The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-10-26
STOCKS CLOSED At AI()SS
THE USUAL Result FOLLOWED
THE RECENT GENERAL HULL
CAEEPAFGN
4 T5us
SUGAR STOCK BROKE RAPIDLY
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Sg-E
While Brooklyn fsaptd Transit ana
Union Pacific, on Very Heavy
Dealingsf Tossed at
Net Gains.
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SUGAR STOCK BROKE RAPIDLY
Bar silver New York;. 6lls IS
Call money, New York. .S112@412 3@5

la Close. Day.
Bar Bar silver silver New SHn YSE dr S,A s.
NEW YORK, Oct a25.@According to the
phrase of the professional traders in
stocks a reaction, IN prices was thee
strenuously contested by the bull e,e-
ment but their effort proved futile.
and prices generally show losses on the
day. A sudden and characteristic break
in Sugar in the final hour had not
little to do with the decisive course of
the market downward. Sugar recovered
from very heavy liquidation after it's
recent sharp rise, which was not ac-
counted for by any news. Today's break
was equally without explanation, except
the fact of the previous rise and the
resulting rallying. The drop in Sugar ex-
tended to 81 points. The weakness was
not extreme at other points in the list,
profit-taking having proceeded in an or
6erly way during the earlier part of the
day, with serious effect on the prices
In the late dealings manipulation by
bears was in evidence, stocks making
wide declines on light transactions The
theory which professional operators Of
fer to explain reaction like that OF to-
day is that stocks, as result of a
steady and prolonged advance, had pass
ed from strong and organized control in
outside, who do not command large re-
sources and who lack great skill in spec.
ulative methods to protect their holdings.
TodayS disposition to sell had no &C
companying unfavorable news to ex-
plain it. unless the fragrant lack of con-
firmation of the recent rumors which
have been used to advance stocks could
be called bad news. This class of ru-
mors centered about Brooklyn Transit
nd of oh loo
of control of Metropolitan Street Rail
way and allegations ofiia newly acquired
interest by the Pennsylvania railroad
in the property The stock was pushed
up an extreme "a on these rumors, but
fell back "a in the late selling. In the
railroad list Southern Pacific was the
conspicuous feature, with an extreme
advance of nearly 2 points, and a net
gain of IA. The new Chicago & Alton
securities, which were traded in for the
first time, advanced fsteadily for the
common stock, which rose s. while the
preferred recovered "a decline. There
was nothing in the money market to
disturb speculative borrowers. The max
imum rate for call loans was Az per
cent, against per- cent yesterday, and
the rate yielded toc 319t per cent in late
dealings. There Wer6 no deposits at
the subtreasury for transfer to the in
terror. Sterling exchange Steaded Slight
ly on the firmer noney market in Lon
don, which resulted from the weak re-
turn of the Bank of England. But the
improvement in the condition of the
Bank of France was really Of greater
Importance as Paris is looked to to con-
serve the money situation. The French
institution gained in gold during the
week $2,175. COO, while its note issue was
contracted $9,41G000, and loans and dis
counts of the banks were repaid to the
extent of $3.50, 600. lit is evident that
New York can draw further gold if it is
desired, but OF a total already engaged
abroad for import of $10,9O0,0O0, less than
81, co., goo mas been actually received and
placed in4the banking, reserves. = The rest
is in transit and will not become avail
able
The bond market was not very active
today, but prices were firmly held. To-
tai sales, par value, 81, 500,0tO. United
States SIS advanced ~ in the bid price on
the last call.
STOCK QUOTATIONS:
Furnished by Charles H: f. Smith Sc
Co, members of the New York Stock ex-
change, Pioneer Press building, who have
direct wires to Chicago and New York.
Closing prices are bids