The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-04-02
CTOCKS, BONDS
~ - AND MONEY.

NEW YORK, April 1.-The stagnant
condition Of the London market this
morning upon the resumption of trading
after the four days interval still further
contingent which has been counting upon
an awakened interest in the stock mar
ket. The continued absence from the
street of large capitalists and the COM
ing departure for Europe of the central
figure of the financial district had a fur
Their discouraging effect upon the smaller
traders who have been protesting conf
dence that the powers in the money
world were going to put stocks up"
The consequence was considerable selling
by tired holders, and dropping market.
The saSging tendency gradually per-
meated the whole list. overcoming the
strongly early in the day. The leaders
IN actiitv were Colorado Fuel, United
States Leather, Amalgamated Copper and
Sugar. Colorado Fuel lost all of its gain.
which amounted at one time to "a and
closed with a fractional net loss. Sugar
was under pressure, and United States
Leather stocks did not fully maintain
their advance. Amalgamated Copper.
however, was persistently firm, and
closed at the top with a net gain of
points
Reports of consolidation Of the copper
properties of the principal rivals in inter
est made the bears In the stock tfmid,
and they covered timidly A judicial de-
cision upholding the New York franchise
tax weakened the New York public utili-
ties and caused some sympathetic re-
Spouse elsewhere.
Decreased earnings reported by the
American Car and Foundry company de-
pressed thatstock. The coalers were af
fected by the announcement that the
summer schedule of prices, representing
reduction of 80 cents per ton from the
winter schedule, was in force today, in
stead of being postponed until May l, as
was expected. The fact that the dispute
with the miners is still open was an adj
ditiOnal influence.
The money market was distinctly
easier, both for call and time loans, and
the large disbursements payable today
are expected to further increase the re-
sources of the market. TOday's dividend
and interest disbursements were esd-
mated at upwards of SEQ. 000, 600
The London money market was also
easy today, and sterling exchange at
Paris recovered q fraction so that the
advance in sterling here left margin
still between the market and the old eX-
port point. This influence seemed to be
ignored, however, as the ease of the
money market is not expected to prevail
for any length of time. The British loan
will soon be announced, and foreign
banking houses in New York expect that
there will be American subscriptions
which will increase the demand for re-
mittance in addition to the natural at
traction for gold which will result from
the hardening of the London money mar
ket.
The March statement of federal
finances shows a surplus for the month
of $S,273, 413, which is less than 81, 900 600
under the surplus for March of last year
The ava liable cash balance in the treas
ury, which has been held down in the
neighborhood Of $1700O0,G coo for many
months by the redemptions of govern
ment bonds has now run up to nearly
Sl7S,CO0,CC0, with the prospect of con-
siderable daily addition with the redemp-
ton of government bonds suspended The
security of the New York money market
against future complication is therefore
pressive influence on speculation.
The bond market was less active but
was generally steady Total sales par
value, S. 100000. United States bonds
were all unchanged on the last call.
Stocks.