The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-03-11
STOCKS STRONG Err.
An UnfavOrnbIe Bank Statement
Had Been Fully Discounted.

Had Been Fully Discounted.
Prev.
Bar silver. New York. 1914 5s%
Call money. New York. ........... 31A 3h
NEW YORK, March 1o-The trading
in stocks was largely confined today to
operations by board room operators. as
has been the case during the whole week.
But there was some small but significant
buying from outside sources, especially
manifest In the taking of fractional lots
of stocks for investment, which proved
the attractiveness of the present level
of prices to those who are not dependent
upon ordinary money market vicissitudes
turns which they yield. The wide distri-
button of the dealings also added to the
healthy appearance of the market.
The character of the bank statement
was so confidently foreseen that its APP
pearance was not awaited for the clos
ing UP of professional contracts. The
traders have been on the short side or
the market quite uniformly during the
week, so that the closing up of contracts
.stiffened the market very appreciably.
Sugar and Peoples Gas were notably. in
demand before the bank statement. but
were sold off again together with the To-
cal traction stocks.
The obvious -unwilHngness of prices to
yield on the bank statement drove the
bears to cover again. Sugar advanced an
extreme 3k, Peoples Gas 2, and the whole
list rose to the highest range Of the
morning. WITH more SHOW OF
in the dealings than has been shown for
many days. The bank return was fully
as weak as was expected.
The strength Of the days market must
be attributed to q feith that speculative
commitments being small the market is
not very vulnerable to temporary
money squeeze. Beyond a temporary
Stringency the new currency and refund
ing law is confidently looked to for speedy
relief. There Is an under-current Of SEN
tment also that some of the recent heavy
h.
vertible or transferable, in case of any
urgent need of credits without doing
damage to present borrowers. This would
be true of such portion of the present
loan expansion as has gone into govern
ment bonds. with a view to taking out
additional note circulation.
mand. part of the buying being attribut-
ed to pressure of funds realized from tbs
selling of government bonds by invest
ment holders to banks. United States
coupon y and do registered a. New IS
coupon declined Is and do registered and
the 2s y in the bid price.
TREASURY STATEMENT-Wash ing-
ton. March 10.-Today's treasury state
ment shows: Available cash balance,
1901 ,227 159; gold reserve. $241, 76S, 79S.
FOREIGN FINANCIAL-New York,
March 10-The Commercial Advertisers
London financial cablegram says: THE
markets here were quiet and firm today
every one being very confident and be-
probably eclipsing Americas 1888 record,
will infuse life into the market. A great
crowd of applicants was at the Bank OF
England today, and large subscriptions
are also expected from the continent. and
all the colonies and America. J. p. Nor
gan and company alone have applied for
ten millions for American financial insti-
tutions, mostly insurance companies. and
they are expected to lodge more on Mon
day. The stock is quoted at 2Ss premi-
unl and very large dealings In it are
reported. Consols were up u. Amerl-
cans showed a hardening tendency, but
there were no features. Pintos were
strong at 53ss Some say they Will touch
60 The bank received G45,o0e gold from
Holland. There was A good demand for
short loans, and discounts were a shade
hrmer."
STOCK QUOTATIONS.
Furnished by Charles H. r. 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: