The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-03-21
BEARS hid THEIR INNING
REALIZING MOVEMENT STARTED
LATE TUEsDAf WAS CONTIN-
UED YESTERDAY
STOCKS TOSSED OVERHEARD
Prices Weakened Rapidly as Weak
Kneed Spectators Let Go Their
HOldings-Daysa Dealings
Were heavy.

ali Hi'JilSJJ 4NSN .GRk-3 Z'4-Zty
NEW YORK, March 2o-The market
was overwhelmed with selling orders .tur-
ing the course of today's trading, and
the phenomenal occurred of an eager I'M
loading of stocks by alarmed holders
without any bad news bearing on the
value of their property to- alarm them
The bull leaders attempted for a time TO
contest the decline and to divert TIE
speculation into new channels. But the
market was obviously tired and respond
ed languidly to the manipulation for the
advance. Yesterdays heavy profit TAX
ing brought further selling orders
through commission houses, and the
bears, detecting the strained conditions
IN the market, put out larger short lines.
When the bulls finally ceased their efforts
to check the decline, prices crunbled rap
idly and step-loss orders were dislodged
on large scale With only a few excep-
lions prices fell we'll below last night
Profit-taking by the bears caused a con-
siderable rally in the last hour, so that
last prices were not the lowest, although
prof1t-taking was renewed on the adj
vance, making the closing tone irregular
The taking of speculative profits in Bur-
HngtOn was on an enormous scale. There
was determined support in the stock at
the opening, but the utmost that could
be secured for it was a half point ad-
vance. The opening price was the high
est, and it was steadier under pressure
for the rest of the day. except for the
covering movement by the shorts. The
seems to have been Intellectual, the CON-
petitive buying of insiders, which car
RED the Price of yesterdays high level,
having defeated the attempt Yet the
recorded transactions IN the stock with
in few days past have been much more
thar would be sufficient to change the
control. The highly speculative charac-
ter of the dealings is thus clearly indi-
Gated. An effort was made to substitute
st. Paul and Northern Pacific as mar
ket leaders, and Missouri Pacific was
marked up very buoyantly to 101, crossing
par for the first time in many years
There was a strong Upward movement
in Brooklyn Transit ON runlors of off,
cial changes, and on buying of the sane
character in Manhattan. The steel stocks
all continued strong, sthe dealings being
mostly in the trust certificates for de-
posted stock, as the time for deposit
expires today. AS the success of the
final rush to deposit Stocks, so that the
clerical difficulties of the transfer make
it probable that delayed deposits will be
leniently treated. The preferred stocks
ing to AZ. Members of the group reacted
with the rest Of the market, but resisted
better There wereo signs of an effort to
stif1e the speculation from roads into in
dustrials, as 1t is expected that the pow
erful interests behind the steel deal Will
support the new stocks. The profits of
the syndicate are apparently to accrue
in the shape of a1lotments of the new
ure to the benefit of the syndicate There
was no actual bad news to account for
the reaction In prices beyond the. con-
tinued possibility of a coal miners strike,
the international irritation over the sit
uation in China, and the prolongation of
the South African war Sterling was
called firm during the day in response to
high money. rates in London. There was
no disturbance IN the local money mar
ket, notwithstanding the days payments
on account of, subscriptions, to- the new
Union Pacific bond issues, calling for
over $40, 00e, coo. There was a further de-
cline in the activity of the railroad bonds
market. and the price movement con-
tinued irFegular.S Total. sales, par value,
So, 10000 United Statescs3s advanced Vi
and theonewy As and oId4s IL per cent on
the last call. -aGgs ge.g eesesS
.. -, STOCK QUOTATIONS. exa..-.
Furnished by Charles H. F.. Smith &
Co., members of the New York Stock
Exchange, Pioneer Press building, who
have direct wires to Chicago and New
York. Closing prices aree-bidscs a4.@ i