The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-10-25
STOCKS ARE ACTIVE
PROFESSIONAL MANIPuLATIoN IN
EVIDENCE IN THE DEALINGS
OF. YESTERDAY
COAL ROADS 10 THE FRONT
Decided Advances6ReEsist ered in the
Entire GroupYRe aIizing in
the NorthHksfefhs and
Pacifics.

Marcy SEW s h0R6 3 9et ;Todays stock
progress of professiqna operations in
shifting of long accounts from one group
of stocks into another by realizing Where
an advance in price has already occurred
and buying into a group that has been
quleseent The group selected for the adj
vance today was the coalers The pIaus-
ible reasons for the advance in the prices
CT these stocks were the fact that the
present years output promises to be the
largest on record, while prices are firmly
maintained at profitable level, both for
the mining of the coal and its t. anspor-
t ia to market The policy ,adopted of
several months ago brought it to the
maximum intended on Sept l. This has
had the result of keeping I'D 4the, demand
ali tfifough the summer months instead
of throwing the requirements for the
whole winter ON the period Of cold wealth
er, but confidence is expressed that the
business will CONTINUES large through The
winter, and much was made todaYsof rer
ports that only lack Of sufficient cars
placed limit upon the anthracite and
soft coal movement. While the eff rt
was rather obvious to, concentrate spac-
ulative attention upon these stocks and
the causes which moved them, there was
enormous realizing proceeding in St Paul
Union Pacific, Southern Pacific and the
Vanderbilts, which have been advanced
by the recent manipulation. Rather less
was heard of the Northern Pacific set
tlement and the working out of extensive
additional plans in the tranScoutirental
large outstanding short interest is an evil
dent factor and probabyaa motive for the
operations for the advance. The failure
of a small brokerage house, not a mem
Der of the Stock exchange, which was
caught short of some of the stocks re-
Gently advanced, was an indication of the
distress of that element The. heavy
profit-taking in the Pacftfcs and st. Paul
was emphasized by the decided Weakness
of Peoples Gas on threats of continued
hostile law suits. The seek fell an ex-
treme 8 points, closing at about the low
est. Amalgamated Copper was also de-
cidedly weak early in the day, the per-
sonality of the sellers giving the appear
ance of inside liquidation. The stocks
small net gain. There was rather more
urgent selling of the United States Steel
stocks than for some time past, but the
decline was restricted tosya fraction and
that in Lackawanna pacfled s, Delaware
& Hudson and Baltimore & Ohio 3, Chi
cago Great Western preferred AIS and
others of the coalefS- between 1 and 2.
Part of these advances We're yielded be-
fore the closing, which WAS heavy, and
near the lowest for some stocks. st.
PauIs extreme decline was 81 Chicago
& Northwestern 212.3 Union Pacific Us
and others a point or over! Conditions in
the money market We're without notable
change. Inc subtreasury on its routine
operations mas retrieved lis early cOntrl-
buttons to the markets on account of
payments for gold deposited at Pacific
coast points. There was a pause in the
advance in foreign exchange. owing to
the large receipts of cotton mills. APP
parently there was renewed selling of
long sterling, with a view to covering at
maturity. The weekly statement of the
Bank of France showed strengthened
condition, but money rates continued hard
in Paris and over $1,0o0.000 was withdrawn
from the Bank of England for shipment
to Paris, adding to the probability of an
early advance in the Bank of Englands
rate.
The railroad bond markets continued
quite active, but realizing in the con-
vertible bonds made it Irregular. Total
sales, par value, $3,525.000. United States
bonds were all unchanged on the last
CALL