The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-01-15
CTOCKS, BONDS
~ @ AND MONEY.

NEW YORK, Jan. 4-There was consid-
cradle disturbance of speculative Senti-
ment in the stock market today, and
the movement to sell gained increasing
in the final hour, when the heaviest
selling of the day was done and the
market closed active, and weak and gen
orally at the lowest, net losses running
principal stocks. There were some Spe
clal causes for weakness of individual
stocks which affected the general market
by sympathy to some extent but the
movement as whole was due to general
causes which have been gaining an in
nuence for several days past.
All minor differences III Interpretation
OK er the standing of the case against
tie Northern Securities company arc
sunk in the general consideration that
the legality Of the combination is to be
submitted to determination by the courts,
anC that the value Of its securities are
to be in allegiance during a probable pro-
lcLged litigation. The bearing of tho
decision in other combinations, makes
the decision of this case of vast impor-
lance to the whole securities market
inc difficulties developed in the several
Industrial combines which have suffered
nom impaired credit have given rise to
a much more conservative spirit among
lenders of money and buyers of secur-
tiles.
Today's upset in the grain markets.
resulting from over commitments in
l.
rec thy upon the stock market Besides
these general considerations, Wall street
had rumors that a new bond issue by
the Erie Railroad company was imminent.
and on these the stocks of the COM
pany declined IA and pa points The
remark by President Thomas in the last
annual report that it would seem as
though the day is now approaching when
arrangements for new capital can be
pr0htably made" was regarded as a
substantial basis for these rumors.
Inc cut in the prices of refined sugars
COST that speciality points. There was
noticeable weakness in a group of stocks
in which there has been speculation in
hope of dividend increases or the begin
mig OF dividends. There We're fears that
these hopes would be disappointed The
New York, Chicago & st. Louis stocks.
the St Louis & San Francisco stocks.
Lake Erie Il Western and United States
Express might be included in this cate
gerry. The Atchisons were heavily sold
on continuing dissatisfaction over the
debenture bond issue. Aside from these
lnte1 ests, the selling was pretty well dis
tribEted. There was a period of some
stteEgth IN the morning, led by Manhat-
tan. with a rise of 1k, but that stock
fe-l with the rest of the market. Glu-
cGse rose 3%s in face of the general de-
cIre. Sterling exchange was somewhat
easier, leading to the supposition that
geld may not be exported after all this
week, but the market was little affected
py TINS development and by the liberal
gelns of cash on subtreasury operations
The payment today of $3.50 600 in redemn-
ton of the Hawaiian loan assumed nv
the United States will accrue to the ben
ert of the market.
Active bonds weakened in sympathy
with stocks, but some less active issues
ned early gains. Total sales par value
$S,6loO0o United States bonds were ali
unchanged on the last call.
Stocks.