The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-01-31

Bar silver, New Y O rskss .6o1s 6iM
Call money, New York .....s1A-2 IA
NEW YORK, JAM Sai-Today,s market
was made up of INDUCEMENTS in speeial
stocks, evidently undeTSthe Operations of
speculative cliques. wh1Gh brought man p
ulation freely to bear Ito aid the move
nients. An overwhelming proportion of
q! tpe total business was concentrated in less
than asdozen stocks, st: Paul. Steel and
y. ire and Southern Pacific continued very
! >linent, but they We're supp! emented
! large dealings in. Rock Island ana
lie OF the Southern stocks The first
{ minutes of trading were sufficient to
.-ensErare that very powerful sup0crt
~ in the market. The heavy offerines
st Paul we're freely bought and rs
~s true in Northern Pacific and in the
x stocks. The official color given TO
Genials this morning of the so-called st,
Iaut deal ana the, explicit assertions that
IT was on. brought u large Speculative
selling of the stock and the statement
on behalf Of the Steel and Wire dire crofs.
gwen out after the close. of the market
yesterday, was weakening influence III
Inc steel group. When the determined
and effective support at these two points
was observed, the tone of the specula-
uon was strengthened and the prompt
advance in Rock Island and of various
other stocks later in the day served to
sustain prices in the general list Selling
TO feallze was going on actively under
cover of the strength in active stocks.
and the market was highly irregular dur
ing t1e Whole day. Under the Inference
OF the first upward squirt in Rock Island
which rose an extreme 81, there were
general recoveries ST. Paul and her
Iead1ng stocks rising above last nignt.
The fact that the buying of Rock Island
was by brokers. iderucal with the sup
port in Steel and W4re aroused some dis
trust OF the movement and the subse-
queht advances in special stocks We g
not notably responded TO in the gene al
list st. Paul sold off later to 1872 and
closed with d net loss of a point South
ern Pacific suffered from heavy really
ing on the statement of December net
earnings, showing an extraordinary in
crease of $S52,139 over December of last
year. Mobile & OfloA continued to ad-
vance. rising SIS to top Of yesterdays
gain of 54z. No authentic information
could be secured during trading hours AS
to the source of tkisobuying, but it was
made the occasion bysspeculato tors for adj
Nancing the stoclxsrco of various railroads
which might be bene6ted by secul ing TIL.
control, including .ss9uthern Railway.
City southern. The control of the road
is at present vested IN the bondho, ders
through voting trust and it is said that
no controlling interest In the stock is held
stocks were marked up vigorously after
resisting the deciine2aH day. The rise, in
Steei and Wire. from. the lowest, reached
rs IN the preferred, 2g5, and in Federal
steer, "a. There were gains of / to 1lb
by some other members of the GROUP.
me engagements of gold for export by
y, 900, which is considerably less than
the, preliminary estimate. But sterling
exchange has advanced further today
as il did in Paris, and it is evident that
q gold movement from here to London IS
Imminent. Borrowers In London resort
ed to the Bank of England today, show
ing that the efforts Of that Institution to
control the open market are meeting
with success. With a prospect Of gold
being thus, drawn from New York t
seems hardly probable that the bank rate
VIII be reduced tonQgTove.s.:.An additional
reserve of gold III KS5na on would be@de-
s1rable in prepare ton for the placing OF
the coming war lean there ~ =
Prices of bonds were well sustained to-
daEzzen g, good absopotiefi. Total les,
Ear5 value, 50 955s600. II s
United States bends were all sunchans--.
ed on the last -eall.f -
STOCK Quotations.
Furnished by Charles H. f. Smith &
Co., members of the New York Stock
Exchange, Pioneer, Press building, who
nave direct wires to Chicago and New
York. Closing prices are bid: