The daily morning journal and courier., 1902-03-07
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 THE SIOCK II 4 KK E1.
Remarkable Exhibit of Strength in
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 | New York. March 6,--To-day's stock market made remarkable exhibit of strength in spots Several of the GUS | tomary market leaders were 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 higher level. As the advance gained headway various outstanding short in- terests were put under pressure and bought rather urgently to cover short contracts. The demand was so far un- questionably genuine. Otherwise there was the appearance of manipulation. This was partly due to the character of the stocks which advanced most con- spicuously stocks which are often not heard of for weeks at time on the ex- change.
 Nor was there any tangible news to- day to account for their strength either affecting them individually or the gen eral situation. In fact, the conditions which have made the basis of the bear argument earlier in the week continued in force to-day, The great snow storm, with the new obstruction to traffic, threatened inroads upon future show ings of earnings. The engagements of gold for export on Saturday were in creased to-day to 3,3OO 900. with the possibility of further engagements to- morrow still open.
 Reports of friction over freight rates in the southwest and of the dissolution of freight associations on account of threatened action by the government continued to be heard. These would all have induced selling of stocks In the speculative temper which prevailed ear Her in the week They were ignored to- day. A very strong sentimental effect was produced by the persistent show of strength in Chicago and Northwestern and the character of the buying which lifted it and which had every appear ance of genuine investment demand. It was this movement which directly en- couraged the heavy buying of St. Paul and which leavened the whole market
  plemented by similar movements In other high grade, closely held stocks, such as Pullman, which rose an ex- treme 16 points; Chicago, St. Paul, Min neapolis and Omaha '. and number of less conspicuous examples. Northwest ern itself touched 233. During the ex- istence of corner in the stock years ago it touched 230, which was the pre- vious record Pullman, General Elec- tric. Omaha and Chicago and Eastern Illinois also made record prices to-d day. Another notable movement was in Col | orado Fuel, which gained 10 points on a very active demand and a very fever ish movement. This movement is sup | posed to be directly related to that in | Colorado and Southern. which was in c1ined to rest to- day although the sec | ond preferred was advanced points. | Outside of these the most notable move | ments of the day were in a varied as- | sortment of low grade obscure stocks. The movement ultimately extended, | however, to some of the soft coalers. led by Pennsylvania and other promi- nent stocks. The late dealings showed the usual profit-takiug and the closing was irregular.
 Rates for call loans continued at the | higher level established during the week The announcement that the San Francisco traction deal would be ar | ranged without transferring money through the sub trea sury relieved some anxiety over the money outlook and re- vealed that the tentative inquiries in . Washington as to the facilities for the transfer of ,OO0 to s60, 900 900 were probably a strategic move having to do with the negotiation of exchange on San Francisco in the market
 The bond market continued rather dull, but was firm. Total sales, par val ue, $2, ,4S0 000
 United States twos registered and the threes advanced A per cent. on the last call