The Saint Paul globe., 1905-03-15
SELLING At 1674s
ON INSIDE BUYING
Market Firm Early Part of Ses.
sion, Lower at the Close
on Realizing

NEW YORK, March 14.-Realizing sales
oSerWeished the stock market today and
I,lnra checked the rising tendency, but there
We're persistent revivals of speculative ad-
yances here and there in the list which
Kept up the tone of the market and pava
I'roSs;,Es ~ reS,s,ing 1 power The urgent selling
with the yielding of prices the volume of
offerings decreased to ineffective pronor-
Mons. Credulity was rather severely taxed
IN some of the reports which have in
Splred the rise in special stocks owing to
the entire lack of authoritative confirm
alton In fact inquiries in official quar-
have made up the body of stock market
influences for some time were met with
such terms as "buncombe" and ''hum-
bug"
Profit Taking Absorbed
Bankers upon whom would fall the re-
sponslblity OF carrying into effect the
projects said to be in contemplation quite
iTantically decried the irregularity of
Whlch they were used to incite An ex-
traordinary element in this market is the
Sllght attention paid to such substantial
factors of encouragement as an opposition
or this character might seem to be- The
proht taking of the day was absorbed as
usnal and adyances renewed at many
points. Some distruSt continues to be ex-
pressed over the factors which have
caused them and the high level of prices
Is regarded with apprehension in con-
serVatlve S quarters One striking evidence
or thiS Is the fact that money brokers in
London In connection with the current
stock market settlement there hesitate
10 accept American rails as collateral Sc
curity for large loans owing to their fears
that present prices are unstable For
elgn markets also were inclined to take a
depressing view today of the immediate
utterances on behalf of the Russian gov
ernment In favor of prosecuting the war
The bonds of both belligerent govern
ments We're affected unfavorably by this
prospect.
Tax on Stock Transfers
A. growing influence in stock market
circles Is the prospect for the enactment
at Albany of tax on stock transfers
which 1t is feared would constitute a
serious obstruction of a very large pro-
portion of the operations now conducted
on the New York exchange Much at
tention is given in consequence to the
eonsiderati ton of the subject had its part
in causing the falling off of activity TODAY
In the trading. The $50, 900, 600 bond is
sue authorized by the Pennsylvania rail
road was just half as much as speculative
rumor had pointed to and the movement
or the stock indicated that this modera-
Ilon W was disappointment to the holders
OF the security. The changes were still
running on the varying rumors of mergers
combinations, dividend increases. especiaI.
ly affecting the Vanderbilt group and the
transcontlnental connections supposed to
be destined for the combination The
Toledo, st. Louis & Western was included
In the scope of the rumors
Smelling moved up again on revival of
lead merger reports. There were ex-
traordinary movements in some of the
closely held high priced stocks, I4acka-
wanna rising on trivial buying TO 400
ontario d Western movement was re-
newed strongly in the late dealings with
out further news developments and helped
to break the effect of the active profit
taking In progress which made the CLOSING.
irregular. National banks will paw to-
morrow the 10 per cent installment Of
government deposits held by them. thus
completing the recent call, but the money
preparation.
Bonds were irregular. Total sales. par
value. s4,440.000. United States bonds
We're all unchanged on call