The age-herald., 1902-02-25
STOCK MARKET
 ON THE TOBOGGAN Declines Established in London
 Had to be Faced RAILROADS WERE ACTIVE Amalgamated Copper Was Affected By the Sale of a Mine-Norther Se-
 curites Still Keep Holders
 Confident of Success.
RAILROADS WERE ACTIVE

New York, February 24-The stock market sank back into the professional traders hands today and there was no important. movement except in few stocks of smaller railroads not allied to any of the great systems and in some minor industrials. The declines estab- lished for American stocks in London since the close here on Friday afternoon had to be faced at the opening This caused a lower level at first than on last Friday, but prices were at no time down to the London parity and they soon began to recover in spite of the selling on arbitrage of London account at the advance.
 The confidence that the Supreme Court would refuse jurisdiction In Minnesota's suit against the Northern Securities Com pany, which has been firmly held in Wall stree. for three weeks, was unimpafred this morning and the traders did some of their buying on that basis The an- nouncement of the decision by the court failed to attract any outside demand and the efforts of the traders to take their profits caused a reaction in the market
 
 administration to push the case against tho Northern Securities Company de- prived the other suit of much of its inn portance but the fact remains that one possible course of procedure against the company is closed by this decision and a step thus achieved towards the estab- lishment of the company's status. It is generally thought all possible courses of procedure have to be met in the same way. The professionals who were on the bull side today exchanged assurances that the administrations suit against the company might be regarded as In the nature of a friendly process to establish the true standing of that company under the law and the visit to Washington of some of the principal financiers interested was regarded as a favoring factor for the outcome of the case.
 This sort of argument was not as con vincing but that the professional traders kept keenly alert at each others move ments, and when important selling to realize developed all turned to the sell ing side. The largest dealings were in stocks, which moved under individual in- huences. In sugar the influence was dis appointment over the measure agreed upon by the ways and means committee for the duty on Cuban sugar. Amalga- mated Copper was affected by the sale of a mine and a renewal of threatened litigation. Colorado Southern was heav- lily bought. with an advance of over point on reports of a transfer of control. An upward movement of a number of low priced minor railroad stocks had no other apparent cause than sympathy with this movement in Colorado South ern. Tennessee Coal was feature and an extreme advance of 3A on rumors of B resumption of dividends took place. Dealings in Southern Pacific continued large, but the movement in the stock was Bmall.
 Foreign exchange continued to advance today, influenced by Londons selling of securities here and the small supply of commercial exchange blls but the local money market continued easy. Chicago, Indianapolis and Louisville advanced 3% but relapsed nearly 5.
 The bond market showed some degree of frmness, but business was not large except in Wabash debenture Bs. Total Eales, par value. 8. 490,000.
 United States 3s coupon declined h and the 3s registered advanced A per gent on the last call.
 New York Stock Market.
 By Private Wire to Murphy & CnL