The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-07
GOOD BUYING
IN union PACIFIC
copper Shows a Steady Adj.
vance on Rumors of In.
creased Dividend

NEW YORK, March 6-Wau street
maintained today the more conservative
attitude towards speculation which was
assumed last week as the result of Inc
sharp reaction in prices and the manifest
disposition of holders to unload on the
hlgher flights which prices took before tha
Leactlon- The handing down of a decision
Dy the supreme court on the question of
the injunction against the distribution of
Northern Securities assets stirred the
market; but even that potent subject was
VI MODERATE effect compared with the
1renzled movements which have followed
the suggestions and expectations of de-
clslons In the past. Some part of this
response was due probably to the doubt
ana confusion ever the scope of the deci-
sion due to conflicting reports on the sub
Ject and the Withholding of the opinion
or the news was unexpected and NAV have
found plans for action on it unprepared
Ihere was some natural scepticism also as
10 whether the definitive result had been
reached, clearing away the possibilitiee of
further obstruction to the plan to distri-
pute the assets of the company.
Activity Revives
There was some revival of activity again
IN the stocks Immediately affected when
the definite character of the decision be-
came better understood. But this subject
mas so often and powerfully figured as
a factor in lifting the market that the
question was suggested to the speculative
market whether it's influence was not
already more than accounted for as much
as other general influences, which there is
a growing disposition to consider suffi-
clentIy discounted. The bearing on the
respective interests of the parties to the
contest was largely modified by the pas
sage OF events in the receipt of portions of
both the Great Northern and Northern
Pacific stocks III place of the Northern
Pacific holdings first contributed to the
merger was on the ground that this plan
would represent large discrepancy in the
valuation of assets as compared with its
original holdings. The great enhancement
In market valuations which has since oc-
CURED has gone far to settle this conten-
ton. The action of the market reflected
the feeling that the potentiality of the
subject as market factor was largely
exhausted.
Foreigners Look for Peace
Foreign markets again took the view
that Russians reverses tended to bring
peace nearer and strengthening effect on
securities SCI rIrnt 60. was the result Our own
show of strength, but the weight of Offer
ings to be absorbed on the advanve be-
came effectively manifest at once. Such
points OF strength as developed after
wards were due to special causes The
Gould Southwesterns advanced on the
cheerful views regarding the business out
look expressed by the head of the system
after trip over the territory. There was
a special movement in the local fractions
and the southern railroad group and the
Canadian group made a further show of
strength without special explanation Rail-
road traffic officials reported their only
embarrassment to be finding of sufficient
cars to take care of offered traffic. Money
on call Tell to lower quotation not with
standing the poor bank statement OF
Saturday and foreign exchange declined in
response to relaxing foreign markets. The
languid temper of the speculation reas-
serted itself in the late market and prices
yielded easily, making heavy closing.
The bond market was duller and rather
neavy; total sales par value, $4,000 600.
United States bonds were all unchanged
on call.