The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-10-08

NEW YORK. Oct. 7.-Liquidation of the
manifest for some time proceeded today
Some ragged breaks in the price level of
the market resulted, but heavy and con-
centrated buying was in evidence all day
AS consequence the decline was check
ed and the latter part OF the day was
given over to a broad and comprehensive
covering movement which lifted the
prices throughout the list, the losses in
the railroad list being quite generally re-
covered and largely reduced even in the
weakest OF the industlials. When the
market opened feeling of discourage
ment was general, especially because last
week liquidation had proven Intellectual
to recuperate the conditions of the banks
by reason of the extension of new cred
IT'S. The completion of the season of the
interior movement OF currency was still
to be met therefore the only source
from which TO supply this requirement
was still further liquidation in the stock
market. Foreign exchange continued to
advance, precluding the hope of relief
from that quarter. The large selling of
stocks for London account sustained the
exchange market. . Renewed d6lnoraliza-
forced liquidation in Paris We're the toc-a
cas1on of this foreign selling, and the
prompt decline in -Amalganated Copper
here gave promise of a continuance of
that disturbing Influence. Pressure from
the lenders of money was undoubtedly at
the root of the stock market depression,
puL Nulu6FaDl6 points. III Jne industrial
list bore the brunt of this pressure rath-
er than the railroad list in general, and
the rates for call loans were not diSturb-
ed. There was a growing spirit Of Skept-
lciSm as co the pfospect~of dividends on
industrial common StockS} the issuing Or
CARNATIONS CT which depended for Success
on continued or even increased prosper
1ty. This sentiment toward recent finan-
c1al projects was extended to the rail-
road Wei Id by reason of the annual show
ing of the Chicago, Burhngtonc & Quincy,
which was published on Saturday, and
which showed balanccsof earnings after
charges insufficient to pay the interest of
newly issued bonds for which the stock
is collateral. ST. Paul., which sold ex-
dividend of 8 per cenE,i s.was1 subject to
Missouri Pacific lost as much, and some
of the cotton and corn carrying railroads
were cutie weak. The Selling of Brook
ly Transit which carried it down 49, was
apparently based on tie. con6ition of
poor earnings and the Undulyeeh high price.
Sugar was weak at the extreme decline
against the sugar beet. Atch{son lie led the the
recovery on very confident runners that
the semi-annual dividend rate is to be
increased to per cent. There were pur-
chases by a single commission house of
several thousand shares each on various
stocks around the room. The rally ran
between 2 and 3 points in many of the
principal active stocks and the demand
for Amalgamated Copper showed some
urgency. The days net gain is a point.
The covering demand made a firm clos
ing. renewed advance in some of the
Junior Vanderbilts was feature of the
day.
Railroad bonds were weak early, but
rallied in sympathy with stocks. Total
sales, par value, $2,370, 0eU. United States
new As declined "a per cent on the Ast
call. 80 ,-1 ~