The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-09-27

Bar silver, New York ........62% 62A
Call money, New york;. 1A-2 1A<e
NEW YORK, Sept 26-rThe stock mar
ket was more feverish and irregular to-
day than for many months. The move
ment of prices was very wide, and
the action of the market indicated that
it WAS being tested by professional OPP
orators. The rally which set In the first
of the week seemed to have eliminated
during the morning session, and the
over-enthusiastic bulls who attempted
to bid up prices against the outstanding
short account found themselves burdened
with increasing offerings TO realize in
stead of driving the shorts to cover.
They therefore allowed prices to drop
back and the market fell into dullness at
about last nights level. The bear party
apparently made up their minds that
the elimination of the short interest had
so far weakened the technical position
of the market as to warrant a fresh
Quoted with determination and showed
the command of large resources. North
ern Pacific was singled out as the spe-
cfdI object of attack on account of Pres
ideltt Mellen'S assertion IN sthe annual
report that the prospects of business
are not so bright for the coming year,
owing to the shortage of spring wheat.
Practically the same commentary was
published during the day. Northern Pa
citic had failed to share In the early
strength. and although there were 9TH
on the down grade, Northern Pacific
fell farthest below last nights level of
the railroad group. The selling of North
ern Pacific was supplemented by pres
sure against Missouri Pacific, as there
are supposed to be large long accounts
existing in that stock. The raid was
successful IN dislodging stop-loss orders
and TIE whole market fell away with a
violence. The leading stocks were point
or more below last nights level before
the decline eliminated, The early adj
vance had shown gains of a point for
many stocks. The nervous condition OF
the bears was striklngly shown in the
violent recovery of the last hour of the
market when 81 runlor got into cireuIa-
tien that the strike ofi.eoal miners mad
to Chicago, and though ipfcmpt measures
taken to secure authoritative informa ton
on the point failed to- confirm it, the
bears bought stocks to cover in disorder
1y haste. Some violent. fecoveries were
the consequence, Reading first preferred
ralIyfng 3A on wide jumps, and New
Jersey Central g. The covering move
meat extended Throughout the list and
prices swiftly retraced their course to.
almost the top level tn many cases. The
market closed considerably excited and
strong with a large number of stocks
miners settlement applied only to one
mine where peculiar eo ndftions exist did
not become known until after the close
Of the market. What effect the actual
Facts may have remains to be seen. The.
day was barren of any news develop
ments which might change the specuIa-
tive situation. The continued weakness
eff sterling exchange begins to arouse
conjecture again a S to whether relief
for the money market is to be looked
for by gold exports.
The bond marker was dull and cor
tIpued Irregular Total sales par value,
$l,l3o9Ul United States rev 4 s advanced
e, and all others issued Il per cent In
the bid price.