The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-09-14
STOCK MARKET WIS DEAD.
SITUATION A PUZZLE TO ROOM
TRADERS AND OUTSIDE SPEC
ULAToRs ALIKE
CoALERs WERE DEPRESSED.
Coming Strike in the Anthracite
Region Is Regarded With
Apprehension In Wall
Street.

NEW YORK, Sept. 1S.-So far as the
stock market can be relied upon as a
mirror of the general condition, the
country remains plunged in profound
doubt and uncertainty. Ghe few move
ments of prices are little more than rip
pies on the surface of d stagnant pool
Members of the stock exchange are quite
nonplussed. Both that class who oper-
ate on their own account, known as
room traders, and the commission house
brokers, are equally puzzled over the i'm
mobility of the market. The few stocks
i'll which any appreciate movement oc~
CURED today were dealt i'll to such an
extent as to detract from the significance
of the changes. The coalers showed some
sharp declines, Lackawanna losing 21s
points, while Reading frSE preferred and
New Jersey Central were down at one
time about point, but partly recovered.
The declaration of a strike in the Penn
sylvania anthracite region probably had
depressing eff6cr on ina general mar
ket, as the contest inaugurated is felt
to be fraught with vast possibilities OF
harm. Some depression was reflected
from foreign exchanges, London showing
uneasiness over the likelihood of a rail-
road strike. The leading incident of the
day III the financial world was the easing
Of the private discount rate in London In
response to the large additional recuper-
aticn shown by the Bank of England.
The sterling exchange rate fell off sharp
ly in New York, Paris and Berlin as
consequence, an advance in the Berlin
London money market was apparently
undisturbed by the stock exchange set
tienicnt, and the rs per cent inStalment
falling due tomorrow on subscriptions to
the British eXcheQuer bond issue. Ihls
leaves half of the subscription yet 10 be
met. The general admission that Ger
man lean to the extent of SIS 900, 900 is to
be placed in New York gives additional
interest to the effect of, the remaining
installmentS to be paid by American sub
scriherS to the British loan. 1t is safe
assumption that liberal proportion OF
the German loan Will shaye TO De met Dy
gold exports, the need,!of gold being the
evident mode of tie German government
in seeking to place the loan in New
York The Berlin bank, which is usually
foremost in governmental financial oper-
atoms has for its CORRESPONDENT in New
York the bank which holds oveT $loOOo,OoO
surplus reserves compared with the to-
tai surplus of $26 600 600 for all of the
sixty three clearing house banks. Fully
s. per cent of this banks reserve IS in
gold With the growing movement of
currency to the interior and the ccSSa-
tion of money supply tonasubtreaSury oD-
erations TIE future demands thus i1-dl-
Gated on the money market may we'll
have something to do with the determln-
cd apathy of stock market speculation.
IT is not improbable that the syndicate
which underwrata HE American allot-
merit of the British loan may make
further gold shipments to meet later IN
sediments on the lean.
The bond market continues devoid or
interest except for n droT of ~ III ST.
louis Southwestern Eds. Total sales, par
valu $1,000.
United States IS registered declined 4
rer cent in the BID price.
STOCK QUOTATIONS.
E,r,iebod Nv, Charles Fl n Smith &.