The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-10-30
DAY IN WALL STREET
LARGE PORTION OF LOSSES REGIS
TERED MONDAY WERE RE-
COVERED YESTERDAY
ms
STRENGTH IN sVANDERBILTs
Amalgamated4t rebiier and United
STRENGTH IN sVANDERB1LTs
Amalgamated4t rbni3er and United
States Steel Both Make Gains
on Buyihg From Insiae
Sources

1o-4
NEW YORK, Oct. rs. The protested
anxieties felt by the Professional onera-
tors in stocks yesterday seemed to be
feSSional brethren off bulIish Tendency
added incentive of lively piuuing up here
and there. As a consequence a consider
able demand to cover short contracts
made the market strong during the early
part of the day 1t was argued that with
the easier tone of exchange, and the
moderate views expressed as to gold re-
quirements by the authorities of the
outgo of gold on Thursday of this week
was considerably lessened The an
nouncement just before the close of the
market of an engagement of S600,000 In
gold for shipment on Thursday precipt-
tated a sharp realizing movement and
wiped out a good part of the earlier adj
yances. Another 100000 Engagement
was announced after the close. 1t was
very notable that the stocks which were
weakest yesterday We're foremost as a
rule, in the recovery today The recovery
did not reach to the full extent of YES
terday's losses at any time. The reaction
smaller volume of business There was
an expectation this morning among the
small SPECTATORS, at least, that the
formal announcement might be made to-
day of an adjustment of the Northern
Pacific difficulty. This expectation was
again disappointed. Competent observers
of the situation believed that this may be
a daily incident for some time to come,
as consultations on this subject are con-
Stantly held, but with much remaining to
be agreed upon. Among the days spe-
cial movements the sensational rise in
Michigan Central revived the rumors of
coming developments in the Vanderbilt
group, and was reflected in sharp adj
VanceS in other members of the group
Michigan Central sold YESTERDAY at 1l6
an advance of several points over the
col in Ioct "a
sold in 100 share lots successfully at 11S,
12O, 125, 135 and 14e, after which it relapsed
to 49, No explanation was forthcoming
OF the movements e Anal gamated Copper
was influenced by the Supposition that
developments are pending which will ben
eft the conditions in J}the trade. There
was some support also for the United
states Steel stocks, accompanied by re-
ports of great activity in that industry
Brokers credited.With acting for insiders
both in United States Steel and Amalga-
mated Copper bought their respective
stocks together today. These interests
views of the speculative outlook for some
time. The buying of Amalgamated Cop
per for Boston account was very large,
as it was of other stocks. This was sup
posed to be rebuying of stocks sold yes
terday from that source. In consonanee
with the upward movement of prices, the
prevalent view of the money outlook was
less pessimistic, although conditions in
that market remain the same. A number
of favorable conditions which were
ignored yesterday in the selling move
ment came in for consideration espe-
cially the continued trade activity as re-
f1ected in the large bank clearings
throughout the country and the sustained
increase in railroad earnings. Reports
today of September net earnings showed
increase over September of last year for
some of the important systems as fol-
lows: Atchison, $42S, $3.50; the Reading sys-
TEN, $50, 1853; the Northern Pacific, $685.
227; Erie, 1929 and Chesapeake & Ohio.
stock to recover all of yesterdays de-
cline. The closing was dull and heavy
at the reaction.
Railroad bonds moved narrowly and
S75,oo0.- United states new As declined n
per cent on the last calf
Stocks.