The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-02-21

NEW YORK, Feb. 2O.-Speculative opin-
ion showed itself today rather unsettled
and doubtful, as reflected by the opera
tons of professional traders. The news
of the day, so far as it affected valuss or
securities, was all favorable, but 1t failed
to attract any demand for stocks from
the general public. This induced spirit
of caution amongst professional operators
about taking on large lines of stock in
view Of the doubtful market afforded for
realizing. The bears were inclined to
make overtures, encouraged by this
doubtful spirit, but while they succeeded
in forcing large declines in a few special
stocks, they failed to induce any general
liquidation.
The undertone of the market was dis
tinctly firm and the opening gains, which
were pretty generally wiped out, were
largely recovered in the final dealings.
London was disposed to buy stocks mere,
and while the buying was not important,
the tendency was considered to be so, In
view of the condition in the exchange
market and the approaching loan for
war purposes to be placed by the British
government.
The tendency of railroad stocks was up
wards at the start, and there was special
strength where reports showed high
level Of earnings. Southern Railway was
the most notable addition today to the
large gains for the second week in Febru-
airy, its increase over last years similar
period being no less than As per cent. The
Southern group generally showed the
benefit of this increase.
Last weeks east-bound shipments from
Chicago ecIipsed all previous records and
stimulated the list generally. The yearly
report Of the Delaware, Lackawanna q
Western gave an impetus to the anthra-
cite group, in which Reading first pre-
ferred led, Lackawanna itself yielding on
realizing. The net result of the year 8
operations for this road was surplus,
after dividends, Of $1607, lib, against a
deficit last year of $509,S76 This result
was achieved in spite Of the large de-
crease in gross earnings (no less than nalf
of which is due to the decline in the re-
turns for transportation Of coaD, by a
cutting down Of the cost of conducting
transportation Of over $2,000O00 And in
the miscellaneous income the earnings
from the coal department were increased
some s2,630,266
The weakness of Third Avenue, which
fell an extreme 61s ex-dividend, and of
Peoples Gas, which lost Us, were the UNI
settling influences in the market. The late
strength of the coalers and a sudden rise
of "a in ST. Louis & Southwestern pre-
ferred induced the late recovery I'D
prices, which reached the best in many
cases.
The call money market continued easy,
but the rate of absorption of funds by the
subtreasury, which reached 81, $4,000 since
last Friday, and the continued downward
course Of New York exchange at interior
points caused continued uneasiness over
the money situation. Sterling exchange
eased off a fraction in response to a
slightly easier tone for London discount,
and the buying of stocks here for London
account In this connection, it Is notable
that the exports from New York. of gem
eral merchandise for the week just past
reached the highest level since Jan. l.,
amounting to $14, 521 ,56S, as against $9,641,-
143 in the. preceding week, and $10,S2o. 17S
in the corresponding period Of last year.
Railroad bonds were in good demand at
advancing prices. Sales S,770,0O0. United
States new As and IS advanced u in the
bid price.
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith s.
Co., members of the New York Stock eX-
change, Pioneer Press building, who have
direct wires to Chicago and New York.
Closing prices are bid: