The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-02-27

NEW YORK. Feb Gan attempt was
made to carry the rally in prices of stocks
which set in yesterday still further to-
day. Only slight gains were established
and at the higher level the demand had
dwindled to so near the zero point that
the traders abandoned their efforts to
crease in the selling pressure. but this
did not develop to noticeable extent un-
til the sagging from lack of demand had
already set in. The selling, in fact had
the appearance of traders ventures for q
fall after they had demonstrated that
prices would not go up. Yesterdays rally
had brought prices back about to the
level where they left off on Saturday last
which evidently measured about the re-
Operative capacity of the market.
New developments today were not Of
Importance, but the current news indicat-
ed the continuance of some of the I'M
favorable features which have kept the
market under pressure for some time past.
For instance, new steps We're taken In
the war of grain rates. both in the West
and East, and in the Western field the cut
ting of rates showed signs of spreading
from the field of grain traffic to other
classes of freight. 1t was reported that
the anthracite miners delegates were
starting for the convention with deter
mination to support the soft coal miners
in their contention for higher wages and
to vote them assistance for carrying on a
strike. There was renewal of gossip
concerning the Northern Securities de-
cfsion and assertions of its very unfavor-
ports of the presence of secret service Of
ficers in the Wall street district to ferret
out any nefarfous disclosure of the SUI
preme courts decision. These reports, II
they were intended to deter the rumor
mongers. failed of their purpose.
Railroad Earnings Still Sag.
Railroad earnings reported made an I'M
favorable showing both for gross and
net, with the exception Of a, few of the
Southweeterns, Atchison. Wabash and
Hooking Valley represented the prevail
ing downward tendency Of net earnings
in their January returns. The dealings for
foreign account were small, but the I'M
certaintieS of the foreign situation We're
not without influence in the local market.
A periodical settlement is impending in
the stock market, both in Paris and Ber-
lin, and the violent declines which have
occurred since these accounts were open
throws doubt over the possible result OF
the settlement. The promise of a further
increase in the cash reserves OF the banks
as q result of the weeks currency move
ment failed to rally the market, as the
piling up of reserves has reached point
which arouses fears that it represents a
decline in business activity.
The dismissal of an injunction In the
complicated copper litigation caused a
spaSmodic recovery of the previous loss
in Amalgamated Copper, but afforded
small help to railroad stocks The ad-
editional fire losses involved In the Roches-
ter fire, following so soon after the Baltl-
more disaster, was distressing influence.
The active stocks show losses on the day
of about a point, and the closing was
easy. ~g
Bonds were quite steady, but dull and
featureless. Total sales (par value), $3.50,
000 United States bonds were unchanged
on call.
CLOSING Ist