The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-11-16
SPECULATE FOR RISE.
PROFESSIONAL HEARS BALKED IN
AN ATTEMPT no SEND PRICES
DOWNWARD
REALIZING OF PROFITS CEASES
Covering of short Contracts by the
Bears Was a Feature Through
out the Day-afany Stocks
Make Recoyeries.
CLOSING.

Closing.
Friday. Thurs.
Bar silver, New York .5sA 567s
Cab money, New York. ela-5
NEW YORK, Nov. 15.lThere was some
further effort by professional bears dur
ing the early hours of todayss stock mar
ket to renew the decline in prices which
was in force yesterday, but the evidence
was pretty conclusive that the urgen.
selling to realize profits was. cempleted,
and the bears renewed the covering OF
shorts. which was a feature of the last
hour Of yesterdays market. The demand
to cover short contracts was consid-
cradle factor all day in the strength of
the narketssba there We're evidences here
and there of "a renewal of the specula-
| ton for rise, OF of buying of substan
tlai character for reasons not disclosed
This was notably true in the local trae-
ton group, Metropolitan street railway
rising 81, Manhattan 2% and Brookfsn
'Fraytsit 15s. The buy ing of the Reading
stocks was on large scale and caused
Sympathetic strength in some of the
other coalers. The copper stocks made
strong recoveries to the Accompaniment
of reports of improving, conditions in the
trade. Anlafgamated Copper was lifted
over points and Anaconda 13s There
also was an advance of 81 in American
Smelling, and of ~ in the preferred
The Pacific coast stocks made notable
recovefies from recent heavy declines
and there were points of decided strength
anlcng the Southwesterns The more
cheerful prospect in the money market
WAS the dominant Influence in the re-
cevery of stocks. The fact that no gold
vas engaged for export to London to-,
neIrow relieved an apprehension on thar
score, a further lowering in the buyine
price OF gold from London this morning
and the easier tone of the London mar
ket. wiping out the margin of profits on
the transactions 1t is evident that Lon
don is not uneasy over the insufficiepcy
OF Its present money resources, so long
as Paris Iefrains from withdrawing cred
its. The belief prevails that Further
gold will go from New York to Paris next
week, although there is relaxation of
the pressure at@that point, for gold re-
dected in the advance in sterling ex-
change today of full centime in the
pound sterling. The higher rate for mon
ey in New York is also deterrent in
fuence. But foreign exchange in New
Iork continues very strong both for
sterling and Paris cheques Judged by
today's preliminary estimates, the heavy
gold exports. by Thursdays steamer have
been more than offset by receipts from
Other sources, SO that the banks are
statement. Up to Thursday night the
banks had lost to the subtreasury IN
clud1ng the payments for the gold eX-
ported, $S49000 and this did not include
TIE credit to the banks on account Of
yesterdays government bond redemp-
items, Which involved the payment by the
,subtreasury of about 81 000, 000 By the
regular express movement to the interior
the banks have gained on balance about
$1,5oe, 600, the receipts for the week hav-
ing increased to about double those of
last week, while the shipments were con-
siderably less. The sfoan item OF the
banks remains to be reckoned with TIE
market closed firm at considerable let
gains, scattered through the list.
The railroad bonds market was mod
serately active and Irregular in its
changes. Total sales par value, So, 275. G09,
United States bonds were all unchanged
on the last call.