The Minneapolis journal., 1901-01-28
INVESTMENT GOSSIP

New York gossip: Speculation in American
Steel and Wire common in anticipation OF To-
days dividend has been more active than
usual The largest buyers have been c. J.
Lawrence Sons, 5.OOO and Strong -Sturgis,
5000. The Chicago houses have been free
sellers, as we'll as the brokers usually cred
tied with the Gates party.
New York to c. E. Lewis: London shows
advance Of u per cent on St. Paul The
much. .talked-of st. Paul deal is the al-impor-
tant factor In our market at present The
most generous explanation Of the plans is that
$4,000 OF 33 per cent collateral trust bonds
are to be given for each 100 shares OF st.
Paul. This is not confirmed and it is said
the St. Paul directors will hold a meeting,
possibly to-day, to take up the deal whatever
It may be. It Is rather surprising that St.
ray Fa9l IS not mncn higher IN London as 1t is
said that or 5 points was bid over our close
at the Waldorf yesterday 1t is more than
likely that the whole market will show fur
ther advance.
New York to Andrews: Market has devel-
oped a more confident tone and the present
week promises to show higher prices all along
the line. St. Paul will be the leader and on
any advance to-day it will be we'll 70 take
pronts and on any reaction buy.
st. Paul, net December increase $62 450f
Atchison increase, $269. .79O for December
Logan to Jolley Feature of London was
strength OF st. Paul at an advance OF ~
There was heavy. buying by brokers usually
room to indicate that the St. Paul deal was
really on again and room generally started
to bull the stock. On extreme advance heavy
liquidation caused a sharp reaction but 1t
was noted excellent support developed de-
cline, New York News says the underwriting
syndicate to the per cent collateral trust
bonds is made up. Both Rock Island and
Chicago, Burlington & Quincy sympathized
with advance in st. Paul and Northern Pa
cifc Joined in to a moderate extent. 1t was
stated the dividend on A. S. w. would be at
the rate Of per cent. The source is not
very reliable. Market has an excellent un-
dertone.
Logan to Jolley: The corn market has
taken lot OF selling by local operators, such
as as Barrel This selling forced the price to
80, but it rallied quickly and acts Arm. I
think the short interest is growing in corn
and will soon be top heavy unless we get
a break. that some Of it may be covered in
the meantime,
New York to Watson: The London market
showed strength before the opening and
prices here under the leadership OF st. Paul.
advanced in sympathy. Quotations ruled ir-
st. Paul developed marked strength. and un-
der this influence the whole list closed at
much higher figures. There is renewed talk
regarding the completion OF the St. Paul and
Northern Pacific deal in the near future
Money Is easy, railroad earnings very salts
factory and general conditions favor con-
tnuation Of the bull movement. On the
other hand, speculation has run wild. Mar
ket has been overbought and temporarily we
have seen some cessation Of activity. We
are not so sure, however, that the time is
Lot at hand when strong interests will again
take hold Of the market to advance 1t. The
market has had quite a decline and apecula-
ton has drifted to a low ebb.
New York to Edwards Wood & Co.: The
stock market, while reacting from the high
prices after the opening, shows very firm
tone and no large pressure of sales. 1t ia
under control OF the strong interests and
material setback can be looked for while con-
ditions cotinue favorable as at present. The
good effect on net earnings OF the large COM
binations In the railway systems are hardly
felt az yet, but will show materially later on,