The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-21
STOCKS IN ASCENDANT
MOST OF THE LOSSES OF MONDAY
ARE RECLAIMED
Market Is Not Hurt So Badly by the Bal
9sst'
timore Difficulties as Had Been Appre-
hended-Market Rallies After Setback
and Closes Very Firm.

NEW YORK. Oct 20.-Wan streets
highly eolored imagination as is the case
almost invariably, took an extreme view
of the harmful possibilities of Mondays
events in Baltimore. Finding this to be
the case today, the operators who sold
stocks with undue freedom on Monday
nougnt them back today. The decrease
IN the volume of dealings indicates that
not all of the stocks sold on Monday We're
rebought today. Prices moved easily up
ward however, and retrieved the greater
part OF yesterdays losses. Whether there
was more cause for yesterdays perturba-
ton than was indicated by the sequel to-
day may never be known, but the acute
ness OF the fears felt yesterday We're con-
ssiderably dissipated from the outset of
the market, and confidence grew pretty
steadily throughout the day.
There was a small setback during the
fnal hour. but this was apparently due to
nothing more than the normal profit TAX
ing by room traders, invited by so consid-
cradle an advance. The market rallied
again and closed very firm. and but little
below the best. 1t was generally under
stood before the opening of the market
that concerted measures had been taken
at Pittsburg to protect any weakness in
the situation there.
Baltlmoreans Are Protected.
1t was also known that heavy transfers
OF currency We're being made to Baltimore
to insure protection against sudden de-
mands upon deposits there. 1t became
known Immediately in Wall street also
that all Of the Baltimore institutions had
opened their doors this morning and only
slight evidences of fear were being shown
by the deposltors. Such as was shown
was reported later as being dissipated
and opinions We're quoted then that the
premiership in at least one of Yesterdays
instances had been unduly precipitated
cannot be said that the character of
todays buying carried very great con-
v1ction as to its substantial quality as
most or 1t was attributed to professional
operators, either for houses covering short
m q nj lot nCr Nrinn
against the short interest Nevertheless
: the considerable advance in prices failed
to develop any new pressure to sell stocks,
and was effective in impressing the shorts
with the desirability of covering their
short lines: The feeling among the bears
was that the failures at Baltimore had
uncovered the weak spots in the situation,
and the fact that today brought no ex-
tension of the trouble gave the impression
that the worst of the trouble was over.
strength in the situation to withstand any
larger demands that might follow
Why Sugar Was Strong.
There was little in the news of the day
to affect prices. Sugars special strength
was due to the calling of the extra session
OF congress with the sole purpose of per-
The speculation in Amalgamated Copper.
turned to some extent on the expectation
of decision in the Boston and Montana
litigation this week. Montreal Philadel-
phia and London, whose selling has helped
the recent depression, We're reported as
buyers today, and helped the recovery.
Large takings of grain for export made
a helpful factor, and the current railway
earnings continued to make a good show
ing. Reports of a. cut on export grain
rates by the Toledo, ST. Louis & Western
failed to affect the stocks of railways
concerned
The bond market was firm and a moder-
ate Investment demand was observed. To-
tai sales of bonds par value, was 81, $40 :
dc JtrnIs I1oF God
on the last call.