The daily morning journal and courier., 1902-02-25
FtmnncraI.
THE STOCK MARK EJ.
Sinks Back Into Professional Hant

Sinks Back Into Professional Hands.
 New York Feb, 24,-The stock mark
 ct sank back into the professional trad
 CTS hands to-day and there was no im-
 portant movement except in a few
 stocks in London since the close here 1 Friday afternoon had to be faced at the
 opening. This caused a lower level at 1 first than on last Friday, but prices
 were at no time down to the London
 parity, and they soon commenced to re- cover, in spite of the selling on arbi- trage on London account at the ad- vance. The confidence that the SUI
 preme court would refuse jurisdiction
 in Minnesota's suit against the North ern Securities company, which has been
 firmly held in Wall street, for three
 weeks, was unimpaired this morning,
 and the traders did some of their buy
 ing on that basis. The announcement
 of the decision by the court failed to
 attract any outside demand and the ef-
 forts of the traders to take their profits caused reaction in the market and an
 easy closing. The decision of the ad-
 mnistration to push the case against
 the Northern Securities company re- moved much of the importance Of the other suit. But the fact remains that one possible course of procedure against the company is closed by this decision, and a step thus achieved towards the establishment of the company's status. It is generally felt that all possible courses of procedure will have to be met in the same way. The profes- sionals who were on the bull side to- day exchanged assurances that the ad- ministration's suit against the com pany might be regarded as in the na- ture of a friendly process to establish the true standing of the company, un- der the law, and the visit to Washing ton of some of the principal financiers interested was urged as a favoring factor for the outcome of the case. This sort of argument was not so convincing but that the professional traders kept keenly alert to each others movements, and when important selling to realize developed, all turned to the selling side. The largest dealings were in stocks which moved under individual 1nfiu- ences. In Sugar the influence was dis appointment over the measure of relief agreed upon by the ways and means committee from the duty on Sugar and Amalgamated Copper was af- fected by the reported sale to it of a | mine and the removal of threatened lit igation. Colorado and Southern was heavily bought with an advance of over a point on reports of, transfer of control. An upward movement of a | number of low priced minor railroad f stocks had nos other apparent cause | than sympathy with this movement in | Colorado and Southern. Tennessee | Coal was a feature at an extreme ad- vance of 3A on rumors of a resumption l of dividends. Dealings in Southern Pa cific continued large, but the move | ment in the stock was small Foreign exchange continued to advance to-day, | influenced by Londens selling of secur- ities here and the small supply of com mercial exchange bills, but the local money market continued easy Chica go Indianapolis and Louisville advanc- ed 3as, but relapsed nearly 5 The bond 1 market showed some degree of firm ness, but business was not large except in the Wabash debentures. Total sales par value, S3,S49,000
 United States 3s coupon declined 1s and the registered advanced 4 per cent. on the last call.