The Saint Paul globe., 1900-04-11
BEARS WERE OUT IN FORCE
BEAT DOWN PRICES DESPITE THE
EFFORTS OF BULL ELEMENT
TO STEADY MARKET
SOME SENSATIONAL ADVANCES
They Were Followed by RecesSions,
and the Result OF the Days
Business Was IL Decid-
ed Rear Victory.

L
NEW YORK, April 10.-AIovement of
prices In todays stock market largely
represented a contest Of speculative forces
for supremacy. The forces of reaction
finally prevailed and the market closed
decidedly weak. and at level generally
below last nights close. This result was
achieved after many vicissitudes and ex-
treme irregularity, but the mere fact of
the presence of an aggressive bear clique
in the market served as q deterrent to
the buying demand from outsiders, which
has constituted the underlying strength
of the market.
Commission houses report large fall
ing off IN the volume of orders which
have made the market open for many
days with rush to buy, and which
served to conveniently absorb the profit
taking sales OF the professional element
This class of orders has either been with
drawn or has been placed at level Of
prices below that now existing.
The operators for the decline have not
yet succeeded In bringing out any very
heavy volume of offerings, but they work
in the confidence that they will reach
stop loss orders which will precipitate q
sudden drop all around. Their efforts
We're contested today by pool operations
In number Of stocks and the continued
demand from London for stocks was
against them. But the operators for q
rise seemed to lose courage towards the
close or the day and realizing In stocks
which had shown strength was very gen.
eral. These included in the railroad list
particularly the Baltimore & Ohio stocks.
Missouri Pacific and other Southwestern
railroads. Norfolk & Western and some
Of the coalers.
The industrials and specialties were ex-
tremely active and irregular under the
influence of special causes Sugar rallied
sharply from an early decline on the an
nouncement that the company's principal
competitor had advanced the price of re-
hned sugars to parity. The stock sold
off again with the general weakness of
the market. Third Avenue shot up nearly
10 points on the announcement that its
bond issue had been placed. A long
standing short interest was forced to take
losses and close out. after which the stock
relapsed somewhat Realizing by the
BROOKLYN Transit pool forced the stock
down AZ points from the early high level
Inc metal stocks were under bear pres
sure, especially Steel and Wire The
pears circulated rumors that difficulties
had been encountered In the projected
listing OF the stock on the London stock
exchange. Continental Tobacco suffered
from rumors of a poor showing of earn
lngs made IN the annual report which is
e&pected. The, Pacific stocks suffered es-
pec1ally from bear pressure and realizing
and the grangers We're somewhat affected
oy the forecasts of the government crop
report which had bullish effect in the
Wheat market The signs of DISCOURAGE
ment on the part Of the manipulators for
the advance accentuated the reactionary
tendency as the day progressed and some
result. ~
A further rise in sterling exchange to
wltnln traction of the gold export point
Iea 10 discussion of the prospect of an
outward movement OF gold The con-
unued ease of money here would favor
spcn movement but the taking up of
the lnstallment of the British loan, which
stiffened today's money market in Lon
dons may be followed by a relaxation in
money rates there and a sympathetic re-
sponse In sterling exchange here.
The bond market was noderat civ active
and price changes were irregular. Total
sales par value: $2,2OO,O0O United States
new As declined y and the old As ad-
Fanced 7s and the 5s II in the bid price.
STOCK QUOTATIONS.
Furnished by Charles H. T. Smith e.
Co, members of the New York Stock ex-
ehange, Pioneer Press building, who have
9lrecL o1IN wires to Chicago and New York
Closing prices are bid: