The daily morning journal and courier., 1902-09-03
Eima,rria1.
THE STOCK MARKET.
Increased Activity and Strength in the
 Entire List.

Increased Activity and Strength in the Entire List.
 New York. Sept 2.-The resumption of operations in the stock market after the triple holiday was accompanied by l increased activity and strength in the entire list. More than a score of stocks established new high records, among them being Atchison common, Canadian Pacific, Cleveland c. c. and St. Louis, Colorado Southern End Pfd., Detroit Southern common and Pfd.. Missouri Kansas and Texas PSd., St. Louis Southwestern, Norfolk & Western, Pennsylvania, Baltimore & Ohio, the Readings, St. Joseph & Grand Island End Pfd., Toledo, St. Louis & Western common and Psd., Wheeling & Lake Erie common and End Pfd., and the Sloss Sheffield steel issues. Contribut- ing factors were last weeks favorable bank statement and the strength of | Americans abroad, London buying on balance to the extent of 10000 shares, chiefly Atohison and Reading. No specific news was heard to account for the improved conditions and general enthusiasm save in the case of the an- thracite coalers concerning which there 1 appeared to be fast increasing belief fostered in high circles that the strike | fcy ariS .ror was the feature, scoring net advance of 5-S points, and closing at the high est figure of the day on transactions ag- gregating over 250,000 shares, or almost quarter of the days total opera tions.
 The other Reading issues made ma terial gains. as did also Lackawanna, Delaware & Hudson, New Jersey Cen tral and the Fries. There were rumors that the heavy buying of Reading com mon had unwtingly created a con- dition savoring of a corner. The buy ing 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 outlook re- sulting from the new agreement to ad- vance grain rates to last springs basis from Missouri river to Chicago and St. Louis points. Railroad returns as re- ported for July were in the main satis- factory. Such properties as Louisville & Nashville Union Pacific. St. Paul, Norfolk & Western, Wabash, Min neapolis, St. Paul & Sault Ste Marie
 as we'll as number of less conspicuous roads showed net increases. Another l favorable feature which was not disreA garded 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 close, save in a sew | instances were not at best prices. The only unfavorable developments were the higher rates for early money, per cent. being the maximum figure with a 1 fractional decline at the close, and l further drafts on local banks amount ing to $600,000 for the crop movements in the west and southwest. Much of 1 the days business was credited to pool manipulation, but there was neverthe- l less much public and speculative inter est of genuine character. On the curb Northern Securities and the new stocks of the Rock Island company sold higher than at any previous time. Rock Isl- and company sold higher than at any previous time. Rock Islands strength
 was attributed to heavy buying by the | controlling interests. Stocks of the American Bicycle company were weak
 throughout as a result of the days de- velopments, the price of the common stock selling off to 3-4, as against 1-2 at last Fridays close.
 Railroad bonds were generally higher in sympathy With the stock list, par ticularly the convertibles. Total sales I par value $4,6SO,000.
 U. s. 2s and 3s advanced IA per cent on the last call.
 NEW YORK STOCK MARKET. ! n nncuNnr kTtoHan& Io.-U.A a.a-..