The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-02-15

NEW YORK, Feb. laval street to-
day showed continuance of yesterday S
strength in the early dealings, but the
buying came almost altogether from pro-
fessional sources, with the purpose of in
viting outside demand. The outside de-
mand failed to materialiZe, and business
from the commission houses continued
on a very small scale. In fact selling
orders to some extent came on the mar
ket from commission houses, which were
attributed to Western account. but which
were without explanation. The profess
sional buyers grew tired, and sold to re-
alize when the futility of the efforts to
attract outside buying orders was per-
ceived.
Several points of positive weakness
were developed by the searching efforts
of the bears, and stop loss orders were
uncovered by offering prices down. The
result was a general reactlonary tend
ency, which wiped out practically all Of
the earlier gain and established some
sharp losses in special stocks.
The shorts covered before the close,
causing sharp rallies at the weak spots,
and a general stiffening Of the whole
market, as result of which the closing
was firm and net changes in the majority
of stocks small.
The local traction stocks and the in
Gustrials were the leaders in the OPEN
ing advance. Sugar, Tobacco, Western
Union, Peoples Gas, Pressed Steel Car,
Rubber preferred and some Of the iron
and steel stocks were all represented by
gains Of 1 to 2, and Tennessee Coal was
marked up s7a on rumors Of plan to
retire the preferred stock and begin
dividends on the common stock.
Continued heavy buying was in cyl
dence i'm Pennsylvania, Baltimore &
Ohio, ST. Paul, Missouri Pacific and
other stocks, those named rising point.
Buying Of some Of these was attributed
to operations by speculative pools.
The first point Of weakness to develop
was Third Avenue on the announcement
Of a dividend Of / per cent, as com
pared with IN for the last quarter OF
1899. and ~ each for the three proceed
inc quarters. The stock fell heavily, and
| caused sympathetic weakness In Ire
other traction stocks. Metropolitan West
Side preferred Of Chicago Jumped 51s on
the declaration OF Its first dividend. Inc
demand for stocks was nstlesS Tor Inc
rest of the day and the bears made sue
cessive attacks on different stocks Rub
Der common and preferred lost 47s and IA
respectively. Continental Tobacco was
raided down points on ruinor OF bono
issue and American Tobacco lost IT'S
earlier gain in sympathy. Sugar fell 2e
from the top, Federal Steel, lA; Paclne
Mail, IL, and B. & O., rs.
The news of the day was mostly favor
able and the reaction was apparently due
to technical causes Traders We're m
clined to take profits on the pending pas
sage by the senate Of the financial DIN
which is taken for granted, and winch
has been the basis of some speculation
on account OF its provisions for expand
ing the currency.
Money on call continued offering in
abundant supply SO that spectators Were
not made uneasy by the evidence OF ao-
sorption Of cash by the subtreasury ana
| a continuing demand from the anterior.
The further rise in London discount rate
caused a firm tone to sterling exchange,
but no ouotable change in price
The bond market was moderately active
and irregular. Total sales par value
s.. 7O5. 900. U. s. old As advanced Is In the
bid price.
STOCK QUOTATIONS.
Furnished by Charles II. F. Smith l., q
Co members of the New YORK STOCK Elk
change. Pioneer Press building, VINO nave
direct wires to Chicago and New YORK.
,uoeino nriceS are bid: