The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-09-27

NEW YORK, Sept. 26.-There was
stock market today. The principal move,
ment was in ST. Paul and Louisville q
Nashville, and the extreme advance or
So in the latter and 80 in the former
had considerable sympathetic effect on
the railroad list generally. There was
brisk buying of Reading noninally based
on the supposition that the end of the
coal strike is near. Manhattan was large
ly bought by the speculative interests,
which have been accommodating the STOCK
for some time. There was notable dis
position to advance on the part OF num-
Der of minor low-priced industrials. es-
pecially the railway equipment compa-
MES.
During the final hour the professional
operators, whose buying had advanced
prices, took their profits very. generally
with the result that final prices Tor a
number of leading stocks were from to
2 points lower than the best. Net gains
are very generally indicated for the day,
nevertheless.
Why ST. Paul Advanced.
The special ground for the movement
in st. Paul was the publication OF re-
port that important stock subscription
privileges are to accrue shortly, Louis
vile & Nashville was helped by the color
of authority given to a report that the
control of the system is to be lodged with
satisfactorily solve the problem that has
much puzzled Wall street ever since the
control of the road was snatched from
its longtime holders as an incident IN
speculative campaign.
Money rates continued high today, but
a supply was available, and the feeling
was engendered that the banks will make
a strong showing in the statement to-
morrow. The money lent in the market
was said to come from the trust com
panies, and influential bank officials dis
claimed any lending in the stock market
on the part of the banks. Secretary
ShaW'S STDDlen eOtdrV offer to DurChaSe
government per cents at los had a ia
vorable sentiment upon the market. Like
the offer to anticipate government inter
est for the fiscal year, it is felt in wall
street that the effect of this measure will
be sentimental rather than practical.
Previous to today the last sale price for
is 1854 bid and 1864 asked and there
were no sales on the exchange at 1854
after the treasury department offer was
promulgated.
No Important Offerings Expected.
Bond dealers are emphatic in the eX
pressed opinion that the secretarys price
will bring out no important offerings of
the bonds. The preliminary figures of
the weeks movement of money indicates
that the banks have lost over 50, 000, 900
during the week, including payments by
the subtreasury and the assay Office on
account of gold deposited at Pacific coast
points and on account of the $l,000.OO0 in
gold bars which arrived from Europe
Considered in connection with last week. S
deficit in reserves of over $1,000 00 it
viii be perceived that a very extensive
reduction of loans and deposit liabilities
must have taken place in order to bring
the banks reserves up to the legal limit
again. Spectators today professed great
confidence, however, that a considerable
surplus would be revealed by tomorroW's
bank statement. An incident of the day
was the rather firmer tone for sterling
exchange in connection with the lessened
stringency in the money market.
The bond market was firm in tone. To-
tai sales, par value, So, 740, 900. United
States old As, coupon, declined X per cent
on the last call.
Stocks.