The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-09-06
DAY IN WALL STREET
TRANSACTIONS ON THE STOCK Elk
CHANGE ALMOST WHOLLY
PROFESSIONAL
PRICE MOVEMENT rs NARROW
Ifst
Stocks Hold ThefrEa3ecent Standard
of Value With Great Tenacity-
Currency in Demand in the
Central West.

NEW YORK, Sept. 5.GAThe operations
OF professional traders, to which business
ON the stock exchange is now almost
wholly confined, do not make more than
superficial Impression Mpon the mar
ket. The object Of the traders is achieved
ii prices are moved, whether in one direc-
ton or another When the professionals
perceive that in selling stocks they are
getting into sparse company, esey turn
with the utmost cherfulneSS to the buy
ing side. as they did yesterday, and for
a time this morning, and when the buy
ing demand shows diminishing power.
there seems danger of becoming loaded
up with long stocks, they begin to sell
with equal alacrity, as they did this aft
efnoon. The news from day to day may
continue much the same without affect
ing the periodicity of the narrow fluctu-
atoms in such market. AS a back
ground to the market lie the strong gen
erai conditions of business. the prospect
that the interruption to the prosperous
conduct of the steel industry will not
much longer be continued. and the deter
mlnation with which controlling interests
IN the great properties cling to their
holdings, 1t is the obvious policy of
large capital at this time to discourage
active speculation, pending the clearing
OF the autumn money requirements and
at the same time. offer effective support
for prices of securities when threatened
The principal devel opment today was the
renewal of~the interior demand for cur
rency. There was deposited $500. GOO at
the. subtreasury for transfer to Chicago.
and $4,000 for transfer to New Orleans
Yesterdays subtreasury operations WELD.
ed small Balance to the banks on ac-
count of payments for gold deposfteaea at
Pacific coast points, and there was fur
ther payments for the same account to-
day, but it is obvious that the current
government surplus will render nugatory
these relieving influences The subtreas-
ury had in fact taken 2,25SG from the
market up to last night. . Igh the
movement CT currency to the illterior was
suspended up to that time, The offer
lngS OF United Skates bonds for redemp-,
ton under the terms of the secretary of
the treasury have slightly Increased in
the last few DAYS, bHt18hey are insjw-
nfteant as an offset to the drain on al-
count or the governments revenues. Wall
street is discussing rsliefFby5ssomes new
action by the treasury department. as is
the 1nvariable case In TpeTfods of money.
0Hfnculty. but there was nothing an
nounced to give color 3tentke, expectation.
Money worked frmer in all departments
5oaay' and sterling exchange fell an ad-
dltlonal fract1cn, and FpsFts were in cir
culatlon of "a $4,000 engagement for i'm
port. Discounts hardeAed3 London hlIt
the release of funds Following today's
payment of an ins+alifnentIon consol sub
Scr1ptloHs may relieve that market The
weekly statements of1bofh the Banks of
England; and France show losses in gold
reserves. Todays early SHOW of Strength
was confined to the coalers, VanderbiIts
srangers and Pacifics|an1ong the rail
ciafties among the indlslIrials, Brook1vn
transit was weak throughout on ia poor
showing of July net earnings. The mar
ket closed weak at declines running up,
to points ~
railroad bonds were irregular in tone
anu uuli. Total sales. par. value, 81, 455 900
United States bonds were unc}apoed ~,
the last call. o''