The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-02-14

NEW YORK, Feb 13-The stock mar
ket gave evidence today that the selling
movement to take profits which developed
about the middle of last week had run It's
course. The professional operators in
stocks, who hesitated to resume opera
tons on the eve of a double holiday, We're
buyers at the opening today. There was
no evidence of renewal of outside de-
mand, orders through commission houses
being on very small scale, and not
showing g. notable increase as prices
made progress upward, but the profes.
sioEal traders bought with confidence
and maintained prices quite firmly, ap-
parently with the faith that outside de.
mand would develop.
There were quite notable advances in
the local traction stocks, due to ind1-
yidual causes, the principal one being
rumor that Metropolitan was about to
take over Third Avenue. There was
heavy demand from shorts in this group,
driven to cover by the strength or the
stocks, thus affording material aid to the
advance. Otherwise, the strength OF the
market was due to the general favorable
outlook for business and industry.
The days return of railroad earnings
were all extraordinarily favorable, even
those of the cotton-carrying roads snow
ing recuperation from the recent low lev
ell. on account of the increased movement
of cotton induced by higher prices OF
that staple and the sharp foreign de-
mand Some Of the Western railways,
which suffered severely from last year
snow bIockades, are showing large In
creases and the increased movement
caused notable strength In the grangers.
BIT the trunk line railroad stocks showed
the most conspicuous effects OF the I'M
proved condition of the rate situation
and the continued large volume OF msr-
chandise traffic. The Southern group OF
trunk lines. In which the influence anu
control of Pennsylvania are becoming
dominant by large purchases of stock OF
tho connetine companies were all mark
edIy strong, Pennsylvania leading with
an extreme rise. of 81. Baltimore g
Ohio preferred rose over z points, De-
ing greatly affected by the January state
ment of earnings, which showed practi-
cally all of the inrcease In gross earn
ings saved for net, with the resulting
increase in the latter of over SoolVoo' or
nearly 1853 per cent.
The iron and steel stocks were aii no
tably strong on the growing evidences
of a continuance of last years large de-
mands for all grades of iron product.
Considering that last years high prices
were made by the urgent demand or De.
lated bidders for a comparatively snaii
part Of the years product, 1t is estimated
that the continued high level OF prices
for the total product will yield largely
increased returns in the aggregate. Ine
eager demand for cotton is also taken
large account of as assuring prosperity
70 the Southern section OF the country.
The rubber stocks broke sharply without
explanation. 80 +h~
Not much account was taken OF the
money outlook, and Of the opinions -
careful observers that period Oh insn-
ar rates is likely in the near futufe, om-
ing to the renewed absorption OF tno
movement of funds from the interior ~
New York on account of active business.
Sneculators are inclined to discount
probable imitation of the currency by the
nending financial bill.
There was good business IN po ,nn
at mixed price changes. Total safes.
nar>va1ue. S2,25o, 900. United States bonus
are unchanged in bid price.
STOCK QUOTATIONS.
Furnished by Charles II: F. smith h., q
20 u, members of the New York Stock Elk
e aha, Pioneer Press building, who na ..,
direct wires to Chicago and Now 10TH
Closing prices are DIG: