The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-03-02
CTOCKS, BONDS
~ ss AND MONEY.


NEW YORK, March 1.-The stock mar
ket was very listless and idle today and
rejected declining interest even on the
part of the professional traders. Many
OF these have taken advantage of the dull
| business on the change TO go away for
spring vacation trips and the absence
from the street of many of the bankers
and railroad properties, who are usually
concerned in large doingS, shows the
general quiescence in the present state of
thugs. The small traders whose deal
tngs make up the market devoted their
attention to the less important stocks
which have occupied them for some time
Past. With the exception of rise of
~ in American Cotton Oil, said to be
que TO favorable trade conditions, there
was TO movement of sufficient Importance
to chronicle
The bank statement showed a smaller
decllne IN cash reserves than expected.
out this was attributed to the working
or the average system of computation.
by which the gold shipments on Thursday
figure only three days in the statement.
The loan item was also a relief in the
modest proportions of it's expansion as
large increase had been feared. The
room shorts therefore covered and i'm
parted some slight strength to the mar
ket with both the loan and deposit item
of the bank at figures never before re-
corded in the history of the clearing
house, and with the surplus down to the
small sum Of SO, 975, 1896, the desirabilitv IF
caution in mourning obligation on the
can loan market is clearly recognized
anu there Is no apparent prospect of
ket. sun 4iiS'A
=, The, distinctive interesting feature OF
NE IIIao,L dealings IN the stock market this
less prominent stocks which are not i'm
medIdtely allied with the great railway
systems systems ana the, industrials of small
only by individual causes, and are NOT a
parCmeter of conditions Interest has
SlLILted from one to another of these dur
VIZ rde,eI me week. Usually some ostensible
reason was advanced for buying. mr.
Ihey We're for the most part vague RI
LIS, ana Inere We're often sudden re-
I"L9Sa IN prices when rumors failed of
coIIlIfmatIon, and the speculative no0Ig
responsible for the movements had t9I[ar
- regular profits. The sum of these
n nf oatiit4 helped out the appearances
the time, but they were IN ra3iit+ y
syn.ptom OF the underlying neglect ava
IlaIHefence of capital to the market
if Iar LII ne general market as a whole
~ IdS maintained a fairly firm undnr
tone, Notwithstanding the tendency "a
MdfuS SIagnatiOn. That is to saw hoGG
IT. IT. are not seeking to sell stocks while
onG uGlnand IS so slight that sales noIIi6
only be effected with c0nceceio,oe, ~ ~
PlIceS. MS agrees with the widely baIJ
eHeory mat very large volume 81 CO
soii5ati,, ,IlepfeSentlng the proceeds OF con
~, a1IoiS, IS IN strong hands, and thar
&c cotnpIete success of the consOIida tionS
cah9ot be said to be assured JI+tii Q 4i
inc I1IIG9 ma ownership with the invest
.n Much weight has been attached h,
Of 11in',a 70 the expected development
n ~ Pi9aS IQr Iurther consultations a.
Icy may be affected by the N0rfiat
otcunueS cOmpany's fate Tho ra - II
suit against this company nv H. n P C1@
TiiHi a bIlngs into question NOT 69ni,,
US own future but that If man Qiily
projects designed on the e91oa IT, oL Lrr
Settlement of the governments eIi4 G i
IcCGGSllIzed 10 be a matter of months onJ
iiepS years and no one SIIpDOsas ma
ne STOCK market will lie stagnant al
o, mere are factors Of more Immediate
sIpplicdIhon Which promise l1ncartoiy1tI
n1tlnni, speculative market. The money
0utiooA IS Dy no means clear and tho
assumption of gold exports on 1oroo
46a4o - d coInpIcating factor 1t is cin9r
Of i"o tue god has gone out in payment
~ III;' loi lilS Obligations abroad and tha
growing demands on foreign credit t i
IIGateS mat further calls Will be made h1,
s sals ,cQ4untry's foreign creditors Togg
parenty nn IN iha ta in London has ap
me taxing up of contracts in these has
IESSqGiled call for loans on the Bank of
i- iFSo leto on an enormous scale
Inc weekly statement of the RAM, 81
rance reIectS the tendency thee T,ba
supply OF exchange bills in our narIIo4 II II
n nTly 9eahty oWlrG to the small outward
ife, gItitHl OF gram and cotton and The
ship gold IS 10
"a considerable outward movement IS
e t,2ir5 during the coming month. The
ileui net IS already showing evidences 81
spring requirements for currency, viii
Mew York surplus reserves of modest
f fIllIehSlon, such as simultaneous demand
from both directions is likely In rns1lI+
IN IN Strengthened circumstances for those
qePehdent upon call loans as the w.
Jorlty of SPECTATORS are.
o. ne ne pef10q OF crop uncertainties is also
at hand Wednesday Of this week re-
potts OF damage to the winter wheat
crop made an effective Instrument IN The
h l3 Of the bears in the stock market
There is some apprehension likewise tbat
TABOR troubles may develop during he
spring oI5 especially in the coal mining
light on these questions. - 'i'7I
Ihere has been a good demand for
t. mostly for some of the specui9-
I'VE y issues. .. S. registered IS advanced
12 ana coupons and new As "a over tba
closing call of last week '--0
Stocks.