The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-02-14
CTOCKS, BONDS
~ a AND MONEY.

NEW YORK, Feb. 13.-Today's stock
market was similar in character to that
of Tuesday, but showed an increased
disposition to realize profits where con-
siderable advances had occurred. The
buying and bidding up of other stocks
to make fresh points of strength to
cover the realizing was in evidence, but
rather less effective, and was less per-
sistently maintained. the earlier gains
being largely wiped out in the late re-
action.
The traction stocks were under decided
pressure, and, Notwithstanding the sup
port accorded to them, they exercised a
depressing influence on the rest of the
market. The same was true of A1nalga-
mated Copper, which sagged away under
constant offerings without much evidence
of support, closing at net loss of 212.
There was no news to account for the
weakness. The depression of tine local
proposition of the Brooklyn Rapid Transit
directors to issue bonds to the extent of
$15O, 100000. The argument that this
abundant capital would check the di-
version of current earnings into the bet
terments and extensions and, would thus
hasten the period of dividend disburse-
ments apparently failed to reassure spec
ulative sentiment, and the open buying
of the stock by inside interests was
equally unavailing
The news of the proposed bond issue
also upset calculations of a coming mer-
ger Of all the Greater New York transit
facilities which has been an instrument
in the hands of the Spectators for some
time past. The failure of the announce
ment of the details of the Metropolitan
Street railways new financial plan.
which was expected today, added to the
feeling of doubt and distrust, although
that stock itself was best supported of
the group. There was no apparent cause
for the reaction in prices in the news of
the day outside of this, beyond the nat
ural disposition to sell at profit what
had been bought at lower prices. Re-
ports of renewed rate cutting among the
far Western railroads may have empha-
sized the desire to sell their stocks.
The reports received of gross earnings
for the first week In February also
showed a rather prevalent tendency to
decrea se compared with last year. This
railroads, but there was marked strength
in that group. led by Texas & Pacific,
with a rise of pa on intimation of very
large earnings. There were unusually
large dealings in the Colorado & South
ern stocks, which were supposed to be
due to expectation of increase dividend
disbursements. but the common rose an
extreme 25s over Tuesdays level late in
the day, after the announcement had
been made of the declaration of only the
regular ~ per cent semi-annual dlYi-
dend on the first preferred stock
Money continued easy and did not en-
parently been relieved of pressure for
gold from Paris, and further exports
from here are not in immediate pros
pect. The steel stocks showed some early
response to the very favorable conditions
reported in the trade. but relapsed with
the rest of the market. The market clos
ed slightly irregular, but generally easy.
There was very large business done
was irregular. Total sales, par value.
$5,S10,0O0 United States bonds were all
unchanged on the last call.
Stocks.