves
anxious to put out money en- time, haY-
ing in mind the coming dt3bursement OF
the yearly dividends and interest and the
promise Of lower rates, while b1TI overs
show q preference for call leans. The
| turn Of the interior. currency movement
in ,fayer of New Yo-k and continued gains
by the New York banks from the sub
treasury on; account Of large pf eTliurnS
on government bonds and ant1cIpatory
payment of government interest, give
feeling of assurance that the year Will
be turned without trouble in the money
market
The railroad bonds market was active.
and showed only a few weak spots, Iotal
sales, par value. 81, 419,000
All United States government bonds ad-
yanced 70 per cent on the last call.
Standard Oil. S15Q5.lS.
STOCK QUOTATIONS.
Furnished by Charles II. f. Smith q
Co., members OF the New York stock
| Exchange, Pioneer Press building, VINO
have direct wires to Chicago and-NeW
York Closing prices are bid: