The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-02-10
MORE DOINCS IN STOCKS
DEALINGS BROADER AND MORE
VARIOUS THAN FOR WEEKS
After Some Advances Reaction Sets
In, Which Is Helped Along by Re-
ports of New Venezuelan Proposals
Made by Germany.

NEW YORK, Feb. 9.-There was a
revival of activity in todays stock
market which brought the volume of
trading above the level of last Thurs
day. There was greater breadth and
variety also in the dealings than for
weeks. The advances were not made
all at one time, but as successive
points of strength We're developed pre-
vious gains We're well held, in spite
of the natural realizing under cover
Of the new strength.
There was a pause in the upward
movement after the opening squirt,
but after that there was no general
reaction until the final hour. This
might be accounted for by the profit
taking sales of the room traders who
saw larger days profit accrued than
for many days past. The reaction
was somewhat emphasized by reports
that new proposals had been received
from Germany concerning the Vene-
zuelan settlement which threatened to
open up the whole question. The
closing was steady and generally only
fraction below the best.
Outside Business increases.
= Commission houses reported some
increase on outside business and some
OF the largest business of the day
came from houses with extensive wire
NOl1AICNItOn All the E4dSly the
West and the South. The upward
movement originated this morning in
the Gould stocks and in the bitumin-
Gus coal carriers. The Gould shares
have had the advantage of an inf1uen-
tial pool, which has carried on oper-
atoms in the various securities of the
group for some time past. Their spe-
cial activity of Saturday and of to-
day was professed1y based upon the
active IA tn Ioa
Atlantic outlet for the Wabash sys-
tenn. In the case of the bituminous
coal carriers, the motive for the buy
ing was the settlement agreed upon
at Indianapolis between the miners
and the operators fixing a wage scale.
The possibility of discord over this
question had been a shadow upon
those stocks for several days.
Another wage settlement, which
seemed to gather Importance as it was
considered, was that between the Mis-
souri,, Kansas & Texas and its en-
ployes. The settlement is of impor-
tance in itself, and, in addition, it
seems to be understood that it is to
form basis of agreement on prac-
tlcalIy all the railroad systems west of
the Missouri river. The Pacifics,
grangers and Southwesterns conse-
quently were all very strong. These
settlements represent higher wages
and corresponding increases in rail-
road expenses, but the willingness Of
the railroads to accede to the terms is
regarded as assurance of advantag es
to be derived.
Proof of Enormous Traffic.
The unprecedented congestion of
freight traffic upon the railroads of
the country is an impressive Demon
stration of the high level of business
activity and prosperity in the country.
The present b1ockaded conditions. it is
true, are disadvantage and promise
some bad effect upon earnings, but
the existence of the enormous traffic
is demonstrated beyond dispute White
it is evident that heavy additional
outlays must be made by the railroads
for facilities to take care Of their
traffic, their conviction is growing that
the conditions warrant confidence, in
the future prosperity of the railroads.
In spite of Saturdays weak bank
statement, the money market gave. no
cause for suppression of speculative
activity. Call loans fell below 2 per
cent in the late trading on the stock
exchange. There were some promi-
nent laggards in today's upward
movement of prices, notably the Fries
and the United: States Steel stocks.
The hard coalerS did not share fully in
the strength of the market, but the
strength was fairly comprehensive and
embraced long list of representative
stocks and also quite a list of minor
1ndustr1als, on speculative theory
that this class of stocks has a better
chance for future growth of values
than the already high-priced railroad
stocks.
There were heavy spots in the bond
market, but enough points of strength
to make the tone irregular. Total
sales, par value, $5O,05O, 600. United
States rs declined Is per cent on the
last call.
CIASinn I CT