The Saint Paul globe., 1902-02-25
CTOCKS, BONDS
~ ss AND MONEY.

NEW YORK, Feb. A.-The stock mar
lxet today sank back into the professional
traders hands and there was no impor-
tant movement, except in a few stocks
of smaller railroads not allied to any Of
the great systems and in some minor in
duStrlalS. The declines established for
American stocks in London since the
close here on Friday afternoon had to be
faced at the opening. This caused a
lower level at tlrSt than on last Friday,
but prices were at no time down to the
London parity and they soon began to re-
cover, in spite OF the selling on arbitrage
on London account at the advance
Confidence that the supreme court would
refuse jurisdiction in Minnesota'S suit
against the Northern Securities company,
which has been firmly held in Wall street
Ior three weeks, was unimpaired this
morning and the traders did some of their
buying on that basis. The announcement
of the decision by the court failed to at
tract any outside demand and the efforts
of the traders to take their profits caus-
closing.
The decision of the administration to
push the case against the Northern Sc
curitieS company deprived the other suit
OF much OF It's Importance, but the fact
remains that one possible course of pro-
cedure against the company is closed
by this decision, and a step thus achieved
towards the establishment of the COM
pany'S status. 1t is generally felt that
all possible courses of procedure will
nave to be met in the same way The
. piO1SSSlOildlS VINO were on the bull side
today exchanged assurances that the ad-
minlstration's suit against the company
might be regarded as in the nature of a
friendly process to establish the true
Standlng OF that company under the law
and the visit to Washington Of some Of
the principal financierS interested was re-
garded as favoring factor for the out
come of the case.
This sort of argument was NOT So con-
vIncing but that the professional traders
kept keenly alert to each others move
ments, and when important selling to
feahZe developed, all turned to the sell
ing side. The largest dealings were in
stocks which moved under individual in
HuenceS.
In sugar the influence was disappointed
over the measure agreed upon by the
ways and means committee from the duty
on Cuban sugar.
,Amalgamated Copper was affected by
the reported sale to it of mine and the
removal OF threatened litigation
Colorado & Southern was heavily
Dought with an advance of over a point
on reports of a transfer of a control An
upward movement of a number of lower
priced minor railroad stocks had no other
apparent cause than sympathy with this
movement In Colorado & Southern.
Tennessee Coal was a feature at an
extreme advance of 3Ac on rumors of a
resumption of dividends. Dealings in
Southern Pacific continued large, but the
movement in the stock was small
torelgn exchange continued to advance
today, influenced by London's selling of
securities here and the small supply of
commercial exchange bills. but the local
money market continued easy. Chica-
go, Indianapolis & Louisville advance q
39s, but declined nearly g.
The bond market showed some degree
OF flrmneSS, but business was not large
except in the Wabash debenture Bs. To-
tai sales, par value, $3 10000.
United States IS coupon declined H. and
the registered advanced Il per cent on
the last call.