The daily morning journal and courier., 1902-03-06
Etnanctal
THE STOCK M ARK E1.
Weakness Overcome After Time.

II
 New York, March 5.-Speculative sem timent was somewhat treasured to-day over the money outlook and the rather acute weakness with which the trading ! ended last night was overcome after a { morning, but the market gradually set 1 tied back into its recent condition of ! dullness and spOttiness, the specialties again coming to the front. There was l some fairly sensational gains here and ] there which served to keep the under l tone of the narrow market steady. The l money market failed to show the sud- ! den construction of supplies which had l been dreaded yesterday as result of | the unexpectedly heavy demands con verged upon the New York market | The calling of subscriptions to the San Francisco Traction merger proved a relieving force to some degree, instead I of aggravating the stringency as had been feared This was due to the fact that foreigners are subscribers to the syndicate, and their remttances to New York in response to the call relaxed somewhat the foreign demand for gold. No further actual engagements of gold were made to-day, and not all the gold that was expected was packed for to- morroW's steamer. It is not forced supposition, also, that the $1 ,000, 900 1>n,, ,l,
 redemption yesterday was preconcerted
 as a set off to the gold to be deposited
 at the sub treasury for telegraphic
 transfer to San Francisco. The move
 ment to San Francisco has some pug
 zling features about it, and the appli-
 cations to the Washington authorities
 for permission to transfer $50, ,0000 900 to
 $60, 100000 to San Francisco arouse sur
 misses as to other possible demands.
 There was some revival of talk of
 Japanese loan to be paid by shipments
 through San Francisco in consequence.
 Money in London was appreciably cas-
 fer to-day, and sterling at Paris rose a
 fraction Both of these movements are
 an index of relaxed pressure for gold
 upon New York The question of fur
 ther exports this week beyond the ship
 ment of $1.500. 900 by to-morrow's steam
 CT and the s1,25o,000 engaged for Sat
 urday's steamer is therefore an open
 one The absence of apprehended strin- | gency in the money market was supple
 mented by some good returns of gross
 earnings for railroads in the fourth
 week of February and by confident as surances that there was no cause for fear of labor troubles in the anthracite coal fields Of the days specialties Col orado and Southern again became con- spicuous on an enormous demand, with revival of rumors ofsbuyfor control. The advance in Chicago and Northwestern was on unusually large dealings for that closely held stock and was without specific explanation The death of Leonard Lewisohn f1dueed some selling of Amalgamated Copper. but the stock 1 found support. Missouri Pacific was under some pressure. but rallied with l the rest of the market and closed with l a small net gain The United States Steel stocks maintained their inertness and moved within d fractional range. | There were wide movements in. a num- Der of less important stocks which were | without explanation, Realizing made | some nroads upon best prices and the | closing was dull and irregular but | with substantial next gains remaining. | There was no marked activity in the | bond market and the movement of | prices was somewhat irregular, Total | sales par value S2,92000o.
 United States 2s advanced h per cent. | on the last call.