The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-09-19
STOCKS ARE STRONG
DEPRESSION IN. CORN MARKET
GAVE BUOYANT TONE TO THE
RAILROAD LIST
SOUTHERN aAr14Ar ACTIVE
With Substantial Advances i'm tho
Changers and &Ae Morgan and
Vanderbilt Syatems Gem
eraafyl

Bar silver. New YORK.. ...... ssh 5SX
Call money, New fork........ 311a-5 21a-5
NEW YORK, Sept. 1S.-People who ar
gued that the suddep weakness that de-
Vefoped in the stock market yesterday
afternoon after the early show Of
strength was due to the frost scare in
the corn belt found confirmation for their
Views in the recovery in the stock mar
ket today simultaneously with the reac-
ton in corn. The loss of all yesterdays
rise in the price of corn showed an eager
hess to realize on long lines that took the
edge off the apprehension regarding the
reported further damagesto the crop. The
effect Of this development was naturally
most pronounced in the stocks of the
Gfeaf Western railroads, whose traffic
is largely corn, namely the grangers and
Pacifics, including Atchison and Missouri
Pacific. But there was no reason why
the developments IN the corn market
should have sympathetic effect on rail-
reads in Southern territory those car
rS1ng anthracite and bituminous coal and
the network of centraEs traffic and minor
designated as Junior Vanderbilts Prices
OF all of these stocks Were notably buoy
ans, and the buying of them was on a
scale which could only be for the ac-
count of the largest of the local Inter-
ests.s Buying was without any specific
news to explain it. II was attributed
to the same source as that which con-
stituted the determined support of the
AAelA ret oil tiTOuSH aSCRnI Crisis. The
prelic in Wall street W as strong In the
opinion that what are called the Wander
b1lt, Morgan, Gould Rockefeller and
Hartman interests We're all buyers on a
very large scale of the various stocks in
which they are interested. Spectators
and professional operators exhausted the
best powers of conjecture in striving to
discover the motive of this buying. AS
there was no acute pressure of hquida-
ton, the mere purpose to support the
market was not sufficient explanation as
1T was on last Friday and on Monday.
Ihere was considerable crosstrading
early IN the day which chad the appear
ance of an effort tosoc0nfuse sentiment,
bf okers usually acting for large capital
lists. making very large trades on both
sides of the market and almost simultan-
eously. The persistent weakness of
Amalgamated Copper. which fell another
3A points today, still further confused
sentiment. When that stock made
vigorous rally of 23s the effect of the buy
ing elsewhere became emphasized and
prices rose buoyantfyS Throughout the list
to the top level OF sths day. Southern
Railway was easilyj1the feature, and
nearly all the TRANSACTIONS in the stock
share lots. The price rose 2 points and
an extended additiona4g Hist of the Nor
gan railroads advaneed from 1 to points
Hooking Valley gained-5@. The Wander
bilt group, includings New York Central
the New York, Chicago & st. Louis
stocks, Canada Southsrn Cleveland, c.,
c., & st. Louis. ,,Peola, & Eastern and
Lake Erie & Western rose from 21z to
ths. giving rise to confident predictions of
an early announcement of a comprehen-
sive plan of merger for, all the Wander
bits. The rise of AS in Sugar was due
to the stock subscription rights declared
by the stockholders today Conditions
in the money market were tranquil under
the Influence of the large out-go from the
treasury to the money market. The banks
have gained during the week from that
Institution $11 $4,000 The easing effect Of
this ereplenishment served. to further
steady; foreign exchange rates and de-
Aferred engagements OF gold for import,
while the exchange at Chicago fell back
to zoe discount, compared with 1oc dis
count yesterday, andtparYono Friday. 7a,.,
Speculative bonds were active and
strcng, but there was some ;irregularity
among less active issies. Total sales, par
value, $2,095, 200. United States refunding
Is advanced n per- cent on the last call .
sTOCKS. ~