The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-04-18
BEARS MAKE GOOD FINISH
TWO FACTIONS IN WALL STREET
WATCH NARROWLY EVERY
POSSIBLE OPENING
DOUBT AS 10. BURLINGTON
Spectators Uncertain Rega riding
the Reported Merger With North
ern Roads and Its Probable
Ultimate Eject ON Prices.


NEW YORK, Anrii 1.-THE DAYS mar
ket was excessively irregular. showing
the decidedly nervous state of mind w ieh
SPECTATORS have come to be in who are
long on stock, as well as the watehful
mood for weak points to develop of those
who are short. The battle between the
two elements waged all day with vary
ing success, and the market closed with
thu issue apparently undecided, although
q review of the net changes for the day
will show that the bears had the best
of the contest, taking the day through
The bulls contested the onslaught OF
their opponents with vigor and defermin-
ation and had fairly secured the upper
hand of them after the opening drive
against the market. Even after the last
dip in prices, which carried quotations
to the lowest of the day, the bulls were
still in full array, vigorously support
ing prices here and there and boldly
manipulating advances in number of
stocks. The only point of positive
! strength in the list was in the South
western railroad division. An effort was
made to revive speculative excitement
western merger. During the period Of
the first retreat Of the bears the move
ment in this department proved an eff
fective leadership in the market, led bv
Central and some of the other trunk
lines also showed signs Of strength, and
Sugar, Peoples Gas and the Smelling
stocks made effective auxiliaries in the
demonstration by the bulls Very little
was left, however, of these advances
after the final reaction, but the Atehisons
We're moved vigorously upwards the com
mon rising rs over last night, on the
final efforts of the bulls to turn the
; market. Prices rallied while the room
! shorts were uncovered, but went off
closing unsettled and irregular, With soma
stocks at the lowest, There was a dis
position to take speculative profits, re-
careless of news Developments. It was
( cf in tioa =
had been Influenced most by the Burlinc
ton deal rumors, and in Analgamated
Copper. There was almost conpiete
recovery from these opening losses. an
parently on the suopositfon that fha
Burlington directoTs,) after their meeting.
WcQld announce 1.-The completion of tina
deal. Their failure to do so was the
principal element in the sharp break The
! bull leaders are Ipanifestly perplexed over
what is to take fhezplace of the Burlinsr-
ton deal as an effective influence in To-
eeIe nh specuialionz when the matter is
Ilnally disposed of. Today'S deyelonrne nfs
did not seem to cause doubt of the nrac-
tlcal conSun1natieh3 of the plan. and in
TACT heavy profit1takiHg was to be looked
for even had the matter been announced
IL IS too much to say that the Burning
ton episode has ,lost7 it's influence to al
tract speculative buying so long as Off
bidl announcements OF the matter is with
mise over the plan. The threatened
strike of iron and steel workers was q
continued influence towards depression
ana United St5tes Steel stocks were
heavy all day, ruling a fraction under
Yesterday throughout. The weather. h11-
leau,s weekly crop report, Showing re-
tafeed- developments by reason of cool
weather, may have had some Influence
But the movement Of the marked was
principally Que to the technical causeS
; ne more favorable moneyconditionsw were
ignored. The gain by the banks from thu
suotreasuTy, which has already reached
., Oo0'oo0 this week and the arrested ont
now OF cash to the interior, give pretty
Sood assurance Of a favorable bank stats
hlent on saturday. The sterling exchange
market was rather soft. notwithstandinsr
Inc increased supply here OF 71IoanabiS
1unds, so that the outflow Of gold ia
Fretty certainly deferred beyond This
week The range of prices during the
cay was extremely wide, reaching from
70 points In nearly all Of the most
active stocks. -1o'e
IT The bond market continued active hut
safes, par value, S. SOC, 0GJ - =.
United states old tours, registered do
elined Il, and United States old fon lu
coupon, Is per cent on the last ealEs - > ,,
r q.-.s,-s -- STOCKS. ss4A4a.g.
Furnished by Charles H. F. Smith a
49, members Of the New York Stock
exchange, Pioneer. Press building. who
nave direct wires to Chicago and Nav
1cIA. CIoslng prices are bid: