The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-02-06
ACTIVE IRADE IN STOCKS.
MARKET IN WALL STREET WENT
THROUGH SOME WIDE
FLUCTUATIONS
CLOSING GENERALLY HIGHER
Many of the Smaller and Generally
Inactive Railway Properties
We're Boomef On Rumors
of Absorption.

NEW YORK, Feh43fL-Todays market
was very active and ended the day gen
orally higher, but prices of stocks went
through many variations in the course
of tie trading. The market was extreme
ly spotty throughout, but the constant
cropping out of new and aggressive
points of strength served to overcome the
disposition to sell on Tile part of tiI11id
holders of long stock, rs we'll as the bear
traders, who were disposed to aggressive
tactics early in the day. The opening
bulge in prices met with a decidedly dis
coura cling reception, and some of the
leading stocks on the list We're carried
below last nights level; under the heavy
burden of profit-ta1ing sales and opera
tions by the bears. Yesterdays leaders
in the speculative advance, including /.
& N, Atchison, Union Pacific and Rock
Island were all carried below last nights
level, and the dropping tendency of
Southern Pacific became manifest. With
weakness in these important stocks after
yesterdays large buying in them for
speculation, the whole market nearly
made some response and the earlier gains
elsewhere were large cdrtailed. The steel
stocks showed themselves not so yielding
as those i'll other portions of the list
when the force of the selling movement
had expended itself, the recovery in tie
steel stocks was an important influence
on the market, Buying was credited to
insiders, and there was a recurrence of
recent rulnors of a coming wholesale con-
solidation of the great corporations in
the trade. The opening rise in the South
though Missouri Pacific made strong
ecovery later, rising to 917s, and the
Wabash securities were very largely
bought 1t was rurnored that Chicago II
Western Illinois had passed to the con-
troll of Missouri Pacific or ST. Louis
Southwestern, and the lately prevalent
rumoes of a general consolidation of the
Southwestern railway systems still re-
tanned their force IN the speculation
Chicago & Eastern Illinois rose "a and
the preferred 1l@c. Spurt of 31sc in To-
bacco about midday VS. q feature. Thei e
smaller railroads which aGva4lcl,. y
ly under the privilege impression tt,1t
absorption of such Roads by the larger
Hooking Valley rosea 4l#. ditto preferred
4; Pere Marquette, 5; Minneapolis &c St
Louis, 2&; Evansville 81 TeTre Ifaute, 3;
Lake Erie & Westerns 2~and quite an ex-
tended list from l ,toA2 points The most
important movements ofGthe day was in
the later dealings. whem the @oaiers and
Pennsylvania Developed sudden and ag-
grcssive strength, after showing synip-
toms cf heaVincss e4r(ier in the day OIL
a statement that the dividend on Reading
first preferred would not be increased
to be based on runners as to the DISPOSE
tor of LeEigh Valleys different reports
assigning it to LackaTanna, for Dele
ware & Hudson, and from to for
other members of the group. The move
?nent in Pennsylvania was not explained,
but it resulted in an advance of 4 points.
OEiCr PACING ana southern Paclfic also
succeeded in throwing off their depreS-
sion, the former advancing to 81 and the
latter to SO, through heavy offerings in
both cases. A furry OF per cent in
the caH money rate was not much heed
ed, although it calls attention to the fact
that last weeks enormous incurSion into
the reserve forces by reason of the loan
expansion of over 900, was a reality
to be reckoned with The reaction in
sterling exchange and the impression
that an outward gold movement to Lon
don is averted for sthe present, owing to
the decline in the money crate there help
cd to offset the effect CT the firnner tone
OF the local money MARKET |sSe@+
The abso.ptiona .ofWhltdt9le and lower.
grade bonds continued very heavy and at
advancing prices Total sales par value,
$7710,000 United States 9's Advanced IL
pei cent on the last call.
STOCK QUOTATIONS..
Furnished by Charles H. F. Smith 6
Co., members of the New York Stock
Exchange, Pioneer Eress building, who
have direct wires to Chicago and New
York. Closing prices are bid: