The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-01-19

Eodr silver. New Y OrkgIi 633k
Call money New YaFkI s...2-3 "a
NEW YORK, Jan. 1S-The market was
SUBJECTED to an energetic shaking down
Ioaay, which caused a. notable decline in
prices. Prices, however, had been prac-
tically well advancedsb before the decline
set IN, and. there were notable recoyeries
at the end; !. The net changes, there
tore, do not by any means give inst
IDEA or the character of the market The
1dl IN prices was in most cases a per-
pendicular one from the high level to
the low level, which gave it the appear
ance OF great violence. The Selling
which caused it had all the appearance
OF great urgency, and was in very heavy
decline. It should not escape notice,
however, that there were important
stocks In the list which offered good re-
slstance to the prevailing weakness, and
Which rallied well from the Decline The
tone of the steel stocks was much bet
ter than yesterday. They were vIgor-
and there, was good demand from the
short interest. Important members of
the group show small net gains on the
day: There We're points Of strength as
we'll in the railroad list Missouri Pa
cific, Southern Pacific and Northern Pa
eeific We're we'll absorbed during the day,
and Baltimore & Ohio showed no fur
Their signs OF yesterdays extreme weak
ness. Sugar manifested strength, and
closed at the best, at a net gain of
nearly two points, but it was a noticea-
bic fact that the early advance in prices
was somewhat laboriously achieved. The
determined effort to- support the market,
which was manifest at the opening, ne
ceSsitated the acceptance of some very
heavy offerings before~the weakness was
overcome. When the movement in priS1s
was once turned upward it seemed to
have the effect of checking Specula tive
liquidation, and the volume of dealings
was rather small on The upward corse,
but it proved an easy task for the bears
to undo the work of the bulls when they
commenced to offer prices down. The
SeVereSt sufferers On Atfe9 decline were
among the New York pubic utilities, the
day Northern Pacifc$ St. Pauls ex-
treme decline was. oYetssfgur points, and
@5ortneTn Paetne - the extent Ct
Hudson I've were forced d6Wn nearly Gu i've
points, Lackawanna S5a, Tin Plate pre-
ferred, Steel Hoop, c9mIEon and prefer
cal fractions from 23s-+e- 33s, the gran
gers 2 to 81 Erie first EpT eferred 8, and a
large number OF thes principal active
stocks from one to two. o. The fact was
again demonstrated tfIatG the bear ele-
1nent has been so eager5 to discount the
expected liquidation that the market is
OF the bears to cover pIffled the list up
again, rallyfng ST. Paul 'pearfy 8 points,
Erie first preferred oveF.. p and the larger
part of the principal active stocks be-
tween 1 and points. ;The activity of
: tie market declined as} tie rise progress
ed, and there was mo- evidence OF any
The closing was unsteady and wavering,
and at the best in only few cases. The
forecast Of the bank statement had an
influence in driving the bears TO cover,
with its prediction of another increase
of nearly $40, coo in the banks cash re-
sources. In spite of the payment 90 the
sub treasury of the gold Withdrawn from
the assay office for export, the week
sub treasury operations has yielded to
the banks the. sum of IS. 743. 900. On the
interior movement by express the banks
ARE estimated to have gained corside-a-
bly, over $5006,900 The week $ liquida-
ton on the stock exchange points; 10 the
probability also of a loan contraction.
Sterling. exchange advanced. again today,
Their gold viii SO out next week -, r. q
Z Railroad bends were- weak s@Fa1pa tlly
With stocks. Total sales par value 81
$50 600. eUnitedg States ne funding rs adj
vanced Il OH the last cafl.:
~ STOCK QUOTATIONS,
Furnished by Charles II. F. Smith &
Co., members of the New York Stock
Exchange, Pioneer Press building, who
have direct wires to Chicago and New
York. Closing prices are bid: