The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-01-10

Bar silver, New York.......... 81 59
Call money, New York ......... 6k 6q6
NEW YORK, Jan. S-The stock mar
ket was practically inert during the early
part of the session today, the buying de
mand falling to scarcely appreciable pre-.
portions. The bear traders watched this
inviting field with longing eyes, until the
attraction became too strong for them
and they put out selling orders through
the greater part of the list. They sue
ceeded in effecting very marked declines
and bringing out a certain amount Of Of
ferings by uncovering stop loss orders.
But the volume of the selling was not
important and the success OF the bears
was due to the Iistless attitude of the
public towards stocks and the indispo-
sition of inside people to support prices.
There was no positive incident In the
days event for the bears TO base their
operations on. Their conclusion was
rather a negative one as to the chances
of any favorable change of the present
depressing influences. 1t is obvious that
capital has no inclination to move into
stocks and it is noticeable that the quiet
investment absorption, which was
feature of the market in the last week
in December and which continued In the
first week in January, has to all intents
and purposes ceased at the present level
of prices. A series of encouraging events
have afforded pretty good test of spec
ulative sentiment by being totally lg-
nored There have been new entries to
the list of dividend paying stocks and
increases In the dividend rate Of estab-
lished dividend payers.
The money situation has ceased to
cause anxiety owing to the return flow
from domestic centers and the cessation
of the drain on the subtreasury. Money
markets abroad have come through the
crisis Of the yearly settlements and are
steadily working towards ease, so that
the drawing of gold from New York Is
now believed to have ceased, at least for
the time being.
Far reaching accomplishments towards
llarmonizing great railroad systems have
been announced and disastrous trade
wars have been patched up according to
all appearances. The small effect pro-
duced by all this important development
is cited by the bear element as lndlcat-
ing small hopes for any advance lii
prices. There was a small opening ad-
vance in stocks In opposition to the heaV-
mess in London and in sympathy with
strength in Sugar and Brooklyn Transit.
The almost entire disappearance of buy
ing demand, In spite of large offerings,
then allowed prices to gradually sag UNI
last two hours which forced prices easily
and rapidly downward.
There were a few feeble rallies, suffi-
Gent to cause some irregularity but the
tone In the main continued weak, until
the close. The dividends in Louisville
and Federal Steel common were not an
nounced until near the close, but the
bears counted upon their exercising an
unfavorable effect as not being UP to ex.
pectations. The possibility of further re-
verses to Great Britain in South Africa,
and rumors Of foreign complications In
volving further embarrassments for
Great Britain were used with effect.
The bond market was dull and heavy
in sympathy with stocks. Total sales
par value, 81 ,255, 0O0. U. S. old as reg,
istered and old As coupon declined u, and
the IS coupon, new is, old As coupon, ana
SIS registered a. in the bid price
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: