The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-01-12
NANY STOCKS ARE HIGHER
THOUGH THE DEALINGS WERE ON
A SMALLER. SCALE THAN
OF LATE
%g5As
BEAR PARTY. lis STILL TIMID
Conflicting Ruiiadfs Regarding Pos
sihIe Railway Combinations Cause
Feeling of Uncertainty
fin Wall Street.
iaknE

staeu~ Prev.
Bar silver, New York 68h G3A
Call money, NewsYnr<. .3-31S 21A-5k
NEW YORK. Jan. 1.-THE furious
buying of .Dela Ware t&s Hudson and On
tario WesterE5t16 the last half hour
of the market 1SG1etl the day on the
stock exchange FRONT something like pos
tive duilness, After the recent high
level of speculation traders were Unable
to distinguish the tone of the market
from dizziness. so strong was the contrast,
and yet there We're many notable ad-
vances in the prices of Important stocks
and scale of trading that would have
attracted marked attention previous to
last November. The recent attempts to
aWaken general speculation in the
SouthweS terms, c0mmensurated with that
which has occurred in other groups, ware
apparently abandoned today The general
decline in the buying demand led to
large selling to take profits and except
market was under considerable pres
sure from this selling. 4 growing
seeptlsn4 regarding many of the confident
statements which have circulated re-
garding coming combinations In the rail-
road world. was the foremost rnotfyl of
the selling. Some effect was produced
by the absence from the street with an
attack Of grippe OF an operator COM
monty accredited with being deeply in
VOWED on the long. side of the market,
| and whose skill and boidness in manipu-
4tlttOu are IIlucn BSnGd on for leadership
| OF the market: But these conditions led
rather to waiting policy than to any
very active aggression on the part of
| the bears: Their accounts are already
| SO extensive that the buying to cover
snort accounts by that element acts as
| an effectlve prop on the market at any
| considerable recession. The timidity of
i me pears Is also due to a prevalent be-
lief that the many Fumors current Of
| important developments In railroad con
| fact. -
The market, therefore. showed no acute
| weakness at any time, anG the profit
taxing was Well ;abserbed under the slis-
txatning power Of the. special strength.
Al Various times during the day this
was shown in the Pacii1cs, especially
Union Pacific, in bal timore & Ohio. in
chesapeake & Ohio, sNcrfolk & Western,
; and ~ NUMBER of less prominent stocks.
new York Central and Omaha on light
0eaIlhgs- The ABSORPTION of Ontario &.
western was very fargo and confident
ana was by brokers credited as actin@
for the commanding figure ia file An,
ttfracite situation. The Increase of 2 per
cent in the yearly .dfyidend on Delaware
cS 51u tI carGht f9[large short interest
and there were wild fluctuations in The
| stocks under the distressed bidding by
this element. Successive Jumps of q baif
and even full p6sqt carried the stock
again az In to to- 1879 ada tgE : reaction Of s. up
! gain is thus Il pbints The other coa:eTs
sympa thized, ESPECIALLY Ontario s. West
ern' the Readingsiai1d the Erles, the lat
Ter having been reactionary in the earlier
part Of the day The extr enc advances
We're; Ontario & Western. 81; Eric sec
end on preferred. AZ; Erie first preferred,
| 5ss, and Erie common and the Eaa 5ings
! about points each
Union Pacific rose to the best price of
the day at the CLOSING, being then 5
points aboye the lowest, but the market
generally did not close at the ton. The
indications of a gain in cash by the
was without special effect on the mar
! Ket, as the increasing ase of money has
clearly indicated an abundance Of funds
| The bond Market was firm. but nct
very active Total sales par value, S3,O25,-
United States bonds were all UNCHANGED
! on the Hast call. ''''''s'E0
Standard OIL SO5@S10