The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-01-31

NEW YORK, Jan. 30.-The stock mar
ket threw off it's lethargy and inertness
today in very impressive manner. There
was quite an active demand for stocks
from the start in the shape of buying
orders accumulated, and the demand
gathered volume and urgency pretty
steadily throughout the day. The rise
was so considerable at some points as to
invite profit-taking, but offerings on this
account were absorbed with such conf
dence that the selling soon ceased and the
market closed with an upward course or
prices and burst of animation at the best.
prices of the day.
Although there was substantial increase
in what Wall street calls outside interest,
meaning orders coming from different
points in the country, as well as from
sources In the city outside the ranks of
the habituaf SPECTATORS, the market
must still be described as largely profess
sional. The strength was also to great
extent spotty. That is to say, compare
lively few stocks or groups of stocks
rose buoyantly while the large part OF
the list moved in more sedate manner
but still upwards. But while this Is true
of perspective view of the whole mar
ket there was nevertheless a notabie
broadening out in speculative interest.
not only through the usually active list,
but embracing many dormant stocks.
1t has been manifest for some time that
the floating supply of stocks was small,
and that prices moved easily on con-
siderable demand, but this and everything
else seemed unavailing to invite any
considerable demand Even the obvious
unwiliingness of prices to go down and
the determined ignoring of depressing In
f1uences reflected from the London mar
ket have seemed until today to be viewed
with apathy by the speculative public
These events have, of course, tended to
build up a confidence in the stability OF
values, and apparently it needed only
some special incident to crystalline senti-
ment into an active buying movement
The action OF the directors of the
American Steel and Wire company yester-
day in setting aside a years dividend
for the common stock at the rate OF Z
per cent and the handsome showing pre-
scented in the balance sheet Of last years
business was the effective influence
There was a rush to buy American Steer
and Wire at the opening, and quotations
were d full point apart on running sales
The stock scored q subsequent advance
which carried 1t up an extreme points
It's net gain is ass.
This aggressive strength had marked
sympathetic effect on all the metal stoeks5
all the more so on account of the eX-
treme depression from which they have
long suffered. There was a large demand
from an eager short interest in Sugar,
and the prevailing cold weather resulted
in sudden jump in the price Of coalers.
In the. railroad list the Changers and
all the Pacific and Southwestern stocks
were in notable demand, but the whole
list was strong. The only thing to ac-
count for the sudden drop of 111a in p,
c., G. & ST. l.. was a report of a new
Pittsburg-Chicago line in contemplation
Chesapeake & Ohio was heavy, perhaps
in sympathy. The first two hours of trad
ing recorded as many sales as the recent
average for a full days business. While
the market is stir largely professional
the caliber of the operations is obviously
much heavier than those recently in evil
dence, individual transactions of a thou
sand shares and upward being frequently
recorded.
Bonds showed increased activity and
were strong throughout. Total sales, par
value, $1,940000. United States old As
registered advanced 49, and United States
old As coupon u in the bid price.
STOCK QUOTATIONS..
Furnished by Charles III. F. Smith g.
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: