The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-11-01
No LIE N THE STREET
STOCK EXCHANGE TRADING WAS
IN THE HANDS OF PRO
FEssI6NALS
WAITING FOR q, THE ELECTION
Bear offerings Diss1Ssed am Absence
of buying Orders and the Close
Was Weak ana Gener-
ally Lover.

,r4 REV.
"a Close. Day.
Bar silver, New York p..<.........64A 81
Call money, New Y9rkn......... ga Sh4
NEW YORK, Oct. ss1 1.-The stock mar
ket became still further involved in apa-
thy and Indifference today Business
was strictly in the hands of professional
traders, and they did not push their
The rally which developed late yesterday
in sympathy with the sudden upward
movement in Southern Pacific retained
some force this morning, with the evil
dence Of continued buying in that stock
The opening level of prices was higher
than last night, and there was some fur
Their advance. but when 1t became evil
dent that the buying orders in Southern
Pacific had been filed the market fell
into sort of lethargy. The resulting
tendency to sag developed very gradually
until near the close, when the profess
sional bears took courage and offered
prices down. The experiment proved
that buying orders were very scarce for
considerable range below the market
and some sharp declines were establish
ed before meeting any demand. AS a
result the earlier gains were completely
wiped out and the market closed below
last night all around: The weakness
was most marked in the high priced in
dustrials, the local traction stocks and
the steel stocks. In the railroads the
PacificS were conspicuous on the decline,
Northern Pacific falling almost a point
cific, Union Pacific and Missouri Pacific
the decline from the best was a point.
The conditions affecting the market were
the same as yesterday, namely, a disin-
clination to enter further on speculation
until after the election. The decline In
Tennessee coal was coincident with re-
ports Of the dissatisfaction of the man
agement. The money market continued
quiet and easy, but 1t Is not improbable
that future prospects have a Oppressive
tendency on speculation. Receipts Of
$1,100,O0O gold from Europe today and sub
trea sury payments on account Of Klon-
dixie gold were contributing causes to the
ease of the money market. The official
report of sub-treasQfy9 operations indi-
that institution sinceE Friday $1,150, 900,
but it is to be remembered that the banks
drew over their limit eatFthe sub treasury
on Friday last s9 2 sS3 i5 on n &C &C
ure in last weeks banks3 statement, thus
accounting for the unexpected increase
in the cash reservesRon9 Sat urday. While
this transaction has aheady inquired In
last Saturdays bank statement, it is in
-cIuded in this weeks stat ement of the
sub treasury opera tons and must be
allowed for in estimating next SATURDAY
figures. Discounts both in London and
in Berlin advanced SHARPLY today. This
was due partly to the monthly settle
ments, but In London it is evident that
the Bank of England'S efforts to stiffen
the open market rates for money is meet
ing with success andssterling rates both
here and in London and Paris rose IN
response today. 1t is not believed that
the Bank of England Is yet prepared to
advance the official discount rate tomor-
row, but that its maneuvers will lead to
that result Is probable. which is to be
reckoned within the calculation on fur
Their gold Imports Meantime, the local
money market may. look for further ad-
vantage from the disbursements of inter-
est and dividends after tomorrow n W. Pay a;I,;
of government interest alone VIII
amount to nearly So, 0OO,000 But the con-
tinued large demand Of the sub treasury a1s1I
lions, will be an offsetting influence for
some time to come.
Bonds gave way at>some points in sym
pathy with stocks, after having shown
strength in the earlv dealings. Total
sales, par value, 81, $4,000. United States
bonds were unchanged on the last call
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith &
Co, members of the New York Stock ex-
change, Pioneer Press building. who nave
direct wires to Chicago and Ne" 1oEh'
Closing prices are bid: