The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-02-20

Call money, New York..202Ha Nominal.
NEW YORK, Feb .19,-The outside pub
lie still refuse to manifest any interest in
the stock market today and operations
continued wholly in the hands of profess
sonal traders. This element made an at
tempt to force continuance Of last week S
reaction, using as their argument the
drain being made upon the cash resources
of the banks.
Today's statement of subtreasury opera
lions showed loss already since Friday
to that institution of 81, 421,000. This show
ing helped the bears in an early raid on
the market which wiped out the opening
gains and carried prices generally below
Saturdays closing level. One or two
stocks suffered from individual causes
and help on the reaction. Pacific MAIL
Peoples Gas and Third Avenue showed
continued weakness, and Pennsylvania
was depressed on reports of a new car
trust, involving, many million dollars.
The bears did not succeed In bringing
out any large offerings and were driven
to cover on the development of aggressive
strength in several stocks, including Su-
gar, Rubber, Chicago. Indianapolis &
Louisville Tobacco, General Electric,
Lackawanna and Third Avenue. The
most potent factor in the rally was the
very large increase Ia earnings for the
second week in February shown by a
number of railroads. Norfolk & Western
made the most striking exhibit, with an
increase over the corresponding period Of
last year of s133,s5S, which is nearly SO
per cent. This resulted in very large alb
sorption of the stock at an extreme of IA,
and had a sympathetic effect on all the
bituminous coal-carrying roads. Toledo
& Ohio Central showed an increase in
earnings Of rs per cent for the second
week in February. =:
These evidences Of large demand for
bituminous coal were coupled with re-
ports of increasing use Of anthracite In
steam production, because Of difficulty in
obtaining soft coal eThe anthracite group
showed the effect Of this influence, and Of
published forecasts sof the annual state
ment of Lackawanna, which is to be pub
lished tomorrow, intfn1afing a high per-
centage of earnings for the year. In add
ton Ontario & Western showed an in
crease Of Al per cent in earnings for the
week. IS ri.
Ir the Southern 5group Louisville q
Nashville made a showing for the week
which was "a per cent better than that OF
last year, the increase III gross amount
ing to $1S6345. All the returns received
show very striking gains, though those
enumerated are the largest. The cotton
carrying roads especially showed receV-
cry from the recent low level Of earn
ipgs and were advanced in price in con-
sequence. The tonic effect of these ex-
traordinary earnings proved too much for
the bears and they were forced to cover.
The continued ease of call money, " h1ch
ranged from to 2ta per cent, neutraiized
the .alarmist view of the money market
outlook Some slight effect was produced
also by the reports of further British
successes in South Africa. Erie IIele-
phone rose buoyantlyl some q points.
Dealings were not on a large scale, ana
the market fell very dull below the close,
but held quite firm near the top.
Business In bonds showed some falling
off in volume. and price changes We're
mixed. Total sales, par@value. 81, S5,ooo.
United States old as and IS advanced
ii and Is " in the bid price
STOCK QUOTATIONS.
Furnished by Charles H: F. Smith q
Co. members Of the New York STOCK eA-
change. Pioneer Press building, VINO nave
direct wires to Chicago and New YORK:
Closing prices are bid: