The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-12-22
HEAVY TRADE IN STOCKS
BULL FACTORS STILL PREDonsI-
NATE IN WALL STREET
DEALINGS
-77TTV-
CLOSED STRONG Ir'AND ACTIVE
b
Early, Raid by the Fear Party was
Unsuccessful, and Final Prices
Were a1AAe High
NfsRf4S.


Prev.
Bar silver, New Yor4os .cS4 $50
Cali money New Y6tiE. ........5G6 4@5
NEW YORK, DC There was no
alterations III the chaEacter OF the stock
market today TRADING continued on a
very large scale, and the tone was weak.
Possibly the interest was a trile less
broad than on seine previous days
of the week The buying showed a ten
dency &c congestion in certain stocks,
and the specialized strength of a few
stocks was dominant influence in sus-
tanning prices The expectation was
rather general that a movement to take
profits would develOpe during the day
The prolonged continuance of the rise
and the imminence Of holiday both sug-
gested the likelihood of a protit-talxing
movement. Spectators, as rule, are
aVerSe to leaving their money tied I'D in
the stock MAJ ket over a prolonged holt
DAY, and loans made today carried over
until Wednesday next. The London mar
ket this morning showed depression on
the eve Of the holiday, and this en-
phaSiZed the impression of yesterdays
rather sharp selling movement near the
fore, fell upon the market at the opening
but they made scarcely more than
momentary impression. Powerful sup
Port was forthcoming at the decline and
before the end of the day prices had
turned strongly upward again The Gx-
iStence of a short interest, formed yeSier-
day afternoon, had something to do with
the resi!iency, as the bears were very
timid about leaving accounts open over
the holidays. The continued ease of mon
ey, in spite of carrying over of loans I'M
Il! Wednesday and the favorable forecast
OF the bank statement, gave the final
hlllp to the market and it closed ami
mated and strong at about the top level
the late proflt-taking sales being con-
fdently absorbed. Northern Pacific sod
ex-dividend and recovered strongly from
yesterdays late reaction, but the TOP
price was 81, which was short of yester-
days price by half point. The ex-
uaOrdlnary speculation in Northern Pa
clfic is based On the, benefit to accrue
from the retirement nof the preferred
Stock canceling its privilege to share
net earnings in excess of 4 per cent on
the common This SCALED attention to
various other common stocks whose pre-
ferred stocks are '7li7nited by terms Of
the issue in their dividend rights. Atch-
Common SS Tnion aP Pa nd so Kt2 Fa r
way We're thus affected There was re-
neWal of the advanfeooin St. Paul, and
Southern Pacific WaS0 lifted above its
former record price to near IS. Sugar had
It's period of streagtbi and Brooklyn
Transit rallied stronglYQafter early weak
ness on account of the statement of
earnings for November All of these
movements were more or less 1nauipu-
lative, but the speculation showed the
same readiness as for some time to fol-
low. quickly any markell leadership The
1A-uACdllO'.S dIG tHdL-luS movement OF
currency this week has turned strongly
in favor Of New York. and thc estimate
OF the amount received on balance fer
the direct movement by express run up
to ever $1,000, 900. In addition the banks
have gained $1,Sl300G on subtreasury
opera tons. The banks outside of New
York are known to have continued to
lend heavily on the stock exchange dur
ing the week. This gave rise to the be-
lief that the bank statement tomorrow
will Show another heavy decline in de-
posits, as the outside banks in placing
loans here draw on their deposits in New
York banks. A decline in the deposit
item would, of course. result in a
shrinkage of reserve requirements, to the
benefit of the surplus. -
The bond market continued active, but
there was. some reaction on profit-tak-
ing. Total sales par value, 81 $50, 600
LATED States threes, old tours and fiyes
declined u per cent. The The new tours adj
vanced Il per cent on the last call ~
STOCK QUOTATIONS.
Furnished 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: y.