The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-10-19
GOOD BANK STATEMENT
HELPED TAGGING STOCKS.
REALIZING MOVEMENT FOL-
LOWED-CLOSE WEAK.
Market Opened Active, With 4
Partial Renewal of Pool Opera
lions in the Railroad Stocks.

New York. oct. is-The market opened
Zftkh a partial renewal OF yesterday ; peoi
operations In the railroad stocks. Balu-
more and Ohio made a wide opening. Penn
syivania was active. thOugn setlng ifaSuun-
ally lower. as did also Norfolk and west
ern. The reaction IN the latter stock was
ascribfd 10 heavy selling by those who be-
lieVe that any increase IN the Setnlulhual
dividend will not be more than one-half OF!
per cent. putting the STOCK on d > per cent
Extreme weakness was shown by New
York Central and Union PACING ana 81
Paul also sold below yesterday close BAT
timore and Ohio made a further advance.
but the Southwestern group. under the lead
OF Missouri Pacific. showed some heayiness
In the Industrial class Tennessee Coal ana
Iron and the United states Steel stocks
were the features in point OF strength while
Sugar and A~malgamated copper were t2N-
ct. than at the previous days close Inc
list showed some further realizing due 10
heavy selling for London and pront-t1klns
COOP hank STATEMENT.
Prices showed a tendency. 10 sag in the
second hour. but the publication OF the
bank statement, which was favorably re-
garded. brought a resumption OF the carly
activity. with better price, IN the maj
trading. however. there came another re-
aiizing movement and the closrS was weak
with lowest prices OF the day FOR many or
the more active issues.
To a conservative element. the bank state
ment presented several gratifying features.
namely. the decrease Ia the loan account
the increase OF almost Al-ss!O1 In ciFcuia.
ton. the gain In cash ana the inclcaHt "a
reserves on all deposits. which now places
the surplus reserve about 2VouO above the
legal requirements
Attempts were made to revive interest IN
a gold import movement. but they met with
little success. In the opinion OF experts
any serious efforts 10 bring IN gold pstore
the middle or end OF next month VIII De
wholly artificial and nrohtteS
A MEMORABLE WEEK
The week was one OF the most mem9raLlc
IN the recent history OF Wall street II pc
gan with a further liquidation OF stocks,
this movement being largely innucec oy the
previous weeks Disappointing nank state-
meut, a further contraction OF loans oy ue
local banks and fears OF higher money.
That this latter feeling was lustned Vas
shown before noon OF the hrst Day. when
the rate for call morey advanced 70 u per
cent
In the early afternoon a general reversal
Of these conditions set In. on r
news thar n settlement OF the eoai Strike
vas at last under way. The selling move
ment was checked all arouna ana the list
made net gains and. with lev
Increased its advantage as the week wore
on. advances In some instances extending
to more than 10 per ceut
Other causes that contributed 70 the gen
eral Improvement were the large purcnases
Of houoa BY the Treasury. releasing ABOUT
S0oooOm. practically insurtnS easier rates
both for call and time money. ana the Tor
elEn trade statement. showing a large IN
crease OF exports