The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-02-03
STOCK MARKET IMPROVES
BUT PUBLIC STAYS OUT.
CHIEF ACTIVITY IS CON
FINED TO COALERS.
Amalgamated Copper Rises Two
Points-Venezuelan Situation
Considered Favorable.

New York, Feb. 2-The stock market
showed some improvement to-day over the
apathetic conditions Of last week. and the
volume of dealings rose by more than hal1
a million shares. Complaints from commits
sion-houses Of a lack of business were un-
abated. however, and the market was called
professional. A very large part of the &C
tivity. both in stocks and bonds. conferred IN
the Pennsylvania securities. AS the par
value of the Pennsylvania shares Is only
So. the total shares dealt in should be d.
vided in half TO make the showlns equiv
same is true of the Reading shares, which
contributed an important part of the days
dealings. Pennsylvania 2 ron rei tn isS
compared with 1874 on Saturday. ana
lowered about that price all day. with large
dealings. The convertible bonds rose rs at
the opening. This seemed to represent an
adjustment to the convertible value between
the two In accordance with the notice given
by the directors Of the anticipation OF the
conversion privilege by a year. Increased
activity in the general market seemed TO
have no connection with the Pennsylvania
ERIE STRONGER
The revival of strength in the Erie stocks
had a considerable sentimental influence on
the general speculation. There was no
news developed regarding the expected deal
for the transfer of the road. but there was
some suspicion that the large financial
TRANSACTIONS TeneCteu III IH6 ClcdIluS -iouoo
balances on Friday might have to do with
Erie. .
was directly associated with that of Erie.
There was a current belief that all, of the
coalers are making enormous earnings at
this time. which helped Reading and on
tario and Western particularly. st. Louis
and San Francisco continued its advance
to the high figure. but no nat was
given out regarding the expected dlsposl.
ton Of this property. Quite a number OF
leading speculative stocks rose a point or
more at one time.
FUNDS ABUNDANT.
The abundant funds offered O. Friday
and the easy tone of call money this morn
ing formed the basis of the attempt to put
up prices. To-day's movement was hardly
more than tentative. but 1t was more con-
fident than any of the numerous pro1es-
sional tests for some time past. Among the
days special movements. Amalgamated
Copper was conspicuous for a rise OF over
2 points. Prevalent opinion points to i'm
proved trade conditions. and there was tax
to-day Of large takingS OF copper by for
eigners. There was nothing to explain the
rise in Peoples Gas, except the declaration
Of a regular dividend. The Venezuelan SIT
uation Is considered reaSsuring. There was
a good demand for foreign exchange. and
1t was reported that mony has grown so
pay Off maturing foreign Indebtedness. The
days gains were not fully maintained. and
the closing was rather irregular.
Pennsylvania convertible 312S made up the
bulk of business in the bond market. ana
lost a large part of their opening gain.
at the last. Total sales. par value. S. I0o,o0.
United States new Tours registered ad-
vanced X and the fves regular declined X
per cent on the last call.