The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-01-24
CTOCKS, BONDS
~ - AND MONEY.
Closing.

Closing
Thursday. Wednesday
Call money, New York. .212-315 3312
Bar silver, New York. sos 55A
NEW YORK, Jan. 23-There was no re-
turn of animation to the stock market
today, and the bulk of small operations
was confined to a short list of stocks,
which advanced quite strongly from the
influence of special causes. Even in
these the dominant professional element
was evident in the selling to take profits
OF the advance. There was a movement
in the Vandarbilts which was apparently
stimulated by assertion that part of the
new stock issue of the New York Cen
Cleveland, Cincinnati Chicago & st. Lou
is, but the movement spent its force in
the course Of the day. st. Lawrence Sc
Adirondack was marked up over points,
apparently on the expectation that it
would be taken over by the New York
Central. The recently prevalent strength
of the local traction stocks led, by Met
ropolitan Street Railway, continued for
time today, but the whole group sue
cumbed to realizing.
Sugar succeeded to the leadership OF
the market, and late in the day was
lifted 3% points over last night An
advance of 10 points In the price of the
product and reports of an agreement at
Washington looking to the free entry of
Ghban raw sugar were accountable for
that movement. The news that an agree
ment had been reached between Western
railroads and packing house interests to
maintain rates, thus relieving the OBJ
lectlonable conditions against which the
inquiry by the Interstate commerce COM
mission is directed, had a stimulating eff
feet on the Paclfics, Changers and South
westerns. The recommendation in the
commissions annual report in favor of
allowing associations to maintain rates
was helpful influence for Western rail-
road stocks. Missouri Pacific led, with
rise of over 2 points. Dealings In the
n lief vnISN N17l1 ,1a1a 1N<rT
ever. Amalgamated Copper showed some
strength. on the growth Of foreign de-
nland for raw copper. There are growing
symptoms of a plethora of money at all
of the great centers of capital
Iedav's reduction In the Bank of Eng
lands discount rate was contrary to ex-
pectation, as large collections of taxes
were expected to deplete the London mon
thought necessary to Keep up the money
rate in order to prevent Withdrawals OF
French capital. Today's statement of the
Bank of France shows such an accumu-
ldtion there as to offer little inducement
to- call. home capital, but Berlin seems
the center of greater redundancy, as is
shown by the fact that Berlin has been
buying bills in the London money market
and easing the discount rate there, while
in the very act of subscribing sixty times
over for the proffered governm emit
lean OF $4,000 Geo; all of which
discount rates. at that center There
is a continued accumulation Of money
in New York also, but, without the slim
ulating effect On speculation which is
manifest at ether great money centers
A remarkable development in the situa-
ton. here is that. very large time. loans,
running into the millions of dollars, are
being negotiated at interior domestic
points for New York account.
There was continued activity among
usually quiet bonds, and some striking
gains were recorded, but the market gem
VIZ nfol esaly1
lie. IS, ,Oo0. United States new Is ceu-
bon. declined per cent on the last
call 49, ID e.,cr 4 s=re9.-.,4
stsqe zysr Stocks. y +aa