The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-01-10
Stocks On TIE Up GRA|)E
BEARs7I IN ABLE TO STEM THE PER
SISTENT WALL STREET
ADy4NCE
MISSOURI Pfcfif1c WENT UP
$50 sgtt3} -iesssM ......e...;.-, ter
itisssS -s-
Could soE Sou sssHPg Were Touted
as About to Form Huge CONSOLES
dation, TaI<issisb 4n, the WA s
bash Railroad.
--z HAfa ~
MISSOURI PEteff1c WENT UP

e. = q
NEW YORK, Jtfnfs sA5After a short nre-
llminary contest today with-the. rsa ion
airy forces, the stock market resumed its
recent bull chara tfeE.s Sites. T here. 1yasqa
enstration Of st e1gth; the bull leaders
finding no difficulty In running prize up
by RAPID STAGES several points in, amy
stock In which they began bidding Tor
spares. The influence of. these easy adj
xanceS exercised a strong sustaining in
ftuence on the rest of the market and in
.tereSts long of stocks had no difficulty in
marketing enormous holdings without
very notable effect OH prices The bears
who sold on the market yesterdayr.in the
conviction that the cumination of the
rise had been reached and, that tire re-
ported illness. of the president might
prove the deciding factor in, p1ecipita ing
a REACTION We're forced to. cover in some
disorder The sHst aimed strenRtfa Ia the
market cannot be entirely accounted Tor
without making due allowance for the
persistence of a very large short int est
at all the present stages of the rise, TIE
borrowing demand for stocks Is proof of
the existence Of the short in crest NJ re
or less difficulty Is experienced In secur-
ing stocks for delivery on short accounts
and borrowers Of some stocks are Cbiieed
to forego interest on their money Not
withstanding the repeated baeksets OF
the bears, they were still active today.
They effected some decline at the Open
ing aided by the lower range of prices
Tor Americans in London and by the
acute weakness of a few stocks, especial
ly the National Tube stocks, On the an
nOunced projects for the building of great
competing works by the Carnegie inter
ests. This caused an opening break of
points in National Tube common and of
Ill., In the preferred. The Rubber stocks
fell 2A for the common and 3 for the pre-
ferred, and there was a drop of 3M in
Lake Erie & Western. Excepting the
Rubber. stocks there were good rallies in
all of these in synpa thy with the gen
era1 strength developed. The opEntag
dealings gave the impression that Union
Pacific had been selected as the leader
of the day, the demand absorbing no
less than $4,000 shares on simultaneous
sales. But Missouri Pacific quickly forg-
ed to the front after q momentary back
low last night, This was due to the
heavy profit-takingr attracted by ye5tsr-
days 5 point rise Fhe stock was easily
the leader of the market and was lifted
above last nights level. There we've
many ruraors ucurrenb of coming cen OIL
dations of the Southwest railroad sys-
TENS, without any authority cited and
which were met III some cases by semi
official disclaimers, but notwithstanding
these disciaimers, the so-caned Gould
28l. Manhattan aid Western Union also
e gus stocks aso vi %his6 Were successfully
brought forward il q, the advance would
were Louisville & Nashville. with a ii e
Of 358; Delaware 81 Hudson, IA; llllfncls
Central 40; Great Northern pTeIerfed,
So; the local traction stocks from 21a
to 8, outside Of Third Avenue, which rose
an extreme 915; Sugar and Peoples Gas
about 30 each; Union Pacific and New
York Central, as much, and numbar OF
less prominent stocks with even wider
gains The manipulatiYe character OF
the advance and the persistent. prof1t-
taking was so evident that the bears at
tackled the market again late i'll the cay
and forced declines running up to from
TO 8 points in several classes, but there
were good rallies on covering by shorts:
The erangers were rather less disposed
to rally than the general list and the coal7
ers were affected by proft-taSlngS
throughout The insistencej on. the part
of prominent fnancie1,s,- whose names
have been associated with the reported
ST. Paul deal that they they have no
knowledge of any such transactions i, al
a somewhat depressing effect on the
grangers and sNorthwesterns, except LOT
a late squirt in Great Northern preieIred
IF 4@. The dealings were again on a
very large scale but did not approach
There was a very active demand LOT
bonds Of Southwestern railroads., ana the
whole list showed strength. Ihe cams
were not in all cases fully m ma ;
Total sales, par value, $4,575,000. United
States refunding Is advanced IL per cent
on the last call.
STOCK QUOTATIONS.
Furnished by Charles II. F; Smith IT, e
Co., members of the New YORK 0to OSo
Exchange, Pioneer Press building, Who
nave direct wires to Chicago and New
York Closing prices are bid: