The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-03-01
CTOCKS, BONDS
- @ AND MONEY.

NEW YORK, Feb. 28.-The forecast of
the bank statement and the prospect Of
additional heavy requirements upon New
YORK bank reserves oVercame the mar
ket today and dragged prices downwards.
The decline toward the latter part of the
trading showed more consistency than
any previous movement during the week.
Prices of all classes of stocks were alike
affected both the minor specialties
among which there had been some show
OF strength earlier in the day. and the
leading standard stocks which had lain
inert until the selling movement began.
The liquidation was not urgent and
showed no signs of being forced but it
was evident that it was thought best to
be prepared for contingencies in the mon
ey market and take in all sail possible.
The preliminary figures of the week.
caSn movement as usually published on
Friday, which include the known move
ment Of money up to Thursday night,
indicated that the banks have lost nearly
$6,OOc,OO0 in cash during the week. The
exports Of gold called exactly for $3,5l3,-
1913. The routine subtreasury operations
took $3.50 1T. he regular express move
ment with the interior was in favor of
New York to the extent of less than
81 ,0Oo, 700, and today there was deposited
at the Subtreasury $500,000 for transfer
10 chicago, which would about wipe out
the earlier gain by the banks The loan
item remains in the usual obscurity, but
! mere mas peeh no important stock mar
ket liquidation, syndicate subscriptions
TO the Glucose and Starch combination
have BEEN called, and there is a possibiI-
1ty that the gold exports represent the
repaying of foreign obligations and
their transfer to local banks, as was
the case with the last gold that went out
mere is no great hope, therefore. of
anything but a very weak bank return
tomorrow. Beyond that the persistent
nrmneSs of the foreign exchange markets
indicates that further gold will go out
by export next week. The first deposit
at the subtreasury for transfer to the
west Is generally accepted as the sign of
the turning movement of currency awav
from New York again to meet the usual
spring requirements in the interior New
YORK exchange at Chicago, however re-
covered today from SOC discount to zoe
discount. The request to the treasury
authorities to deposit gold in New York
10 pc drawn on at San Francisco fore.
snaooWs a further movement, which
promises to reach nearly $4,000. 900, and
winch Is connected with syndicate pay
ments for street railway properties With
surplus reserves of the banks last SAT-
urday already down to the modest show
ing Oh $l2 456, 650, the money outlook seems
somewhat formidable for speculators on
loan market for accommodation with
winch to carry their holdings On the
Other hand, March interest and dividend
disbursements will be unprecedentedIV
large this year, estimates of the amount
running to $57,0O0,00O. The spectators.
however, evidently took the view that
Caullon was desirable and they sold
their holdings. The days net losses r1n
over L point for some of the important
stocks. 'e'i'
The bond market was dull and moved
very narrowly. Total sales, par value
100000.
Stocks