Daily inter mountain. [volume] (Butte, Mont.) 1881-1901, 1901-01-04
FINANCIAL AND
COMMERCIAL
DAILY RECORD OF THE EAST
ERIN STOCK MARKETS AND
TRANSACTINS.
REPORT OF THE new
YORK STOCK EXCHANGE.
Railroad, Grain, and Produce, Wool
and Other Northumberland
Review Of Trade.

New York, Jan. 4.-The bulls in the
stock market turned the tables on the
bears today and tossed them high and
dry After the success of the bear RAID
Yesterday the reactionist operators were
astounded at the turn of affairs, ana
the precipitate rush to cover was an
important factor in the upward rush
of prices today.
The concentrated character of the
buying made it evident that the turn
against the bears was in the hands of
operators of unbounded resources and
skill Conjecture was excited and ami
mated as to the personality of these
operators, and quickly fixed upon the
steel magnate, with large following in
Chicago and the west, who was credited
With the effective buying movement. 1t
was supplemented by the effective eff
forts of the shorts. A buoyant rise OF
st. Paul just at noon to 1929 was re-
garded as the decisive index of the
personality Of the bull leaders st.
Paul was the first stock to show EVIL
dence at effective support this morning.
This was accepted as a danger signal
by the bears, and they were inclined to
cover. The principal stocks were opened
down / to points and selling orders
on London and from out of town. and
attacked the shares and checked the
upward turn. The story of a settle
ment of TIN sugar trade, published this
morning, created considerable excite
ment and caused a violent rebound in
that stock, adding to distress of the
bears. There were some other points
of weakness developed during the first
hour, but they We're practically elimin-
ated by the second hour, and
the bears We're in full retreat with the
whole market bounding upward.
After the opening declines. ranging
from a fraction to two points, some OF
the rallies We're as follows:
Sugar and Northern Pacific, Az; St
Paul, ~, St. Louis Southwestern pre-
ferred, Az; Erie second preferred, 5A
General Electric, "A; Pennsylvania
Rock Island and Great Northern pre-
ferred, 4 each, and an average for al
the principal stocks of between 3 and
points.
Bonds were weak, in marked contrast
l to stocks.
b. St. Paul rose within shade of 1856
which was IL points above the early
low, level, and the advance from the low
point in the majority of active stocks
ranged from to 6 points. There was
much profit-taking late in the day, but
the development of new points OF
strength served to sustain prices, while
the profit taking was well absorbed
The aggregate sales during the da!
were close to the high record in the
history of the stock exchange.
The sensational advance in the com
mon stock of the Chicago. Milwaukee
& st. Paul road was accompanied by
reports that the road was to be leased
by the Great Northern and Northern
Pacific companies on a guarantee tt
pay the st. Paul shareholders 6la pei
I cent on the common stock. 1t was alst
! reported that the Erie was TO have
| close relations with the Great Northern
| Northern Pacific-St. Paul combination
| With view to charging the eastern
company's market for anthracite coal
| 1twas further said in Wall street tina
consolidation of such a combination a.
above outlined was what prompted tn,
| purchase of the Pennsylvania Coal com
pany by the Erie.