The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-10-04
BEARS WERE TIE VICTIMS
BIG BULLS TOSSED THEIR All.
OVER THE STOCK Elk
GRANGE
WHOLE LIST CLOSED HIGHER
Heavy Operators, Get Into the Game
With Disastrous Resu.ts
to the Large short
Interest.

hJS Close. Day.
Call money, NewI MoEl1 eA-1s 2-2%
1-9s-
NEW YORK. Oct 3-WaH street was
| co1slderabIy puzzled by the resumption
today of aggressive tactics for the adj
vance, after the bull campaign protected
on Monday, seemed yeste: day TO be aban-
doned But, while the motive of the
Duoyant rise was difficult to discern the
force and proportions of it were suffl-
GENTLY impressive to take the courage out
OF the bear party and to induce heavy
covering all around The small bears
who had renewed operations for. the de.
cine yestei day, were the first to fall VIC
inns to. the maneuVer of the bulls who
however, gave Indication of being after
larger game, and pursued their advap-
tage with great confidence and Astounding
resources, Ihey> drove some. long-stard-
ing shorts to cover, and ultimately effect
ed a buoyant rise in the whole market,
which closed strong and active at the
highest level of the day, and at net gains
ranging from to over points for
large number of active stocks Orenfncr
declines in a number of stocks seemed
only tc afford the better. vantage ground
Tor the advance, which was thereby made
the more impressive The acute dapres-
sion manifested by few Industrial stocks
was without effect in deterrinpc ltlle5bjlll5
from their manipulation in the mai ket.
INQUIRY or commission houses fails to
md any trace of buying orders from out
side sources and opinion is agreed that
today's movement was practically in pro-
fessional hands long persistilig bull
interest Is supposed to have been Joined
by ome-of the powerful operators who
have recently returned to the street for
campaign against the. shorts
Stock which has recently been the spe-
Gal target for bear attack reflected the
most urgent demand today Missouri Pa
cific, which is a leader of this class, show
ed gathering strength during the day, in
connection with yesterday annual meet
ing of the stockholders in ST. Louis &
southwestern railroad, the action at
which IS supposed ITO foreShadow more in
innate relations between the Iron Noun
ways. From the early low point Missou-
RI Pacific was carried up 31s per cent
burlington also reflected a demand for
large outstanding lsfiUrt interest and was
Ohio, Union Pacific and Louisville were
also prominent in. this class but the
movement gathered force and breadth,
and ultimately spread through the whole
list. The most buoyapt period of the mar
ket was due to the circulation of a ru-
MGR that President Mitchell Of the Mine
Workers union, had called the coal strike
off. which completedathe discontinue of
the shorts. Even Tennessee Coax which
had sold down 314fUn the fear that no
dividend would be declared at tomorrow's
meeting, rallied points, and Sugar, which
had fallen 2B on account Of the DONOR
allied condition and Ithe reep cutting in
prices in the refined ssugar market. raj
lied 1Ss. The continued weakness in Ster-
ling exchange was used by the bulls as
an argument for the advance in stocks,
on the ground that imports of gold could
not long be deferred A further easing
Of discount rates in Berlin gave strength
to the argument. but in London there
was a significant hardening of discount
rates on an. expectation that the Bank
of England will reduce its rate tomorrow
The rate for time loans continued firm.
and the minimum rate for call loans was
reduced from to "a per cent.
Bonds were not much affected by the
activity in stocks and price changes were
mixed. Total sales, par value, $780, 900.
bid price. - se