The Saint Paul globe., 1902-04-01
CTOCKS, BONDS
~ A AND MONEY.

NEW YORK, March 31.-The profess
slonal element on the stock exchange had
some hopes that the favorable bank
statement, published On Saturday, during
the holiday interval in trading would in
duce some speculative activity and they
marked up prices at the opening today
with a show of recovery. The market,
however, almost Immediately developed
the spotty character which has been the
rule OF late. and fell into heaviness and
semi gnation.
There was an upward movement to-
wards the end of the day, based on the
assumption that the quarterly and
monthly disbursements to be made to-
morrow and the completion of the prepa-
ration for them would result in a re-
taxation Of the money market. But the
last upward movement showed signs of
being abortive. like that at the opening.
and did not extend to large number Of
stocks.
st. Paul was about the only stock
which is usually prominent to show an
advance of over point, in spite of the
decrease in net earnings for February
reported today, while Union Pacific,
which reported a handsome increase in
February net earnings, fell snort of the
point advance and reacted again be-
fore the close Rock Islands 4-point
advance and the gains by the Chicago q
North Western stocks were not very con-
Vincing, W4.Ile the rise OF all the way
from 1 to over points in a group of
of less conspicuous stocks was quite in
ing.
The Canadian Pacific group, including
the Minneapol st. Paul & Sault Ste.
Marie stocks and the Duluth, South
Shore & Atlantic We're most conSpicu
Gus in this category. Hooking Valley
also forged upward 2 points.
The heavy interest in these was dwarf
ed by the overwhelming preponderance of
Colorado Fuel, Amalgamated Copper and
Sugar in the dealings All of these were
depressed after the opening, but recoV-
cred sharply, Sugar rising a point above
last week on account Of the report from
the committee on ways and means Of
the Cuban reciprocity bill.
All three stocks reacted again at the
close, which was irregular. Although the
completion of the preparation for the
April l settlement seems to insure the
money market against any present furry,
there is no expectation in well informed
circles of an early relaxation in money
rates. Foreign requirements are too large
down without drawing gold. Todays
advance in sterling, in spite of the closed
markets in London and Paris, indicates
that gold may go out anyhow.
Payments of government interest this
week in London are expected to ease
that money market but the British
chancellor of exchequer will undoubtedly
take advantage of the position to place
the new loan, which is expected to
amount to $3.50, ,G0o, 600, the monthly in
stallments on which will hold the mar
ketS nrm In the future.
Government interest payments here In
New York of about ZOO 900 will be
promptly offset by doubts OF lawful
money to retire bank circulation up to
the s3000,000 limit allowed, applications
for which are already on file in Wash
ington. Other uncertainties which have
overhung the market for some time past
and relief which does not appear in sight,
promise to keep a restraining influence
on speculation for the immediate future.
Some of the SDecula tive bonds were in
clined to advance, but there was no gen.
eral activity in the market. Total sales,
par value. $4,675,000.
United States bonds were unchanged on
the last call.
Stocks.