The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-11-30
LOUISVILLE IS BID UP BY
WALL STREET PROFESSIONALS
RUMOR THAT DIVIDEND is TO
BE INCREASED.
Milder Reports About Presidents
Message in Relation to Trusts
Have Little Effect.

New York, Nov. 29.-The professional
RAIDERS, who practically ~monopolized to-
digs narrow stock market. bid up Louis
Vile and Nashville on the professed be-
lief that the dividend Is to be increased
and Brooklyn Transit, on the showing OF
increased net earnings for October. These
movements served to overcome the heavi-
ness of the opening dealings. Commission
houses with Washington connections cir
culated alleged verbatim extracts from the
Presidents forthcoming message of a much
milder tone on the subject OF trusts than
some of the recent alleged forecasts circu-
lated by bear traders, but the market
failed to develop animation owing to a gen.
eral desire to see the bank statement be-
fore. making commitments. There was a
splling cut of stocks when the statement
appeared, but supporting orders were met
and the market rallied and closed steady.
The decrease III cash was less than antici-
] rated from the known movements of money,
but the heavy increase in loans was the
(disquieting feature. 1t is said that interior
1 banks have been calling loans placed IN
this market earlier in the season and the
demand upon the local banks for
dations has thereby been increased. Inc
free loaning here by interior banks early in
the season gave rise to the hope that they
were SO largely supplied that the neou usual in,
be less than usual this season.
LOANS BY BANKS.
The accommodations then offered, how
ever. have been largely recalled. Interior
loans in New York were estimated. at one
IlHG III HlllCk u JIG IN iiAiS -
lars and are said to be now less than $p,-
10000. This weeks loan item of the banks
also undoubtedly represents preparations by
mepts. These payments are likely to
be returned to the local money market
after their receipt by stock and bond hold
ers. The payment In London on Monday
for the stocks of constituent companies IN
the shipping combine also marks the saus-
factory requirements which have helped TO
hold up the sterling exchange rate here and
to draw from local sources here. This week
effect on the whole list so far as the price
movement was concerned. without. however,
inducing any important degree OF activity:
As the special Developments nave been OF
conflicting import, the price movement has
also been Irregular and constantly nuctual-
ting. This Irregular movement r.s s,b oe fSa
small actual participation In the market.
Tie most important event Of the week was
the Manhattan Elevated to the Interborough
Rapid Transit Company, the corporation
yhich y i to o operate nth the fsH"yaS,s sa ereee u
the Manhattan lease was neutraiized by inc
disclosure Of q divergence Of views and a
C Gsae 3 u Fu lsHs and Iron Company %
COLORADO FUEL SIGNS.
The fact the George Gould and E II.
Hartman were in open conflict over secar-
ing proxies for the coming annual menus 0sitnss
It was sought, by the issuance OF reassur.
ing statements, to allay the feeling that
the harmony OF Inc rdliIOau sltudllOu was
endangered, but the depressing effect upon
the stock market was not altogether re-
moved. The disclosure Of a conflict OF such
duietude. 1t is probable. however. that the
hesitation and uncertainty revealed In the
securities market were due fundamentally to
general causes rather tnan to any special
events, The sustained strength of the for
eign exchange market, through the heavy
merchandise export period, holds the con-
slant threat of gold exports over the mar
ket Interior money markets are reported
tight, thus delaying the seasonable return
fow of currency from the interior. The
condition Of interior bank loan accounts
leads to the supposition that the process OF
heavy additional capital outlay has gone on
the country over. in small enterprises as
well as large. The year-end settlements
are yet to be met and foreign creditors
stand waiting to draw on any additional re-
sources which may be yielded to the New
York money market by the return of cash
speculative use are in scanty supply and
financial authorities and powers are averse
to seeing large credits used for speculative
purposes. tn drop in silver to the lowest
price In the history CT the world has been
an Incidental influence in the market. spe-
cidcally upon the American Smelling stocks ,
and generally by reason of the embarrass- |
ments caused to the silver standard coun-
tries and their reflection upon the worlds
financial centers.
The bond market has been dull, but prices
Of investment issues are well sustained.
Omitted States D.. the IS registered and the |
lts declined " per cent each, as compared
with the closing call of last week. |