The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-03-22
CTOCKS, BONDS
~ - AND MONEY.

NEW YORK, March 2f.-Today's stock
market was still highly professional and
there was abnormal activity in stocks
which are usually not a figure in the trad
ing. Considerably more attention how
ever, was given to the representa- tive
stocks in the list, which are quite gener-
ally higher as a result of the days trad
ing In most instances the gains Were
merely fractional, but in such stocks a s
St. Paul, Louisville & Nashville, Illinois
Central and st. Louis & San Francisco
there are substantial net gains recorded;
Rock Island moved rapidly upwards IN
the last hour to $50, a net rise Of ~.
Ihere was no special eXplanat ton Of this
sensational advance, but the traders were
inclined to buy the grangers and South
westerns en- the strength of the reports
of rain in the Southwest ard the hope
OF benefit to the wheat crop.
Sugar was inclined to be heavy during
the early dealings, but became very
strong towards the close, rising 3 points
over last night and closing a net gain of
Amalgamated Copper was heavy all day
on rather smaller volume of dealings
than lately, but a late recovery left it
only fractional lower on the day. The
speculation in Colorado Fuel continued
very active and feveriSh, the Price rising
at one time 17s over last night and then
falling rs under. The change on the day
was fractional net loss.
Tennessee Coal and Hooking Valley
Coal were affected in sympathy The
inertia Of the United States Steel stocks
was undisturbed. Conspicuous new can
dldates for buying demand among the
less prominent stocks were the Minneap-
oils, st. Paul & Sault Ste Marie stocks
the Duluth, South Shore & Atlantic
stocks, the Keokuk & DeS Moines stocks,
International Pump preferred United
States Rubber stocks. the Rubber goods
stocks and American Telephone and Tele-
graph. The gains in these ran all the
way from point to points and Were en-
t1rely without published explanation.
They were balanced by relapses of to
points among stocks of a similar class
which have had previous advances.
The local traction stocks were rather
dull and heavy and were apparently not
affected by the plans adopted yesterday
for readjUstment of capital. The late
rise in the market was to some extent in
an expectation of a favorable bank state
ment tomorrow.
The banks seem to have gained from all
sources during the week nearly half a
million dollars AS the movement with
the interior has been against New York
TO the extent Of over a million dollars,
this gain is entirely due to subtreasury
operate rs. which had yielded up to last
night 1852. coo This includes the pay
ments for government bonds in connec-
ton with the closing up Of the rederap-
ton order. The total amount of those
payments being considerably more than
the net amount yielded TO the banks on
subtreasury operations.
With the redemption order suspended il
viii be seen therefore that the actual
working factors are toward depletion of
cash reserves. 1t is taken for granted
that the banks have reduced their loans
during the week to a considerable extent
50 that REPAYMENT of the surplus is ex-
pected. The market closed about steady
and near the top.
The bond market was somewhat irregu-
lar. Total sales, par value, &. $50, 900.
United States bonds were all unchanged
on the last call