The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-01-27
81 FOR COMMON,
1856 FOR PREFERRED
London a Heavy Buyer, Taking
Back Stocks Sold Early in
the Week

NEW YORK, Jan. 26-The effects Of
the great storm on stocks were preceptible
To-Day only in the restricted volume of
dealings the attendance at the stock ex-
enange being good deal curtailed. But
WINE dealings were on small scale the
tone was clearly strong The widespread
obstruction of traffic and the interruption
10 earning power by the storm were evil
IDENTITY considered to have had their due
erect in yesterdays decline. That de-
cline, following two previous DAYS. was
regarded as having reached ADEQUATE linn
ITS and to have approached the point of
FISK OF over selling the market The
professional element therefore reversed its
attitude and bought stocks today.
Professional Market
The bright weather following the storm
is not to be ignored as an influence on
the speculative sentiment in market so
strictly professional and where so large a
proportion of the dealings originate in the
board room itself, any more than the Sc
we're weather OF yesterday was to be lost
sight OF as contributory influence to
the gloomy tone which prompted the sell
ing OF stocks. The tone of foreign mar
kets gave cheerful impulse to the OPEN
Tag course of the market. The proclama-
llon issued at st. Petersburg was accepted
as an indication that the Russian govern
ment still has the situation well in hand
and that the agitation of the public mind
there was subduing. Rumors also con-
tlnued TO circulate of a likelihood of over
lures toward mediation to end the Russo
japanese war. Prices of Americans were
up in London before the opening here
and buying for foreign account followed
Wnen our market opened.
Copper Strong
Stocks which were most acuteIy de-
pressed yesterday were most affected on
ma or mo tod Con
per, from which the dividends came off,
was in demand with considerable effect
on sentiment, The recently conspicuous
firmness of the Erie securities was still
noticeable and strengthened the current
superstition that this property is to figure
In some important coming railroad deal.
me cotton carriers Were strong. appar
emily On account of the corroborativ evil
def1ce contained in the census bureaus
cotton ginning report that the crop would
be bumper one. The conspicuous move
mentS OF the day were in specialitieS not
all of which were explained. The strength
of the Chicago Terminal issues was CON
nected with the reorganization plan.
Southern Pacific was firm on the expected
benefit OF the refunding plan. Atchison
was inclined to lag, apparently from dis
satisfaction of it's bond issue The clear
ing out of weak speculative accounts by
yesterdays sharp reaction nomally bene-
fitted the technical situation of the mar
ket. Rates for time money further
hardened to some extent, which is the
only erect perceptible from the continued
large demand for our gold
Needed for Cuba
Remittances to Cuba on account of the
Cuban loan subscriptions, the last install
ment of which remains to be paid, will
soon be added to these requirements
discounts We're easier in London today
and the price of gold there was reduced,
while sterling at Paris rose a fraction
Rates for exchange here were held steady.
with the gathering force of the upward
late in the day, most of the laggards be-
ing brought forward to share in the
movement and the closing was very
Bonds were strong. Total sales. par
value, $7,990,000. United States IS ad-
vanced *, the Is p and the new As 4