The Saint Paul globe., 1900-04-12
STOCKS Still IN DUMPS
MARKET WAS RATHER SLUGGISH
THROUGHOUT THE SESSION
OF WEDNESDAY
B. & o. WAS ACTIVE
Louisville & Nas4MiIIe Was Also
Strong, but Beyoihd the Two Rail-
roads Were SIOy-Interest
In SpeciaIties.


NEW YORK, ApriL lLIThe reactionary
tendency which developed in the stock
market yesterday continued manifest dur
Ing the early hours today, when the SELL
ing was active and widely distributed.
and seemed quite urgent in some stocks
About midway of the session, however,
the pressure to sell was somewhat re-
laxed and friends OF various stocks took
them in hand and bid them up. The ad-
vance in these stocks was not met by any
great burden of offerings, and prices gem
orally tended towards recovery The
rally in prices failed to bring in any nota-
BILE demand for stocks, and the market
became rather heavy again and closed in
that condition.
Dealings were very largely in profess
sional hands and the efforts of the bears
TO force down prices and dislodge stop
loss orders met with considerable success
in some quarters The character of the
buying at the decline Indicated that COM
mission houses have orders to buy at
varying levels below, the market. There
was no appearance of last weeks disposi-
ton on the part Of the outside public to
buy at the market. Prices of Americans
We're depressed in London before the
opening here, but the level of the market
fell below the level of the London parity
and aTbitrage brokers sought stocks TO
cover sales at the higher level in Lon
don. This business was practically IaroS
In Union Pacific when that stock got be-
low OF, and was a material aid in its late
rally of over points with a sympathetic
ehect on the Pac1ncs and In a less degree
on the Whole market.
Baltimore & Ohio preferred and Louis
Vile & Nashville showed aggressive
strength and Missouri Pacific rallied well
from the morning s sharp decline Other
wise the railroad list was rather quiet and
sluggish. The most violent movements.
as usual, We're among the industrials and
spec1alties. The fact that Third Avenue
stock still commanded premium for use
In the stock loan department last night
showed that the short interest had not en-
ttrely been eliminated by yesterdays s
violent rise. Active speculation resulted
In the stock, and 1t was forced ND at one
time points, collapsed IL points and rail-
lied again points, The net gain was @.
me public was not informed in detail of
the plan for reha bilitating the propertv
erned by the necessities of the shorts
sugar was somewhat erratic at q high
er level on good conditions Of trade and
reiterated rumors of trade war settle
ment. American Steel and Wire was sub
Jected to further severe pressure. with
SYMPATHETIC effect on the metal group
generally. The resisting power developed
by Federal Steel, and its rise to liz above
Yesterdays price had. a Teviving influence
on the group. There was no news to ac-
count for the movement in these stocks.
Ine upward progress of sterling exchange
and possibility of gold exports was used
by the bears with effect The Shipment
OF $50eG in gold to rBoenos Ayres which
was; was announced today was regarded as a
ment on account by New York, of Lon
don's obligations to Argentina
Inc money market here continued easy
under the influence Of large gains by the
banks from the subtreasury. But appre
hensfon still exists that If the high money
rates In London should draw gold from
New York, money rates here would hard
en-.
The bond market was moderately active
and an a, prices were inclined to yield. Total
sales sales; par value, 81 ,6g5, ,0oo. United States
advanced Il in, the bid price,
STOCK QUOTATIONS.. as.s,
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: