The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-02-27
THE MARKETS
Wall Street Review.

New York, Feb. 20.--Thc proceedings in TO.
days stock market were practically repetition
of those OF the last few days. That II 10 say the
important railroad and industrial stocks of the
largest capitalization, which usually take the lead
in market movements were allowed TO slumbcr
while various obscure and rarely active stocks
were taken up one after another and pushed up
wards IN more or less sensational movements.
This order of things was varied in the last hour
by u sharp raid OH the part OF the professional
bears. The ostcnsible reason for their selling and
offering down prices was the announcement Of
engagements for gold for export by tomorrOws
steamer to the amount of s2,i5OOOo. The per.
sistent dullness OF the whole market and its
refusal to advance under thr efforts to stiinu'
late IL by marking UP individual stocks inn
pressed the professionals with its vulnerable po'
sition and the announcement of the gJd exports
was rather II signal than motive for the at.
tack. Reports OF damage to the winter wheat
crop were used to advantage by bears in their
raid. Missouri Pacific was for this reason ts'
pecinlly vulnerable and its report OF a decrease
in gross earnings for the third week in February
Of $4,000 also added to its weakness. II was nos
ticeabic. however, that roads which reported IN
crcases for the same period and especially MChi.
son, with its january increase in net of $2O,sib
were not able TO resist the decline. Neither stock
was so acutcly Affected however, rs Missouri
Pacific. The announcement OF gold exports was
hardly surprise as sterling exchange mas nov
cred about the point all the week, Foreigners
have been heavy sellers Of stocks since the news
of the governments procedure against the North
crn Securities company and the supply OF com
mCrCinl exchange DlllS IN lhe inhrkel ~ WY
scanty The money market In New York has not
showed the slightest reflection OF any coming
stringency, yet the 'sub.treasury operations have
already taken up nearly a million dollars since
the last bank statement aud with New York eN
change at Chicago down to 1j cents discount, the
interior movement Of currency is probably away
from New York. An early response i'll the local
money market is highly probable. Tile advances
in today's market almost universally WITH
out explanation. III the case of the minor raii'
roads they were based general assumption
that absorption Of these by the larger systems IS
manifest destiny OF the more prominent stocks
there was strength in Pennsylvania the Fries,
Wabash preferred and Illinois Central. Anal'
gamated Copper, >,yas active and irregular. other
stocks notably affected were the Colorado ana
South stocks, the Denver and Rio Grande stocks,
Chicago and Eastern Illinois, the Evansville and
Terrc Haute, Chicago Great Western. preferred A.,
the St. Joseph and Grand Island stocks, Ann
Arbor preferred, Duluth, South Shore and At.
antic preferred the Minneapolis. st. Paul and
Sault Ste Marie stocks, Des Moines and Fort
Dodge, Kansas City Southern preferred. Fort
Worth and Denver City. the Detroit Southern
stocks. Peoria and Ecastern, Kingston and Penn
broke. the American Bicycle stocks North Amer
lean and United States Reduction stocks Some
of these suffered from realizing. Tic total sales
were $4,000 shares.