The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-14
ST. PAUL MOVES Up
COUPLE OF POINTS
Coa.ers and Gould Stocks Well
Taken by Insiders, Clos.
ing Firm

NEW YORK. March 1S.-The whipping
up OF the stock market on SATURDAY.
aroused abundant expectations of q fur
Iner rise today The opening course of
prices was In accordance with this expec-
tdtion. Inc heavy selling to AXE profits
winch met thlS rise was strictly accord
ing to established precedent. 1t was
tne subsequent tendency of the market for
winch experienced operators watched with
keen attention. This latter tendency con-
hrmed the strength which underlies the
In the abSorptive power of the speculation
and unlimited confidence with which buy
ing follows prices to high flights. The
usual weekly reviews of traffic conditions
by railroad officials served as strong cor
roboTation of the confidence which is
felt in business conditions. 4 very free
pecialy of steel and iron products and of
higher grades of merchandise, were
marked features of the movement, and
We're cited as ground for the faith ex-
pressed by railroad offciais of very pros
porous conditions for an indefinite period
in the future.
Improved Weather
Improved weather conditions are help
ing out the. operating department and ia
clhtating the movement of freight. al
though the car supply is still insufficient
to all of the business of
fered. Large railroad earnings are to
be looked for In consequence in the show
ing of expected incoming reports. The
determined ease of the money market is
the. most important fostering influence
on the speculation. The heavy volume of
bank clearings which witnessed the trade
activity in the country, continued pur-
chases of new railroad issues by banking
houses and the active demand for many
for speculation are without any impress
sion on the money market. The country's
domestic exports for February showed a
growth in corn exports sufficient to over
come the falling off In wheat and flour,
leaving the low price of cotton alone re-
sponsible for the decline from last years
export traffic to gulf ports was also a
future Of the report which was calculated
to help on the strength of the southwest
ern railroads. The speculation still re-
hected the force of the SuppoSition adopted
last week, that a policy of more liberal
dividend disbursements on subsidiary rail-
road stocks dominated by the great sys-
TENS is in contemplation. The b%uoyancy
in the Vanderbilt and Pennsylvania groups
was a direct outcome of this conjectural
development.
Foreigners Are Buyers
Buying of stocks for foreign account
was a helpful factor, although early adj
vices were less sanguine of the approach
of peace than was the case last week.
lntlmatlons of a more hopeful tenor on
this subject were not generally known in
the latter reactionary temper of the mar
ket. The confidence engendered by the
strong elements in the general business
and financial situation are undoubtedly
the. sustaining factors in the market and
the ground for the disregard by the spec
ulative element of the constant exhorta-
ton towards caution and towards ~restric-
ton of buying which comes from a large
element of conservative commission houses
in the Wall street district. Warnings of
this character. based on the great rise
which has already occurred in stocks and
the present high level of prices, seem to
have little force in face of the unclouded
prospect for business and industrials.
FREQUENT digestion of profits by the board
room operators is the most notable eff
feet Of the cautionary advice plentiful in
the street; The profit taking. which was
constant today made a considerable in
road on the market, subsequent rally did
not recover all that was yielded, but the
closing was generally strong and active.
Bonds were firm Total sales. par value.
S5.105, OOO. United States bonds were all
unchanged on call.