The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-09-07
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPOR 7
Digest OF Exchange News-Mining Stocks
Metal Quotations-Wool Prices and
Movements-Grain and Pro-
duce-Review OF Trade.

New York, Sept. 6.-St. Paul was the
central figure in the market to-day. The
publication of the annual report, with it's
great detail of facts and figures, all show
ing extraordinary prosperity, was the mo-
tive of the buying, which was very large
and which carried the price steadily up
wards nearly two points. So wide a move
ment in a standard stock of st. Pauls
character was looked to to arouse some
sympathetic strength in the general mar
ket The st. Paul movement in the up
per stages of the advance showed some
signs of manipulation for the purpose of
sustaining the general market. There
was quite free selling wherever there was
notable advance in prices and the last
hour was given over to an active really
ing movement, which clipped off half OF
st. Paul and carried prices generally be-
low last nights level. The dump in call
money to 6 per cent induced the reallz-
ing. The exceptions were a number OF
usually obscure stocks which were mark
ed up in quite a sensational manner.
Tennessee Coal dashed up and down in
an erratic manner all day, climbing 9la
points in the first hour, and dropping
again to within points of last night.
The feverish demand for this stock is at
tributed to a large short interest, which
finds itself obliged to settle with prac-
teal corner in the stock, according to
curren rumors. This is Wall streets eff
fort to explain the movement which
seems extraordinary without it in a stock
which has paid no dividend for II years
and which has a preferred stock ahead of
it on which six years dividends have ac-
cumulated and are payable before a divi-
dend is due on the common. The move
ment in Colorado Fuel, which reached
about points, was in close sympathy
with Tennessee Coal, as was that of 3
points in Hooking Coal. There were
rather sensational advances also in Pull
man, the Buffalo, Rochester and Pitts
burg stocks, which gained about points
each, and Colorado Midland preferred,
Southern Pacific and Central Pacific re-
covered about 112 of their recent declines
and the Southwestern stocks and coalers
advanced temporarily but more than lost
the gain. Sugar underwent the same ex-
perience, rising points on the declaration
of the regular dividend and then react
ing an extreme 39s. The New York mu-
nicpal stocks all weakened during the
day, Brooklyn Transit having declined
2& after an initial rise, and Consolidated
Gas showing a loss of 3A.
New York Air Brake dropped points
Republic Steel after gaining 13s, dropped
abruptly 3h, and American Smelling was
eonspicuously weak.
The marked activity of the trading was
very unevenly distributed, but brought
forward quite a number of unusually act
i've stocks. There was no change in the
money market to-day. Call and time
money rates were quite stiff1y held. There
was a further deposit of $4,000 at the
sub-treasury for shipment to New Or
leans. Exchange at interior points indi-
cate pressure this center for funds,
and the sub-treasury continues to absorb
cash from the banks. Notwithstanding
the hardness of money here and the
somewhat easier tone in London, sterling
exchange was firm in New York and ad-
vanced a fractional quarter on actual
business. The bond market was quiet.
Total sales, par value, $2,36 600
U. S. bonds were unchanged on bid
fiuotatiops