The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-03-17
GOLD WAVE HAD THE EFFECT OF
GREATLY STRENGTHENING, -.
THE SITUATION
BULLS WERE IN EVIDENCE
Confident OF the Future, They Added
to the Advance by Free Buying
Realizing on Profits Caused
Temporary LuII.

CHICAGO, March 16.-The cold wave
sent wheat prices up today almost as fast
as the mercury went down, May closing
at an advance of &c. Reports of dam
the main factor in general covering
NEW YORK. March 16-WhateVer sig
nihcance attached TO today's stock mar
ket was or a negative character. Trad
ing in the aggregate was on small scale.
and even at that was congeSted in few
of the specialties. Third Avenue contfn-
Oed to absorb a large share of attention,
and was the only stock on the list with
any considerable range in the price fluc-
tuation- After an early decline this stock
with a net gain of 21s. Sugar was active,
but showed a comparatively narrow
range, and ended the day with a small
trieved an early decline, and Pacific Mail
was notably weak. Otherwise the deal
ings were small. price fluctuations mar
row and the list Of stocks dealt in a short
one.
That the general tone was firm was
probably due to the fact that the bear
traders bought stocks to cover short con-
tracts. There was no evidence of any out
side speculative demand, but there was
some investment buying here and there
on small scale. Probably the bears
were induced to cover by the prospect
that tomorrow's bank statement may fall
slightly short of being as weak as was
feared. The New York SubtreaSury made
q small contribution today to the cash re-
sources Of the bank on the routine trans
actions between them. This Is the first
time this has happened in over three
weeks and brings down the losses by the
banks for the week on subtreasury opera
lions to $4,407 .00, compared with $780,
0G0 last week.
Today's gain by the banks is due to the
disbursement of pensions. On the cur
rency movement by express in the inte-
rfor, a net loss by the banks Is indicated
of only about $750000, compared with
about 81, 500, 800. without allowing for tbe
movement by registered mail, the loss of
the banks ON all accounts is therefore
only a little over Sc, 900, 600. compared with
nearly so, COZ, coo last week The changes
IN the loan amount are largely guess
during the week, but on the other hand
the borrowing of money to buy govern
ment bonds continued.
The hardening of New York exchange
at Chicago is said TO be due to the trans
fer Of funds 10 liquidate loans contracted
Dy western banks to buy government
bonds in New York This outlook some
what modified the conviction of profess
stonal traders that the surplus reserves
or the banks are certain TO be wiped out
tomorrow.
Money on call was in good SUNNY for
most OF the day at from to AZ per cent.
rather paipable manipulation. the ra &c
quickly yielding under tho offerings
brought out. But whatever NAV remain
or the surplus. it Is certain 70 be small
tomoFrow's statement Will show the -,
water mark for reserves and thsF tha
FACTORS OF replenishment will begin 10
show effect next week
Bonds were relatively more srttva +ho,,
stocks, some of the dormant hjeh-rra 10
Issues being dealt in at advancing nTic.s
AT other 30 MS prices yielded Total sales
per value $2VS.000 United States old Is
price,
The leading futures ranged as follows