The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-01-09

NEW YORK. Jan. S.-Today's stock
market was languid and somewhat ir-
regular during the early part of the
session, but it was reused into great
animation and general strength by the
reports of the deal for divided con-
troll Of Reading by the Pennsylvania
and the Vanderbilt interests. The
coalers 0led the movement, but the
Readings themselves were but moder-
atelv affected beyond a full recovery
from some earlier depression. Penn
sylYania also failed to share in the
strength awakened by the reports. The
Fries took the lead and scored adj
Vances of between 21A and 312 on
enormous dealings.
Col, else Cttoils were lacking of the
deal. but it was taken for granted that
important steps had been taken toward
further centraiiZing the control of the
anthracite traffic. Reports have long
been current if large buying of the
Readings for Baltimore e Ohio ac-
count, and the dominance Of the Nor
gan influence in Reading made it evil
dent that the usual observance of COM
ity between the Pennsylvania and
New York Central powers would be
followed. The fact of the resumption
OF deals and large financial projects
IN the railroad world was itself an in
element to speculation.
AS to the Money Market.
The declining course of the money
market protected the speculation
from anxiety on account Of the money
situation. An announcement late in
the day that the bankers pool, which
subscribed $500000 900 in the middle
of December for the protection of the
money market against emergency, had
been dissolved added to the feeling of
security and led to the final outbreak
OF huoyancy in which the market
closed. New York Central and Balti-
more & Ohio shared to some extent
IN the strength due to the Reading re-
port.
Of other special movements that in
the corn grangers was attributed to
the growth of the corn movement, al
Ihough there was some evidence of or
gained market support in Missouri
Pacific and Rock Island. The specu-
iation was continued in Sugar, which
IS usual upon the approach of a rdfvi-
dend period for that stock, but there
was prof1t-taking in the stock in the
latter part of the day. There was
also evidence of prof1t-taking from
time to time in some of the Pacifics
and st. Paul The United States
Steelers showed a tendency to rally
from yesterdays declines.
irreguIarity in Copper.
Amalgamated Copper was very ir-
regular, but was inclined to react I'M
DER the influence of the weakness of
copper both here and in London. The
New York public utilities continued to
reflect the favorable effect of Gov.
OdelIs recommendation for the repeal
OF the franchise tax. The reported
blizzard in the Northwest was taken
account of by traders who sought to
renew the market reaction of yester-
day. The recovery in the London
money market and the firmer tone of
sterling exchange attracted some at
tentlon. The reduction in money sup
plies in London is sufficiently account
ed Tor by the weeks reduction of over
$4,000, 600 in the loans of the Bank of
ENGLAND. With this largely augmented
control OF the outside market, it is a
matter Of interest whether the CEN
tral institution will attempt to attract
gold fem abroad or VIII operate di-
rectly to ease the outside market in
preparation for coming government
loan operations
Bonds were quite active and We're
rather irregular. Total sales, par
value, $3,5SO,O0O. United States bonds
unchanged on the last call.
Stocks.