The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-02
PRICES RECOVER
YESTERDAYS DECLINE
Louisville & Nashville and New
York Central Move Up
Sharply

NEW YORK, March 1.-The stock mar
het was relieved today from urgent pres
sure 70 realize such as characterized it
yesterday and showed evidence of re-
SlVed strength. Attempts TO lift prices
however were constantly frustrated by an
outpourlng of selling orders at the high
IeNeis, winch turned the course of prices
downwards a number Of times during the
day after considerable advances had been
erected. There was a decided falling off
also in the buying demand at the HIGHER
level indicating that confidence was not
fully re-established in the stability of the
market. There was a party in the specu-
latlon holding pronounced view in favor
OF further reaction in prices as being
JUSTIFIED by the extent of the previous adj.
vance and also by the lack of confirma-
tlon or the many rumors upon which it
mad been accomplished
Bears Not Aggressive
But the bear party showed no signs
OF the aggressive disposition manifested in
the nefce raids upon prices in Yesterdays
tradlng. On account of this modera ton i'm
the tactics of the bears and the hesitation
vi thS opposition IN following the advance
with buying orders, the trading was much
quleter than for several days past and there
was decided shrinkage in the volume of
the days dealings The demand from the
shortS 10 cover was a considerable factor
IN rallylng prices when the resisting DOW
er OF the market was developed New York
0entraI was copspicuously affected by
this factor.
The recovery was stimulated by several
new points of strength The most con-
splcuous or these was the Southern group
OF rahroad stocks which rose quite easily
without any news announcement in ex-
plantation. The movement in them was
commonly attributed to one of the strong
speculative parties which has been promi-
occasions.
There was more substantial basis for the
buying of the Fries found in the excellent
showing OF net earnings contained in the
January on bran oft
reporting for January bore out the evil
dence offered by the Erie and the Reading
reports OF the strong condition in the
anthracite trade.
Copper and Sugar Strong
Amalgamated Copper was a figure of
strength in spite of the reduced exports
of copper for February. Other reports
bearing on the movement were vague So
were the assertions of improved trade
conditions upon which Sugar was adj
vanced. The movement in the New York
public utilities was supposed to be due
TO the views of operators on the outlook
for legislation affecting these corporations
reports OF large orders for steel rails to
the United States Steel corporation were
of moderate effect on these stocks Money
was easier and the rate for call loans was
lower The speculative liquidation was
assigned as the cause of the easier tone
or money in part, and the passing of the
temporary effect of the Southern Pacific
BOND transaction was also a factor For
eign exchange hardened to some extent i'm
response to the money conditions. AS the
day progressed without the dreaded re-
newal OF pressure of speculative liquida
tion sentiment showed growth of conf
dence and the whole tone of the market
gained in strength. Belated shorts added
to the volume of the buying and the clos
ing was strong at the best of the day and
substantial gain over last night
Bonds We're steady Total sales par
value $3.425.000. United States IS coupon
advanced Is, the SIS a and the new IS e
per cent on call