The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-10-30

Exchange
DIRECTORS
/ 4 G: q a: i !; s115 e. e { =3z Bank
FEAR OF GOLD EXPORTS G
CAUSED LIQUIDATION.
STOCK MARKET WAS AT
TIMES ALMOST STAGNANT.
Foreign Exchange Advanced 10
$iS6.90. Highest Point Reached
Since Present Movement.

Ncw York. Oct. 9-Another dyanc IN
foreign exchange 70 the highest point
reached during the present movement. with
~attenctnt fears 81 gold exports. brought
further liquidation 70 the stock market to-
day \ great deal OF selling was Tor ac~
count W. the Western speculative element
ana tarch OF Il was forced. ENot a Few stop
loss orders we've uncovered and the room
traders. CmholGCued by this show Of weak
Less made a series ~ drives which left she
list generally lower with many sharp
breaks.
Exchanre advanced 10 1881. which. ip
the orinion OF some bankers was several
points away from the basis at which gold
could be used FOR reulittanccs With profit
some exchange firms believed. however.
that engagements might be made with eN-
Chtnge only . points above to-day leFRl-
Stch an advance = REGARDED as very likely
unless the market shifts materially and
teGtutlve negotiations with n view TO ex-
change on Lohdon remained at = francs
J. centimes indicated that the triangular
center IN payment OF London's obligations
Il Paris could easily be arranged
Opening prices FOR stocks were n trihe
better p tho activity in such issues as
3. * @. and Norfolk & Western seemed
Que 10 TIE aE-TSsiveness OF one Of tho
leacinC operators. The advance In South
ern Pacific was regarded as a drive against
o1e OF The bear pools in that stock, while
me weakness OF Colorado Fuel suggested
INSIDE selling.
An through the morning session deal
inSs were professional and insignificant.
and at times the market was completely
scagnant. The only strong features DURING
this period were Texas and Pacific, Mime
apols. St Paul and Sault Ste. Marie, Kansas
and Texas preferred and Illinois Central.
Elsewhere in the standard class fluctuations
were extremely narrow. Colorado I'uei
made a further decline. but the Rubber
Coos Issues were strong at improved
prices. one Of the redeeming features was
the buying for London account to the eX-
tent OF 3.oo shares, but these Transactions
were negative. inasmuch as they repre-
sented New York buying and were incl
dental TO the change OF accounts between
the two markets. a sale OF 6.Wo shares OF
Colorado Fuel by one firm sent the price
on 10 ~ and that stock made a net loss
OF another point.
The real legislation occurred in the after
noon. Stocks that sustained the greatest
declines included Delaware and Hudson.
which made q net loss Of SIX points and ST.
Paul. Missouri Pacific. blinds Central. l.
& n. Z. * O.. Norfolk & Western. Read
Ing and Colorado Fuel and Iron declines ex-
tending from ? 10 81 points. In spite OF
the United States Steel decision. thoSe
stocks held comparatively hrl
The closing was weak The SubtreaElry
ciSbursed 2@.00 for Australian and other
gold deposited at San Francisco and S?4T-
sS principal and interest for Government
bonds.
Railroad bonds wers irregular with the
active issues showing heaviness in SYN
pathy with stocks. Total sales. par value.
&c6aon United States bonds were an IN
changed on the last call.