The Saint Paul globe., 1901-06-14


NEW YORK. June 13.-There was a
notable increase in the speculation in
stocks today, the days business rum ng
up to near million shares. Speculative
interest was stfIl decidedly spotty. but
the strength of the principal active
stocks was so decided as to affect the
whole list by sympathy with a few un-
important exceptions. There were points
in the list, nevertheless, which Were held
back by palpable realizing. The real q
ing was well taken and inflicted no loss
es on the stocks.
pennsylvania was a notable example
in this category, and the SouthWeSteIns
did not share to the full the buoyancy
of other Western railroads. Very large
amounts of Pennsylvania stock have
been marketed this week, and in the
loan crowd the stock commands a pre-
MUM. The selling is to a large extent
against the buying of rights to sub
scribe to the new stock issue NotWith-
standing the official disclaimers of the
reported purchase of the Pennsylvania
Steel company by the railroad company,
Wall street opinion regards that as an
strength of Colorado Fuel and the buy
ing of that stock by some brokers usu-
ally employed by the Gould interests
arc used conjecture that the control
of the Colorado company was being
sought by the Gould-Harriman interest
with the same purpose as ascribed to
production of its steel rail supply. The
advance in Colorado Fuel reached Sk,
carrying it above yesterdays high price.
Other independent steel companies were
strong, notably Tennessee Coal which
rose 3A on the acquisition of the Ala
bama Steel and Wire company. The
United States Steel stocks were heavy,
the selling being attributed to the un-
easiness over developments of opp0si-
tion companies The Gould-Harriman
brokers We're active III various stocks,
notably in Union Pacific The buying
in this stock was on an enormous scale,
and was closely followed by ST. Paul
throughout all its fluctuations. The
street was in the dark as to the cause
of the movement, and - attributed it
vaguely to further working out of the
Northwestern railroad relations and the
favorable crop news. A Well-defned ru-
NOR gained currency towards the close
Paul represented in thei2directOry for
many years have been sold Fand that the
stock will appear in the collateral for
the Union Pacific convertible bonds.
Union Pacific rose an extreme 6B and
ST. Paul As. Missouri Pacific and some
of it's affilia ted stocks, notably Denver &
Rio Grande, continued to show the infu-
ence of expected action on consolida-
ton The rise in Baltimore & Ohio of
81 was on the judicial decision in favCr
of the rights of common stockholders
to all profits after the preferred dividend.
The preferred stock broke points from
the same cause. Cleveland, c., c.. 81
St Louis advanced 23s on the reported
acquisition of the Cincinnati Northern
Minneapolis & ST. Louis, after a further
decline of l point owing to disappoint-
ment over yesterdays unchanged divi-
dend. rallied strongly 5 points. The rise
of So in North American was accom-
panied by rumors Of additional enter
prises by the company. Western Union
gained 21s on the strength of its large
dividend return. Quite a long list of rail
road and industrial stock advanced from
1 to 2 points. The buoyant outburst in
Union Pacific made the closing firm, al
though there had been constant reac-
tions on proft-taking.
Special convertible bonds issue were
strong and active in response TO the
movement of their stocks The market
generally was moderately active and
quite firm, Total sales, par value, So, no.
Geo. United States bonds were all I'M
changed on the last CALL
STOCK QUOTATIONS.
Furnished by Charles II. r. 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: