The daily morning journal and courier., 1901-10-03
Fimanctal
 THE STOCK IT -4KK TE1.
FavornbIy Affected by tho Steel Trust.
 Statement.

Statement
 New York, Oct. 2.-The market start ed out to- day with something of an up- ward rush of prices. Apparently the professional traders were impressed with the idea that the statement of the net earnings of the United States Steel corporation would have a strengthening influence on the whole | list. There was quite an active de- mand for q while for United States Steel itself which lifted the price 1A over yesterday Colorado Fuel and Tennessee Coal showed some strength on the assumption that the favora ble statement of earnings would benefit those companies also. The railroad list was affected by a demand from the spent itself early and the market fell into dullness and heaviness, punctuat- the industrials. The professional spec ulative sentiment in the street failed apparently to be impressed with the rev policy of the United States Steel corporation in publishing it's earnings The large profits reported by that com pany had some reassuring effect nev- ertheless, owing to the wide reaching importance attached to prosperous con- ditions in the iron and steel industry. The destruction left by the Amalgamat- cd Copper episode and the annual re- ports of one or two industrial corpora tions recently showing net earnings in- sufficient to pay the current rate of dividend and a consequent encroach ment on the surplus for that purpose probably accounted for the continued weakness in that class of securities. The American Car stocks, the Pressed Steel Car stocks, Glucose and National Salt were notably affected, losing from 21h to points. National Biscuit, Rub Der Goods, International Pump and International Paper preferred fell from 1 to IA Brooklyn Transit continued weak under pressure of liquidation, which is attributed to a weak annual report expected soons The stock fell an extreme 4ss to below 60, the lowest price the year Manhattan declined 2B partly in sympathy. The reduction in refined sugar explained the recent decline in the stock, which steadied to- ward the close of the day, ending with net gain, The level Of prices gen orally was carried below last night, but net declines did not reach point in important railroad stocks except for Missouri Pacific. t'i,
 The money market continued easy and sterling exchange advanced again. The announcement from the treasury department that the purchase of gov ernment bonds for the sinking fund would cease will cut off the main source of replenishment of the New York money market for some time past against the interior demand for curren- cy. There was a significant drop in quotations on call for government bnds following the announcement.
 The postponement of the meeting of the Atchison directors, which was ex- pected to increase the dividend rate of their common stock caused some dis appointment and depression. Covering of shirts rallied the market slightly and it closed about steady,
 Railroad bonds were dull and irregu- lar. Total sales pan value S1,605000, | United States old As declined A, the 3s | and 5s 1a and the new As l per cent. on { the last call,
 Closing Prices,