The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-12-20
TRADE WIS HEAVY
STOCK BROKERS' HAPPY OVER
CONTINUED NALL. STREET
ACTINETY
BULL MOVEMENT KEEPS UP
Though Signs ArssS Not Lacking That
the High Points En Advancing
Prices Has Been
Re3chsG.
Bar silver. New York {........ 81 &
Call money, New yNefk ..,..4-5 f.:

o . ? .
NEW YORK, DenI ad9.-There was no
appreciabie let up ina the furious activity
III the stock marketsk0day, or in the ex-
ceeoingfy broad and--varied trading. A
quick market was offered for almost any
volume Of stocks Ssand very notable
strength continued at various points IN
the list but the burden of the profit TAX
ing sales proved rather heavier than for
some time past and made more general
inroads upon pricesF The market fairly
turned reactionary throughout at one
time, under the influence OF some rather
violent breaks in special stocks. Tin
plate was the most effective of these
wnen it suddenly Stamped 81, after show
of early strength. A drop-of Ia points in
its way, but had little effect on the mar
ket: The reaetiOnary- tendency. of the
Junior Vanderbilts developed that specu-
Iators had been taking rather too san
companies. Cleveland, Chicago & ST
Louis. and the New York, Chicago 81 St
Louis stocks fell back heavily, although
some went up briskly in the morning
An; effort was made to reclaim the bull
| position in the final hour by sudden ad-
yances in Northern Pacific, Sugar,
Illinois Central, General Electric Chi
cago Terminal Transfer stocks and the
Wisconsin Central stocks. The advances
in these above the low points ran from 2
to 652 points. Prices did stiffen in SYM
pathy, but speculative enthusiasm was
not fully renewed, and the market closed
| very IeVerish and unsettled with a point
! OF more lost of these sudden gains. Even
| the Erie stocks; which have been the real
| backbone for some days. came to a
pause today and the first preferred, after
| rising ~, reacted IA with a final frac-
! tlonaI rally. There have been such reac-
| lions from top prices many times before
| in the present movement of stocks. and
| the real lack in today's market seemed
! to be that the new stocks which are
| available to be rushed up as sustaining
/ forces i'll the market are growing exceed
| 1ngly scarce. Pretty much the whole list
has been exploited. s III the course Of the
| present SpeculauOT.@ 1.-THE character of
| the market otherwise than in these oar
! ticulars, was not IzmateriaIly changed
| Professional Operatorsn are constantly on
| the outlook to take the bear side of the
market with the elimination Of the rise,
and they sold freely or the short side to-
Gay, as they have hd0ne tor several DAYS
| past but they also lowered largely be-
| fore the close. .TNheS general buliish al
thusiasm up TO THIS time has proved too
much for any restraining influence. A
| sustained bull movement always means
| prosperity for the Large stock market,
whose trade it is to- operate in stocks
| and coming in the tide of the holiday
| Period, the present Ine%ement is specially
| popular The demands Of the speculatl ten
| upon the money market have made no I'M
/ preston yet upon money rates, a develop
| lnents which would prove an effectuaI
| check upon excessive speculation. Lon
| don was quoted to be buyer of 50 900
| SHARES of stock Oh balance here today but
| the true origin of this buying is omen to
! DOUBT IN view of the advancing money
ma rket in london, and the failure of the
dealings to affect the sterling exchange
! market in New York. The initial deal
/ lngs here in the stocks which were most
| affected in the early London trading were
| on an enormous scale. In Southern rail-
| way; 1900 shares changed hands at once
! at The openings in Southern Pacific G. $50
shares in Kansas &, Texas preferred
! 431 shares, and In Erie 1st preferred
! 400 shares. The higher money rate in
/ London today was effective in turning the
I continental exchanges in favor of Lon
den, but 1t Is; thetcommen7 expectation that
| the Bank of England discount rate will
| be advanced tomorrow, as the open mar
ket rate HIS risen wen above tfie bank
! rate, and borrowers are J5resorting5 very
/ largely to that SinStftutioTi =
+ The bond market was active and
strong, Total sales, par value, SIS, 200. 600,
United States refunding Is advanced "a
and new As declined 1s FER cent on the
! last call,