The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-12-15

and the money supplsa r6pIenished by a
refuX of funds by disbursements of divi.
dends and interest hot the large en-
croachnent making on the money market
has causing hannting dread that prices
IN the stock market were liable to be. top
pied over by q squeeze IN The money mar
ket and a forcing of speculative Ii,iui-
datlQp.. 1t was not until late today that
a solution of the market enigma was Of
fered IN 1ntlmation that the losses by tlle
banks during, the Week,-Nhich are con-
clusively shown by The known moves of
money has been offset by a gain Of over
S4,u 10000 from some focal source. This
lnttmation, coming onptop of a series of
favorable developments threw the ma -ket
into a state Of boiling enimaton and
buoyancy. . The eager buying sdemaa1
came from all sources, professional bears
who We're short of the market competing
anNiously with the rampant bulls who
distributed their buying order; With O.
lavish hand all through tho list The
contrast was, a striking one, with the corr
dltions at the close last night, when not
even the phenomenal advance in the E. lie
stocks was able to overcome the ureaSi-
ness OF: spectators. over the palpable
showing of the absorption by the sub.
pletely wipe out the surplus reserves OF
the. banks! The misplaced confidence of
bear operators in lasta.nig gifts selling
movement was an important factor in
emphasizing today's advance: The full
strength of the market WAS ny no Toeens
manifest in the early dealings, ALTHOUGH
lie CulpuISI III lie w u DASH SECURITIES
had a fortifying effect. The full strength
Of the market was by no means n anifest
in the early dealings, althnueh the cut
burst in the Wabash Securities had a
fortifying effect. The absorption Of the
Pennsylvania Coal company in behalf Of
the Anthracite group was q continuing
influence and was Helped by this morr-
ing.sl announcement. Of the accession Of
very important reports to the Erie Board
of directors. The effect was not directly
manifest in the Erie stocks, which were
rcactiondry on pTotit-taking,5 but the
clear evidence afforded of the persistent
policy among the controlling. interests Of
important railroads towards consolid2-'
ton and extension of ipf1rence and rep !
throughout the List. The coalers vera
first affected as being most inlmeGiateiy
concerned and the movement spread 20
the central traffic connections Of thel
trunk lines and to all minor Or connect-
ing railroads in which any community of
interest or ownership could be traced It
Would. be useless to try to specify OF
movement, as practic ally the whole mar
ket responded. Even the industr ais ana
specialties which hung back in the early
dealings recovered buoyantly to ABOVE
last nights close. ST. Paul TosG near'y
A points and long list Of rail- Dad sto ak5
aGX anced from l to 3 <f40iatS. just what
is the source of the special movement OF
cash which has offset the weeks outeo
to the subtreasury isl not definitely dis
clos ed, but the belief is general that it Is
connected with the payment, of the Stan
dard Oil dividend which was due tomor-
row and which amounts to $4,000 go The
fact that Amalgamated~ Copper w&s
almost alone in maintaining tone did not
seem to alter this suppression. The con,
vietion that some of the. most powerfn
financial interests in the country intend
ed to foster easy conditions in the money
market and expectation of benefits of
next week from the payment Of antics
pated government interest were the final
effective influences in the buoyant out
burst which ended the day.
= Tie bond market showed q large vol
u1ne of dealings, and nrices advanced.
the securities most notably affected bsinS
of the same companies as those in the
stock market. Total sale, par value,
IS, $50 Geo
United States bonds were all unchanged
on the last call
STOCK QUOTATIONS.
4 FINISHED by Charles H. F. Smith &
Co, members of the New York Stock
Exchange. Pioneer Press building, who
have direct wires to Chicago and New
/ York Closing prices are bid