The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-02-18

NEW YORK, Feb. 1.-THE move
ment of prices of stocks today was con-
fused and irregular and accurately re-
fected in that way the state of mind
OF those who were trading. This ele-
ment was pretty closely restricted to-
the room traders. The interruption to
the wire service by the storm was Civ
en- as one cause for the dearth of out
side orders, but business from COM
mission houses was at a low level from
any source. The general approval ac-,
corded to the petition of the governors
OF the Stock Exchange to make Satur-
day holiday in addition to the regu-
lar Monday holiday is a sufficient indi-
cation of the small proportions of COM
mission house business at this time, as
members of that class of business
houses are generally the first to ops
pose an extra holiday on account of the
loss of business entailed.
The industrial stocks had a rather
more prominent place in the trading
today, as they did yesterday, but,
their price movement was very spotty.
The spectators who inaugurated the
movement in those stocks yesterday
were inclined to take profits. This
was conspicuously evident in the Unit
ed States Steel stocks and in Sugar.
Congress and the Trusts.
The operators seemed to be prompt
ed by the new antitrust measure in
congress. This indicated that yester-
days concerted movement to put up
the industrial stocks was probably
based upon the assumption that the
programme for antitrust legislation by
the present session of congress had
been completed.
The bull campaign in Analgamated
Copper was continued this morning,
and that stock was lifted an additional
IN, but the later reaction of the mar
ket left only small fraction of this
gain. The rise of 2ss in Tennessee
Coal was based on the increased earn
lngS disclosed by the annual report and
the expenditure of these earnings on
the property without any intimation Of
early dividend disbursements, did not
seem to detract from the favorable in
f1uence. The 7-point rise in Anaconda,
with reaction of IL, was in sympa-
thy with Amalgamated. There was a
notable demand for American Loco
motive late in the day, but it's rise was
not fully maintained. Metropolitan
Street Railway led a further advance
in the local fractions, which was not
held.
Will Gold Be Exported?
The rather active selling movement
which was developed midway of the
session was prompted by the we'll de-
nned rumOrS that exports of gold were
being negotiated for Thursdays steam
er. No official acknowledgement of the
truth of these rumors could be secured,
but the refusal to dtsc1aim them by one
or two prominent International bank
ing houses gave color to the report.
Sterling exchange advanced several
points here, but reacted a fraction of a
centime in Paris. The rates of time
money here operate as an obstacle to
outgo of gold. London was a light
buyer of stocks here today, and the
fact that part of the Erie convertible,
bond issue is to go abroad promises a
supply of exchange. On the other
hand, the buying of grain for export.
today was rather light, thus restricting
the supply of exchange. The question
of engagements. of gold tomorrow for
export on Thursday is still open. Dam
age to property by the great storm was
of some influence in prompting the
light selling. The market closed heavy
at about the lowest.
There was heavy selling of st. Louis
& San Francisco refunding bonds. The
market generally was irregular. Total
sales, par value, $2,290,000. United
States old As declined Il per cent on
the last call.
Closing List.