The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-03-07
CTOCKS, BONDS
- 4s AND MONEY.

NEW YORK. March 6.-Today's stock
market made q remarkable exhibit of
strength in spots. Several Of the GUS
tOmary market leaders We're included in
the upward movement. The strength OF
the market nevertheless failed to carry
conviction as to the genuineness of the
demand which lifted prices to a higher
level. AS me advance gained Roadway
various outstanding short interests were
put under pressure and bought rather
urgently to cover short contract. The
demand was so far unqueStionably gen
ulne Otherwise there was the appear
ance of manipulation. This was partly
due to the character of the stocks whidn
advanced most conSpicuouSly, stocks
which are often not heard of for weeks
at time on the exchange. Nor was
there any tangIb4e news today to &C
count for their strength, either affect
ing them individually or the general Sit
uation.
In fact, the conditions which have
made the basis of the bear argument
earlier in the week continued in force
today. The great snow storm with the
new obstruction to traffic threatened in
roads upon future ShoWings of earnings
The engagements of gold for expc-4 on
saturday were increased today to So 300,-
600, with the possibility of further en-
gagementS tomorrow still open. Reports
of friction over freight rates In the
Southwest and Of the dissolution of
freight associations on account of threat
ened action by the government continued
to be heard. These would all have in
duced selling Of stocks in the specuIa-
tive temper which prevailed earlier in
the week. They were ignored today
"A very strong sentimental effect was
produced by the persistent show Of
strength in Chicago & North w ern
and the character of the buying which
lifted 1T and which had every appear
ance of genuine investment demand 1t
was this movement which directly en-
couraged the heavy buying of St Paul
and which lPaV6nP6 the ItT1OIa
IN the course of the day. 1t was sup
piemented by similar movements in other
hlgh grade closely held stocks such as
points; Chicago, st. Paul. MinneanoIis
& Omaha, Z and a number of less con-
spicuous examples: North Western itself
touched 233
During the existence of a corner in
the stocks years ago it touched go
which was the previous record Pull
man, General Electric Omaha and Chi
cago az Eastern Illinois also made record
prices today Another notable movement
was IN Colorado Fuel, which gained 10
points on very active demand and a
very teVerlSh movement. This move
nent Is supposed to be directly related
to that in Colorado Southern. which was
inclined to rest today, although the sec
ono preferred was advanced points
outside of these the most notable move
nents OF the day were in a varied as
Sortment OF low grade obscure stocks
The movement ultimately extended, now
ever, to some of the soft coaIers, led by
pennsylvania and other prominent
stocks.
The late dealings showed the usual
proht-taking and the closing was irregu-
lar Rates for call loans continued at
their level established during the week.
Inc announcement that the San Fran
cisco traction deal would be arranged
without transferring money through the
subtreasury relieved some anxiety over
the money outlook and revealed that
the tentative inquiries in WASHINGTON
as to the facilities for transfer of $50,
OOoOOO to $60,o0O,00O were probably a. STRAIT
ton of exchange on San Francisco in
| the market
The bond market continued rather dull.
81. 4S0,0 O0
United States Is registered and the IS
! advanced a per cent on the last call
Stocks.
PsIHPhlLowlL e.
Atchlson ..............I 31OO 1878 751zI 1873