The Washington times., 1901-09-12
JUNIOR VANDERBILTS RISE
Advances and Slight Activity in
the Railway List.
London Heavy Seller on Mis-
understanding Of the Presidents
Condition-A Firmer Tone Shown
Later-Declinc in Republic Steel.

- NEW YORK, Sept. 1.-Today's stock
mar rkct was duh and professional affair,
with irregular price changes appearing as
a result of the days dealings. At the
opening the tone was decidedly weak.
There was apparently in London an utter
misconception of the nature of the minor
operation performed on President Mckin-
ley yesterday, and while no such m!sun-
Outstanding was locally entertained. the
initial prices reflected the material de-
cines in American stocks furnished from
the London market These declines in
several instances extended to over / point
and upon the opening of business foreign
houses sold heavily here, disposing dur
ing the forenoon of over 5000 shares of
various stocks.
Apart from the views regarding the con-
dition of the President, the most impor-
tant intelligence presented for considera-
ton at the opening of business was the
Government crop report. AS had been
generally expected, the Governments per-
centages of the corn crop indicated
further deterioration in the month of Au-
gust, but statisticians still figure from the
percentages a probable harvest of 1885,
O99003 bushels. The yield of wheat calcu-
lated from the Governments percentages
was about COS, 600 bushels. These re-
suits were generally in line with the
opinion of competent authorities in the
grain trade, and it is improbable that the
final out-turn of the crops viii vary much
from these estimates.
OF the many gratifying returns of traf-
fic submitted today for the first week of
the month, one of the best exhibits was
made by the St Paul Company. a circum-
stance which increased the interest taken
in the rate of dividend to be declared up
on that stock tomorrow afterno5E. The
fluctuations in st. Paul were erratic and
seemed to reflect an utter absence of fix
ed opinions on the part of the speculative
holders as to what the rate will be.
The dealings were largest in the railway
list and little animation was maintained
in any other quarter OF the market. Quite
sharp advances were noted in Gin
cinnati, Cleveland. Chicago and st.
Louis, Canada Southern, and the Nick
el Plate issues-the so-called Junior Van
derbilts-but no special gossip of interest
attended the advances shown. Among the
lower priced stocks, the dealings were
most active in the Eries and Southern
Railway common, which were compara-
lively firm.
With the termination of the heavy selling
for foreign account. the market at large
developed somewhat firmer tone, but
there was no measurable increase in ac-
tivity. Little or nothing was done among
the local traction issues. Effective pres
sure was shown at the opening in Anal
gamated Copper, which. il was believed,
had been selected as an object OF attack
for breaking the remainder of the mar
ket.
Particularly extensive declines appear
ed In the Republic Iron and Steel issues
on the exceedingly discouraging annual
statement made public by that company
today. The company's net profits appiica
bic to dividends on the preferred stock
amounted to only $4,000. whereas actual
payments on the preferred during the
year amounted to Sl.42l.0 coo
Money on cali loaned at from to Az
per cent for the greater part OF the new
borrowing. On account Of the easier tone
in the money market, sterling exchange
was firTner and so long as the somewhat
artificial present monetary conditions are
maintained it is not likely we shall hear
much more about importations of gold
from Europe.