The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-02-09
STOCKS ARE'1j[Eyy NNVE
4E
PROFESSIONAL. MANIPULATIoN OF
LOW-PRICED RAILROADS WAS !
A NEUTRALITY-SUSPICIOUS.
RUMoRs OF MORE COMBINES /,
With and WIthpuny Any Basis in
Fact or Probability, the Chief
stock in Trade OF the
Bull fsfgHient.

NEW YORK, Feb. 5s.sAThere was a con-
siderable falling off in the volume of
dealing in stocks today and the decline
would have been mucn more marked
had it not been for the bringing forward
into activity of a horde of loy-priced
the brokers as eats and dogs. It is
CHARACTERISTIC of long bull movement
| that 1t should eventually reach into the
dregs Of the list and stir up the sediment
Of the market. The theory is that the
generally higher range of values at
taincd In the general market entities the
loW-priced stocks to some Increase in
| valuation, even without special develop
ment In the affairs Of the properties.
| The bidding UP Of these stocks is also
favorite device by bull operators 10
realizing in the higher priced stocks
which have already enjoyed their adj
| vance. So far as Tie railroad department
Of the stock department was concerned
| this WAS clearly what was going on to-
/ day. AS a matter OF fact combination
rumers Were circulated concerning the
railroads whose stocks are. selling below
! 40, as has become the fashion in con-
! of the stocks were bid up without speci-i
/ fic rumors on the general principle that
any railroad is available for combina-
| ton nowadays, The most clearly defined
runors applied to the Wabash securi-
| ties and the group of railroads operating
| in Colorado. These made Wabash a con-
| d J.
wanna and to take in the Gould South
western railroads 1.-THE formation of a
| new through railroad system from the
East to the Southwestern gulf ports. The
| several railroad lines took on various
| forms, some of which We're authoritative
| ly denied. The gains IN this class Of
| railroad stocks ran all the way from one
| to five pointS,ssSt. Joe &, Grand Island
| first gaining and Wabash Az. All Of
| the securities of bosh-f6ads were affeeted
in "a less IS t degree and tb = were gains be
Rio Grande, the Chicago, Indians. &
Louisville stocks, PeOrias & Eastern, the
G WS~e51a koFan a E9heeng STOCKS the
Pacific, North America, = Kanawha &
| Michigan and Mexican Central The rest
Of the. railroad list was singularly slug
gish all day and there VAS only a hand
full of stocks thatzgpte as much as a
point away from lestanght at any time
and most of, the. list3fNSbr8ted narrowly,
both above and belew dast nights level.
above last night, aaagWas- at one time
rs below. The fluctuations were hesitat-
ing and uncertain tall times The only
news of the day concerning the stock
was the underwriting at par OF bond
| issue to fnar.ce the Southern Pacific pur-
I chase. The latter stock also showed some
strength. The steel stocks made a -grea t
show Ct strength Just. at the opening, Tin
Wire 21a, and Federal Steel only IA
None of the advances were fully. main
tanned, except Federal Steel; and bust
| ness In the group fell to comparatively
small proportions. The BELIEF continues
strong in Wall street that the plan for
adjustment of control Of steel properties
| is making progress. But the stocks old
not reflect Clearly any news, sugar lad
| an advance of 3A. The movement OF ga sh
from. the ,iptarior i;by mail and express
Is expected to be sufficient! tor offset a.
loss of over "a million sdollarsBt the sub
/ treasury on account2eof the -neavys Gus
/ toms paymenttlgsT There EhaSc apparently
BEEN aspeciaE. large 1szA Venlei4ts of funds
+ from qearbys cities, and from San I fan
cisco, 5e:ltflt l1gp 99New X ofk exchange at
Chicago had .declf1Ied to SOc discount.
| Nobody ventures an ESTIMATE OF what
the loan item will Disclose in view of
the large financial qytfansac thons, which
| have occurred during. the week. :
There was 9acontinuar ceTof 4 t1e"Hctivity
of the bond market today, but there We're
/ reactions on proft-takfng at some points
! Wabash debentltre B s advanced points
/ and the 'A's> 23s. Total sales, par value;
So, 400, COO :
United States bonds. were all unchanged
on the last. call. s4.@ :;->I ..:
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith &
Co.. members of the New York Stock
| Exchange, Pioneer Press building, who
have direct wires to Chicago and New
York. Closing prices are. bid: 1