The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-11-08
REALIZING is HEAVY
TRADING AT NEW York BROADER
AND MORE BIyERsIFIED
In STOCKS
BEARS ARE FORCED TO COVER
In specialties Which Have Been
Under Pressure Recently, and
Some Doubt Lineers as
to the Big Deal.

NEW YORK. Nov. 7.-Today's stac,,
market was much broader and more
diversified than that of yesterday AMI
the. aggregate dealings rose wen above
yesterday to near a million and quarter
shares. There was enormous realizing
in the stocks which he'd the advance
yesterr,d I'd especially " in, Union Pacific
terday's closing level practically Ill day,
falling at one time 15s for st. Paul a:!d
rs for Union Pacific. The heaviness
ia on comparatively light transactions.
taken in connection with the reaction of
the two stocks previously named, it
would be supposed, might indicate doubt
the more SO as no authorized statement
of the terms of the settlement or even
of its actual contamination can be had
from any source.
speculative circles that the agreement
is in fact perfected although nothing
on the subject but acquiescent smiles
or vague limitations can be had from
insiders. The confederation offered by
the tape is considered conclusive, and
also that Union Pacific and st. Paul are
to benefit substantially by the agree
ment, just how in the case Of the .at-
selling of those stocks, therefore, Was
accepted as due to mere realizing Of
speculative profits while the market cun-
tfnued to advance with YigOr at other
points.
The forcing to cover of the; bear, in
terest in some of the specaites recently
under pressure was an important inlsu-
ence in the advance, conspfcuously So in
Anlalgamated copper, sugar and Pao-
pies gas. Among the transcontinentai
stocks the Atchisons alone continued the
advance with any great SHOW of energy.
The common rose at one time 2S and
Southern Pacific got IA over yesterday,
but it lost it all on the reaction Cams
of 81 in New York Central was feat
ure of the market and lifted with it II
number of the Junior Vanderbilts. Late
iy current rumorS of a pending concen-
tration of the system and increased dis.
tribution of profits were revived in con-
nection with the movement The State
ment of October earnings for New York
Central showing an increase of Sevelf-
teen per cent over those of last Octol; ,r
was also an influence A number of
fourth week in October emphasized the
impression caused by yesterdays state
ments. The coal carrying roads, both
of hard and soft coal territory, were
one to two points. The United States
Steel stocks developed strength at gains
of a point for the common and rs for
the preferred on glowing accounts of the
ramors flying of a determination on the
part of insiders to advance these stocks.
but the rise met with very heavy reaiiz-
ing and the gains We're largely wiped out.
,
general before the close and the advances
were curtailed in all points and entirely
wiped out in few cases. The pay
ments of the subtreasury in redemption
of bonds and for the deposit OF Ausrra'-
dan ana klondike gold at Pacific coast
points are SO far otfsetting the drain on
other accounts that the money question
is kept in allegiance. The very substan-
tial recuperation for the week disclosed
by the bank OF France also served to re-
ieye apprehension over money affairs;
as Paris had been the real center of
attraction working toward depletion of
gold supplies at other points. The small
Increase of the banks gold supply Ger
the week has been supplemented by u
decrease of over al, 9V0,tou in bills dis
counted and a contraction of nearly &c.
tv0,tv1 IN it's outstanding circulation. The
market closed easy under the influence
of realizing. 5se
The railroad bonds market was very
active. but the reaction Union Pacific
convertible bonds made an otherwise
strong market irregular. Total sales par
value S6,oIo,oo0 United States bonds
We're all unchanged on the last call.