The age-herald., 1901-09-06
STOCK MARKET IS
 ALMOST L|FELESS Operations Have Very Little lm- pressIOn Upon the Market TRADING SMOOTH COURSE Predictions Are That Interruption to Prosperous Conduct of the Steel
 Industry VIII Not He Much
 Continued.
TRADING SMOOTH COURSE

New York, September 5-The operations of professional traders to which business Rn the Stock Exchange Is now almost wholly confined do not make more than . superficial impression upon the market. The object of traders is achieved if prices are moved, whether in one direction or another When the professionals perceive Shat in selling stocks they are getting into sparse company they turn with the almost cheerfulness to the buying side IS they did yesterday and for a time this morning and when the buying demand shows diminishing power and there seems danger of being loaded up with long stocks they begin to sell with equal alac- city as they did this afternoon.
 As a background to the market lie the strong general conditions of business, the prospect that the interruption to the pros porous conduct of the steel industry will not be much longer continued, and the determination with which controlling in terests In the great prosperity cling to their holdings.
 It Is the obvious policy of larger capi- tai at this time to discourage active speculation pending the clearing of the autumn money requirements and at the same time afford effective support for price securities when threatened. There was deposited $70O,0O0 at the subtreasuTy for transfer to Chicago and s2o,0OO for New Orleans Yesterdays subtreasury operations yielded small balance to the banks on account of payments of gold Dao ct DoinfS and there was further payments for the same ac- count today, but 1t is obvious that the current government surplus will renoer nuRatory these relieving influences Ine subtreasury had in fact taken Sz'zoo'Vvo from the market up to last night, al though the movement of currency to the interior was suspended up to that time:
 The offerings of United States pohos loi redemption under the terms of the sec retary of the Treasury have slightly in- creased in the last few days, put they are insignificant as an offset to the orahi on account of the government revenues Wall street is discussing relief Dy some new action of the Treasury Departhent as invariably the case in periods or money difficulty but there was no annouhceIiieh W he to give color to the expectation Money worked firmer in all departments today, and sterling exchange fell an aooltloiial fraction and reports were In clrcuiatloh of A $500 OO0 engagement for import. DIS counts hardened in London. put the re- lease of funds following todays payment of an installment on large loans had 2 better effect Today's early show oi strength was confined to the Coalers, yanderbilts Grangers and Pacifcs among the railroads, and Sugar and few minor specialties among the industrlals. brooA- Iyn Transit was weak throughout on the poor showing of July net earnings The market closed weak at declines running up to 2 points.
 Railroad bonds were irregular. Total sales. par value, $I. .455 900. United States bonds were unchanged on the last call.
 New York Stock Market.
 Bv Private Wire to Murphy Go.