The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-09-03

NEW YORK, Sept. 2.-The resump-
ton of operations in the stock market
after the triple holiday was accompa-
MED by increased activity and strength
in the entire list. More than score Of
stocks established new high records,
among them being Atchison common,
Canadian Pacific, Cleveland, c., c., G. &
st. Louis, Colorado Southern second
preferred, Detroit Southern common
and preferred, Missouri, Kansas & Tex
as preferred, st. Louis Southwestern,
Norfolk & Western, Pennsylvania, Bal
tfmore & Ohio, the Readings, st. Jo-
seph & Grand Island second preferred,
Wheeling e Lake Erie common and
second preferred, and the Schloss- Shelf
field steel issues.
Contributing factors were the last
weeks favorable bank statement and
the strength Of Americans abroad, Lon
don buying on balance to the extent of
10000 shares, chiefly Atchison and
Reading. No specific news was heard
to account for the improved conditions
and general enthusiasm save in the
case of the anthracite coaIers. con-
Ecerning which there appeared to be a
fast increasing belief. fostered in high
circles, that the strike is nearing an
end.
Looks Like Corner.
Reading common was the feature,
scoring net advance of SIX points
and closing at the highest figure of
the day on transactions aggregating
over 100000 shares or almost one quar-
ter of the days total operations The
other Reading issues made material
gains. as did also Lackawanna, Della
ware & Hudson, New Jersey Central
and the Fries. There were rumors
that the heavy buying of Reading
common had unwittingly created d
condition savoring Of a corner. The
buying Of this stock came in large part
from houses supposed to represent in
side interests. To a great extent the
strength of the Western railroad
stocks was ascribed to the better out
look resulting from the new agree
ment to advance grain rates to last
springs basis from Missouri river to
Chicago and st. Louis points. Rail-
road returns as reported for July were
in the main satisfactory. Such prop
critics as Louisville & Nashville. Union
Pacific. st. Paul. Norfolk & Western,
Wabash, Minneapolis, st. Paul & Sault
Ste. Marie, as we'll as a number of
less conspicuous roads, showed net in
creases. Another favorable feature
which was not disregarded by students
of the market was the large increase
of exports over the corresponding
period for last year. The list continued
strong and active to the end, though
the closing, save in a few instances,
were not at best prices.
Money Was Higher.
The only unfavorable developments
were the higher rates for call money
80 per cent being the maximum figure,
with fractional decline at the close
and further drafts on local banks
amounting to 100000, for the crop
movements, in the West and South
west. Much of the days business was
credited to pool manipulation, but
there was nevertheless much public
and speculative interest of a genuine
character. On the Curb" Northern
Securities and the new stocks of the
Rock Island company sold higher than
at any previous time. Rock Islands
strength was attributed to heavy buy
ing by the controlling interests. Stocks
of the American Bicycle company
were weak throughout as a result of
the days developments, the price, of
the common stock selling off to 1A ,
as against 3h at last Fridays close.
Railroad bonds were generally high
er in sympathy with the stock list
particularly the convertibles. Total
sales, par value, $4630,000.
United States rs and IS advanced Il
per cent on the last call.
Stocks.