The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-01-22

NEW YORK, Jan, 21-The complete re-
covery of the stock market from the
rather alarming Weakness shown during
the early hours Of trading this morning
was astounding demonstration of recuper-
alive force. The speculative liquidation
at the opening was SO violent as to give
an appearance OF semt-denoralizdtio in
the market, and the selling was evidently
forced by the Wiping out of margins and
the uncoVering of Stop-losS orders. Yet
before the day closed the general level Of
prices had risen above Saturday, and the
last hour showed an urgent and confident
buying movement on the floor. The early
weakness was the logica1 sequence of the
course of the market last week, and the
general apprehension HAT further re-
action was inevitable. In a market In
which extensive long accounts exist this
means that brokers, in order to protect
themselves, call for additional security
margins. This diScloSes many persons
who are unwilling or unable to supply
further margins, and VINO order the sale
of their holdings, either to take what
profits are left OF to save losses The
professional bear operators are able to
judge pretty shrewdly of the proba BILE
meal influence in the market was rein
forced this morning by the feeling Of
depression common to all the securities
market ma of the world; over the approach
ing death of Queen Victoria The death
OF the queen is not likely to have direct
influence on values of securities either
mere Or abroad, but capital, always ap-
prehenslVe over a change in the order
Of things, expressed itself by the selling
OF securities. In the opening break in
Lrlces, such declines were witnessed as
Northern Pacific, 81 in Amaigamsta ID
Copper, from L to points in the steel
stocks and to points in the PRINCIPAL
actlV9 stocks all through the list The
hfSt element in the rally was the un-
Tleloly snort interest, which stood eager
~ waiting to tal1a- profits by buying
stocks stocks ga at the decline There was an in,
refused to yield to the depression Mis-
sou11 Pacific CAVES way only Il. and was
Immediately marke5F sup to a level snb-
9fbtan nl-5ay above Saturday and held there
throughout the DAY: In the late dealings
IT lose buoyantly to- 90A, which was 81
ABOVE the early lDWdpoint The traders
t t6a We the moyer1Ght in the belief that
from sources witch have been tg'N cre gIiilS
Tor some time past1With plans for IAN
ing over and consolidating the Southwest
1 Was f arr systems'i That whole group
WAS Hfm throughou& tine day and Wa
oash issued shares yauite fully in the
strength of Missouri Pacific. Wabasb
G 6ebanfrg rose rs he Preferred Az and the
ing IN ether parts Of the LIST aTnva tIa
traders ground for the superstition that
a a., renewed absorption of stocks was GO
f5,s on 2y the powerful banking and
financial interests, which were ,)u5yiner of
IMPORTANT STOCKS before the many recant
ruIIloES OF vast consolidating gained chr
rency. This caused a fright an1ong H.
shorts, and in attempting to oct 80 eoI
stocks sold earlier they caussd nrices IN
Iiurdhce very generally above Satur9a IS
letel. In st. Paul the raIlv vas ~
points, Amalgamated Copner IS, IN 80
local fractions from "a to go in panni ne
S9d1S' IN sugar and Tobacco Iraro Els
- IN Northern Pacific 3N. in I-niop
4 d ic ana pennsylvania 2A each ana IN
q tdfS9 number of the active stocks f,to -,
l TO points: The steel stocks waca = n 0ltt
aS prominent in the rally as Inc roe+ ne oe
me t market and Pressed Steel Ca - ~
oeilaea It's loss to 81 points after 10
S9lsr3t market hadatllfned r11yyacl 80 90
D rtGelns was flrm and at about the hest
PlIGsa .oL tne day. The rerunaro tiI5e
P go 81 manifested by the market has IN
H., in a1Iy preconceived ideas of the FIJI
~ e eAteHt OF the decline in prices FL
al ~ tApoTtS OF gold are generally exner,-
gu ms week, but the availa Bile funGe 80
fi E ' 'Jtlltlallt as to give confidence in con
lI4ued ease Of money. III COIL
1, IeallF 3o4. bonds were easier until +h.
lsr + sc u1ln9hd developed for WahasiI doJ,7
ri ei. "heh trey became irregular, IT,
ST. s. SAFES par value, $5,4O5 0O0. TTnttod
0odt les feIundfng Is advanced * peT 'i net
STOCK QUOTATIONS.
r. furnished by Charles II. f. Smith e.
E,%csha nrernoe5 3 OF the New York Stock
haVa dise, Pioneer Press building. who
VorI. utreet Wires to Chicago and Ney
o1k. Closing prices are bid: '~ I'VE"
4t:.G Closing