The Saint Paul globe., 1902-02-27
CTOCKS, BONDS
- - AND MONEY.

NEW YORK, Feb. 26.-The proceedings
in today's stock market were practically
a repetition of those of the last few days
That is to say the important railroad and
industrial stocks of the largest capitaliza-
ton which usually take the lead in mar
ket movements were allowed to Slumber
While various obscure and rarely active
stocks were taken up, one after another
and pushed upward in more or less SEN
Sat1onal movements. This order of things
was varied in the last hour by sharp
raid on the part Of the professional bears
The OStenSibae reason for their selling and
oHerlng down prices was the announce
ment of gements of gold for export
by toInorrOWs S steamer to the amount Of
$2 10000. The persistent dullness Of the
whole market and its refusal to advance
under the efforts to stimulate by mark
Ing up individual stocks impressed the
professionals with its vulnerable position
ana the announcement of the gold exports
was rather signal than a motive for
the attack. Reports of damage to the
winter wheat crop and the resulting stiff
fenlng IN the winter wheat market were
used to advantage by the bears in their
raid Missouri Pacific was for this rea-
son especially vulnerable and it's report
of a decrease of $79 900 in gross earnings
for the third week in February also add
ed to its weakness 1t was noticeable,
however, that roads which reported in
creases for the same period, and espe-
claaly Atchison, with its January increase
of $220,875 net, were not able to resist
~ affected, however, as Missouri Pacific.
The announcement of gold exports was
hardly surprise. as sterling exchange
has been lowering about the export point
all the week. Foreigners have been heavy
sellers of stocks since the news of the
governments procedure against the
Northern Securities company, and the
supply of commercial exchange bills in
the market is very scanty. The money
market in New York has not shown the
slightest reflection Of any coming strin-
gency, yet the subtreasury operations
have already taken up nearly $1,000, 900
since the last bank statement, and with
New York exchange at Chicago down to
Is cents discount. the interior movement
of currency is probably away from New
York. An early response. in the local
money market is highly probable. The
advances in todayS market were almost
universally without explanation. In the
case of the minor railroads they were
based en- a general assumption that ali
sorptiOn of these by the larger systems is
manifest destiny. The more prominent
stocks there was strength in Pennsyl-
vania, the Erles, Wabash preferred and
Illinois Central. Amalgamated Copper
was active and Irregular. Other stocks
notably affected were the Colorado &
Southern stocks, the Denver & Rio
Grande stocks. the Toledo, ST. Louis &
Western, the Wisconsin Cetnral stocks,
Chicago & Eastern Illinois, the Evansville
& & Terre HaUte stocks; Chicago Great
Grand Island Ann Arbor preferred. Du-
luth South Shore e Atlantic the Mime
apOlis, st. Paul & Sault Ste. Marie stocks
Des Moines & Fort Dodge. Kansas City
Southern preferred. Fort Worth & Den
yer City, the Detroit Southern stocks,
Peoria & Eastern. Kingston & Pembroke
the American Bicycle stocks. North
American and United States reduction
stocks. Some of these suffered acutely
from realizing
There was verv large buying of Wa
bash debenture BIS and the general bond
market was firm. Total sales, par value
&.800, 600. United States bonds were aid un-
changed on the last call.
Stocks.