The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-03-14
CTOcKS, BONDS
~ ~ And MONEY.

NEW YORK. March 13.-Today's stock
market was again an affair OF special
ties, and the movement in the active
leaders of the market was exceedingly
confused and irregular and presented
many direct reVersals of the recently
prevailing movement in special stocks.
The stocks of the largely capitalized rail-
road systems of the country, which as
sumo the leadership Of the market In
times of great general speculation, were
neglected and almost immovable.
In such stocks as Union Pacific, South
ern Pacific, Atchison st. Paul and Mis-
souri, Pacific, as well as many other usu-
ally active stocks, the outside range for
the day did not cover more than II point
ings in some of the largely capitalized
industrials and in railroad specialties OF
small capitalization there was sufficient
activity to give the market some appear
ance Of animation. Amalgamated Copper
continued the most active stock In the
market, and the acute weakness OF yes
terday was overcome by vigorous sup
port
After ruling a fraction below last night
during the early part of the day, 1t rose
above in the afternoon and finished With
a net gain of l point. Sugar took Anal
gamated Copper's place in the column
and suffered extreme decline of near
ly points, but recovered all but a frac-
ton of it. The varying opinions on the
chances Of Cuban sugar for tariff con-
cesSion were the speculative material in
this stock Manhattan was very active,
and advanced strongly An uncovered
short interest was reported to be factor
in this advance. but reports were circu-
lated of large earnings. Other strong
points were North American, the Inter
national Silver stock and a number of
minor specialties. without any explana-
ton. Strength in the soft coalers was
due to the belief that an agreement had
been reached with the miners.
The anthracite roads, on the other
hand, reflected a recurrence Of uneasi-
ness over tire labor question. due to re-
ports of a threatened strike in the Lack
awanna companys mines. Reports Of
labor controversies in various parts of
the country were discussed with inter
factor generally. The anthracite roads
in consequence were interrupted in their
advancing tendency Of yesterday. The
rise in ST. Louis Southwestern preferred
was due to the announced success of the
plan for the conversion of the company's
second income bonds. Trade reports from
the iron and steel industry were reSpons-
ible for the advance in the stock of COM
DanieS in that trade. in which the United
States Steel stocks participated only
moderately, owing to the discussion Of
the proposition for a bond issue for re-
tirement Of part of the preferred stock
and for acquiring additional properties.
While special stocks were advancing,
others We're affected by profit-taking
sales. after having enjoyed recent sub
Stdntial advances. The deposit of $3.50 900
Francisco called renewed attention to the
situation of the money market. Not
counting this withdrawal, the subtreas-
ury operations and previous transfers and
gold exports show losses by the banks
since the last statement of upwards of
$6,OO0,CO0, as against surplus last Satur-
day of only S., 95S, 295. Call money went
to per cent again today but the un-
ruffled calmness of the market indicates
some hidden process of relief going on
against the depletion of reserves.
There was no relation in the London
money market today, but the period is
approaching when the government must
begin to disburse recent large collections
of revenue. Today's strong statement Of
the Bank Of France, with a further sub
stantiaI addition to it's already unprec-
edented gold accumulation, suggested
lightened requirements from that quar-
ter. The future international movement
of gold, however. is still in doubt.
Bonds were irregular. Total sales par
value So, $40 600.
United States new As registered declined
Is. and the old As 4 per cent on the last
call.
Stocks.