The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-09-10
STOCK MARKET DULL
TIED, BUT PRieEs MADE A
DECIDED RECOVERY
WATCH WIRE FROM BUFFALO
Probable Recovery OF President Nc
Kinley From HIS Wound Causes
Buoyancy in Financial Gen.
ters of the WorId.
Closing.

Closing.
Monday. Saturday.
e ean a m01sy, Nee New E8 4drE. .' e 81
NEW YORK, Sept. 9.-The number of
shares of stock sold ON the stock ex-
change during the five hours of today's
session was no greater than was sold
during w two hours of Saturdays ses-
sion. This fact in itself would be indica-
tive OF marked subsistence of the ner-
VousnesS and feYerishness which peryad-
ed the stock market on Saturday but
the table of recoveries in prices which re-
suited from the day S trading makes q.
really remarkable showing of the recu-
perative power of the market. The con-
fident opinion of the presidents physi-
clans and friends. that he is on the way
to safe recovery from his wounds was of
course, the primary cause of the buoy
ant rebound in prices The effect was
shown not only in New York, but in all
the great securities markets of the world
The secondary cause was the comprehen-
slve and effective measures concerted for
the protection and support of the mar
ket by the clearing house banks and
great inanciers of the metropolis The
effect of these measures was seen In the
success with which the call money rates
We're repressed to a per cent level. Just
what the measures taken We're was not
disclosed, but the large sums of money
in the hands of the principal money brok-
er on the floor of the stock exchange to
ed that money was being supplied by a
powerful syndicate for the purpose The
clearing house committee was convenient
ly at hand all day to take any action
that might be demanded by an emer-
gency, but there was no formal session
of the committee, and no steps were TAX
en- by them until after the close of the
stock market, when a dispatch was sent
to secretary Gage, advising him of the
committees view that some action by
the treasury department was incumbent
fer the relief of the money situation
The special circumstances which make
the quotations of the treasury depart
ment embarrassing stgoi dhe money market
nave been too often stated to need spe-
cial description heneI I3'he enlarged sur
Plus In the goVernment5reyenueS by rea-
son of the great decrease in the expendi
lures without corresponding decrease IN
the income is takingS daily from the open
market and from the circulation large
sums of money, just at the time when
the movement of tAeI drops of the ex-
panding fall requirenehts are making
the years largest Demands for money
Some expectation OF aation by the sec
rotary of the treastfFS for the relief of
money market playedliss part in the day.
strength of the market before the ac-
ton of the co1nmitts&se Twas known. The
tension of the demand for money here
was shown, also, by the decline in eX
change cha on other Ag,nt Both sot1 sterling
causing renewed talk Of engagements of
gold for import, but fnbne was ANNOUNCE
ed. Chicago exchange in New York also
rose to within 10c of par, but $250,0O0 was
deposited at the subtreasury for Chicago
and $4,000 for New Orleans. In view of
these considerations the collapse in the
money rateelate in the day is less con-
vfncing than 1t would otherwise be. It's
occurrence after the demand for the day
had been largely satisfied may have been
due to- speculation The market closed
strong at near the top, net gains for the
principal active stocks running from 2 to
4 points, and for ST. Paul 6A. Thus a
large part of Saturdays losses was re-
trieved. ~ Fs5r
Railroad bonds showed; recoveries also,
but in much smaller degree than in
stocks. Total sales, par value, 81. 065, 0o0
United States bonds Were unchanged