The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-11-02

NEW YORK, Nov. 1.-The prevailing
was well illustrated by the widely d.
verse opinion expressed as to the effect
of the renewal of government bond pur-
cnases by me treasury. The wavering
sentiment shifted somewhat to the Cd.
timist side late in the day, when if ne
came known that the offerings of bonds
at the subtreasury already amounted 20
Sl,2S2,G0 thus promising considerable re-
lief to the money market. It was urged
this morning that the action of the sec
rotary of the treasury might be taken
as a warning of stringency in money
conditions to come, although the months
surplus revenues of 1890, 952 cor1parad
with a surplus last October of only
So, 65l, SIC, give sufficient ground for the out
lay in bond purchases without any re-
gard to extranenous circumstances. 1t
was also argued that the release of
treasury funds would simply serve TO ia.
cilitate the exports of gold. The closing
OF the London and Paris exchanges to-
DAY served to obscure somewhat the
question of the foreign situation and give
opportunity for a number of favorable
incidents to work with cumulative force
The result was rather animated buying
movement in the last hour which turned
the market strongly upward and left
prices at the top level ofs,the day A
few stocks show striking gains, the lead
erS in activity being a point above yeSter-
day in number of cases. Baltimore & Ohio
was conspicuous, in the late dealings and
1t rose 2% without definite news Penn
sylvania had the benefit of the extra div
idend declaration, thus making the re-
turn to stockholders 6 per cent for the
calendar year, or the same as last year
The preliminary figures of the movement
of cash disclosed the fact that the cur
rent interior movement had turned
toward New York, the net gain as a re-
suit Of direct express shipments amount
ing to 81, $50, 8T. The statement of SUBJ
treasury operations includes in its net
rnSlllf Of GOLD
at Pacific coast points, the transfers of
currency through that Institution and the
withdrawals of gold for export which eff
feet a loss to the banks of IS, 925. 900. The
loss In cash by the banks on all &c
counts seems. therefore, to be something
over 100000 for the week. The easy
condition of the money market and the
action in the stock market is pretty
clear intimation of Strength by the
banks, so that there may be changes N
the loan item to offset the cash loss To-
days cotton exports were again very
high, reaching 5000 bales, and the wheat
exports for --.e week have run up TO
6,672,Sss bu. 1t is believed that an active
movement <sof cotton abroad would be
most effective toward depressing ex-
change and checking the export of gold
There We're number of conspicuous
movements in less prominent stocks.
Minneapolis. st. Paul & Sault Ste. Marie
rose 4, the preferred 10, Pere Marquette
4, New York, Chicago & St Louis 1st
preferred 31a, Glucose 2B. National Salt,
preferred 4. New Central Coal company
and Wells-Fargo 5. Northern Pacific pre-
ferred gained 2 and Great Northern pre-
ferred IA. The local fractions were strong
and the Southern railway stocks, Louis
vile & Nashville, New York Central,
Hooking Valley and the stocks of car
companies showed strength. Sugar was
heavy on the cut in price by Compel
itor Evansville & Tefre Haute dropped
d. Railroad bonds were quite active and
irregular. Total sales, par value, $780,
0G0 United States IS advanced Il, re-
funding Is and old As u, the, IS Il and the
new As u per cent on the last call.