The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-10-28

NEW YOttA, CcC. 21.-IneN course OF
today's stock market gave little prom
Use OF any change from last weeks dull
and narrow conditions. Trading was
very light and the professional ele-
ment was still III control. Reports Of
fresh labor troubles among the rail-
reads running into Chicago were heard.
IRA ders. Fecei4ed' Z. no. &encoura cement
from London, where quotations for the
International stocks were fractiopally
lower. Colorado Fuel & Iron was the
most active feature of the opening, adj
vancinS over 5 per cent on moderately
heavy transactions, but losing fully
oEle-half of it's adyantage before the
close. Baltimore & Ohio was also ex-
/ tensiyely traded il at an opening de-"
cline, and LackaWapna Geld up / per
cent att first and only cfferil9g OF
the day.
By the end of the first hour the
weakness of the list became more
marked, though with no direct evidence
OF pressure to sell. Losses of "a point
or more We're then. shown by Atchiso1l,
New York Central Pennsylvania,
Baltimore & Ohio, Reading, Erie.
Louisville & Nashville, Chesapeake &
Ohio, Norfolk & WESTERN Texas &
Pacific, Missouri Pacific, st. Louis
Southwestern preferred, wabash,
minneapolis, St. Paul 6 Saul Ste.
Marie, Toledo, St. Louis. & Western,
Canadian Pacific. Saga, laTnai gan2ated.
Copper and Hide and Leather prefer
red.
Heaviness Kegs Up.
With :. scarcely an exception, the
heaviness Of these issues continued
throughout the cay, and in some in
stances became mere acute. Thefa
were few feeble rallies, but these
were limited tc fractions and the, early
afternoon brought a tuln OF general
weakness. The selling s,se112etf 10 come,
from small l1rlders on the long side.
London seid the list impair TALLY to the
extent of about $1,000 shares, and
bought moderately Of Northern Securi--
ties.
Commission houses cut no figure in
the days opaI atoms and tradafs- viewed
the situation with increased ,-indiffer-s
ence. The only noteworthy feature was
the decline in the rate for commercial
paper, which was last week practically
unobtaina5le at less than the. legal
rate, but today fell to 512 to 5A This
late was secured by borrowers of first
rate commercial credit, and was gem
orally accepted by interior banks
which prefer to Lean money TO nercan~
tile interests rather than obtain the
higher rate in Wall street. Banking
experts regarded this ease as especially
significant il shelving the downward
tendency of money. A slight advance
was shown in sterling exchange, ad
it was believed Their I,ad been q heavy
accumulation Of commercial bills over
Sunday. Exchange was quoted at
$4.S6.50 to $4.66.e0. -
Geld Experts Seem aenco.e.
In spite of this Increased ffirntness,
gold exports are regarded as more re-
mote than ever. Another shipment OF
Australian sold to this county was re-
ported by the Anglo California bank,
OF San Francisco, and the amount,
$1,T50, geo, probably will be transferred
to- this center at an early day. The
final hour found the list even more
narrow, with a further contraction of
business. One Of the special features
was a 10-peint decline in Brooklyn
Union Gas and other high priced
stocks were. off 2 to points. The
closing was weak. Further gross and
net traffic returns, some of them quite
favorable, were reported by Louisville
& Nashville, Southern Railway, Mexi-
can Central, Cleveland, C. C. & St
Louis, Georgia Central and Hooking
Valley. In the way OF gossip, it was
semi official y stated that there would
be no early increase in the Louisville
& Nashville dividend rate. The heavy
selling of Norfolk e Western was
aserfbed to the belief that the coming
dividend announcement concerning the
common stock would prove disappoit-
ing.
The. active bond issues Were weak all
around on small dealings. Total sales,
par value, S1,695, 900. United States
bonds We're all unchanged on the last
call.