The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-03-15
STOCK MARKET WIS Dull
STRENGTH FAIRLY WELL MAIN
TAINED-DAY's FLUCTUATIONS
WERE VERY NARROW
DIVIDEND WAS DISCOUNTED
Announcement of Increase for MIL
wauIxee Stockholders Had No
Effect-Heavy transactions
In Railroad Bonds.


NEW YORK, March 14.-There was
more activity and variety In the last half
hour of today'S stock market than dur
ing any other period of the session. A
buOyant rise in the Erie stocks led by
the seconds preferred and followed by
movement among the shorts all around
the room and a smart rise in prices.
The bears rallied their forces and raided
stocks here and there sufficiently TO
close. The advance in Erie second pre-
ferred in the final bulge was AZ and the
in sympathy The st. Paul dividend in
crease seemed to fall fiat on the mar
ket. The expectation of the afternoon
action had held the market in check all
2 points during the morning but when
the increased dividend was announced,
selling to realize wiped out all but q
small fraction of the rise. 1t looked as
though the heaviness in St. Paul would
carry down the whole market, until the
rise in the Fries stif1ened the tone. For
narrower of late. 1t continued to be
characterized. by the movement of spe-
cialties to large extent. The South
western railroad stocks continued in
large demand on the general ground OF
the prosperity of that section OF the
country and the expectation of the ANAL
gamation of important railroad proper
ties Wabash securities came to the
front in the movement and were bought
on very large scale. Many of the minor
railroad properties continued unusually
conspicuous on the professed belief in
their coming absorption by the great
systems Several Of the subsidiary Van
derbilt lines were included in this move
ment today Chicago. Indianapolis g
Louis first preferred moved up points
and other stocks Of these companies and
Canada Southern between l and 2 points
Lake Erie & Western after an early adj
q
changed. The Minneap polls & ST. Louis
stocks rose for the common and 21a for
the preferred. st. Louis & San Francis
co suffered from realizing, losing at one
time ~. There was large realizing go
ing on under cover of the points Of
strength and many stocks which advance
course of the day. Amalgamated Cop
per, after early weakness. turned very
strong, with closing net gain of ia
Continental Tobacco preferred rose 81
The continued ease of call money in
spite Of the calling of some loans, quiet
ed apprehension on the score of money
rates. The calling of loans was in prep
aration for tomorrow's large dividend
disbursements. including $40 GO0O0O by the
standard Oil company. The disburSe-
ment Of these dividend funds is looked
forward to to replenish the money market
and to find employment in the stock
market. 1t is worthy of notice in this
connection that some of the recent buy
ing of stocks is attributed to interests
who will benefit by tomorrow's dividend
distribution. London bought quite free
ly in this market, especially of Chicago
Great Western. and cheerful tofe was
reported there by reason of the belief
in an early peace in South Africa Ster-
ling exchange hardened here in spite Of
easy money in London and the buying
of stocks here for London account. Buy
ing for remittance on account of sub
scrlptions to German municipal loans is
believed to be the cause of the higher
exchange rates.
Business in railroad bonds continues
very large. but profit-taking in the spec
ulative issues caused some irreguIarity in
today's price movement. Total sales, par
value. IS, 065, 000
United States refunding Is, the IS and
new As advanced Is per cent on the last
call
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith e;
Co., members of the New York Stock
Exchange, Pioneer Press building, who
have direct wires to Chicago and New
York Closing prices are bid: