The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-02-18
STOCK M2 aas d STRONG.
Neither Recess Nor Storm Had
Weakening Eject Upon Them.

Neither Recess Nor Storm Had
Weakening Eject Upon Them.
NEW YORK. FEB. n:-Bradstreets Finan-
cal Review TOMORROW will say:
Reopening on Tuesday after a three days
recess, to find mail and railroad communica-
ton interrupted by the storm and the at
tendance In Wall street seriously reduced the
stock market developed unexpected strength.
This. in fact continued to be It's chief feat
ure throughout the rest of the week. though
the total tradings were rather below the re-
cent level, and there was much moro evil
dence Of professional than OF public sup
port More or less commission house pur-
chasing was attracted within the last day or
so by the steadiness and advancing quota
lions. but the market whole had the
appearance OF following the, lead Of manip-
ulators to greater extent than had been
witnessed since last autumn.
The interest of the street was centered
manly on few stocks in which Influences
uous Burlington being the principal feature
while the Paci1cs and some others came in
LOT more or less attention of similar char
speculation. Rumors however. were plenti-
ful and had much to do with the movement
IN the active securities. There a decid-
ed disposition to accept any favorable intelli-
gence or views. and the street apparently
made I'D its mind to disregard any adverse
Incidents. such as the interruption Of gen.
eral business and railroad traffic by the
storm Or the damage which it may have
done In the South or other sections. On the
otner hand, 1t seemed to be accepted as q
proved fact that the liquidation of weak
speculative accounts that has been in prog
ress since the latter part of January had ex-
hausted itself and that the continued ease of
money was calculated to produce renewed
changes, even If the investment demand had
been largely satisfied
London sales of securities has slackened
largely 1t would seem. because the supply
Is exhausted, but every incoming steamship
still continues to bring large eonsignments
of securities, principally Of dvidend-paying
stocks, standing In the names of foreign in
yestors. This mass of securities adds to the
floating supply in Wall street, and causes In
creased borrowing. but no effect either on
the abundance or supply Of money or Of the
current rate OF interest be observed. In
fact, the disposition which existed in some
quarters to look on Tightening of the finan-
cial question Is among the possibilities of
the immediate future. has measurably sub,
sided 81.
Unfavorable comment Is naturally heard
regarding the rapidity with which new In
dustrial combinations are formed and the
vast increase In the amount Of securities Of
such concerns. 1t seems. however, that the
conservative way In which they are treated
in financial circles tends to lessen any dang
er from that source, and speculation In them
is largely. confined to outright purchasers OF
the securities. f.. q,
Good railroad earnings continue to be the
rule, and the street has been encouraged to
look for some extremely favorable results in
regard to net earnings as effect of the
present maintenance Of rates and the adher-
ence OF the companies to established tariffs
The principal speculative influences of the
week have thus been bullish. and though
some Of the leaders are inactive, the inter-
ests which took a position on the long side
have found ample following among the small
er professionals and the large section of the
public which the recent strength of the mar,
ket has brought permanently, 1t would ap-
pear, back into Wall street