The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-09-27
STOCK MARKET MAKES
SHOWING OF STRENGTH.
SHAW7S OFFER HAS SENT
MENTAL EFFECT.
Dealers in Bonds Believe None
Will Be Sold to Treasury at
Price Proposed.

New York, Sept 1-There was q show
Of considerable strength IN the stock mar
ket to-day The principal movement was in
ST, Pau and Louisville and Nashville. and
the extreme advance OF 81 in the latter and
81 m the former had considerable sy-upa-
tnetic effect On the railroad list generally.
There was brisk buying of Reading, Domi-
rally based on the supposiuon that the end
Of the coal strike Is near. Manhattan IVES
largely bought by the speculative interests,
which have been accommodating the stock for
some TINE There was a notable DISPOSE
tor 20 advance on the part Of several minor
~low-pr1ced irdustrials, especially the rrTi-
WY equipment companies During the fn1l
Ing had advanced prices. took their profits
veTy generally, with the result thai enal
pieces for many leading stocks are from /
10 Z poirfs lower than the best
NET GAINS MADE
Ne gR.ns are very generally indicated for
the cay. nevertheless The special zround
for Ins movement in ST Paul was the pub
ncatlon OF a report that important stock
SUBSCRIPTION privileges are to accrue shortly
louisville and Nashville was helped BY the
color OF authority given 20 q report that the
control Ct the system is 10 BE- lodged v>sth
the Atlantic Coast Line. This Yould Sans
LsciorlE soiye the problem that has much
pulzaed wall street ever since the control
q Inc road was snatched from its longtime
ho1oers as an incident in q speculative cam
bn nehey rates continued high to-1ay.
ouI q ~ was available and the feeling
was engeadered that the banks Will make a
sIrong showing in the statement to-morroy.
Inc money lent In the market was said 10
come from the trust companies and tufusn-
tial bank officials disclaimed any lending IN
she STOCK market on the part OF the banks
Scretary shaws supplementary offer TO
purchase Government . per cents az Il5 had
l4Eoraole sentiment upon the market
Ike the oner 10 anticipate Government in
street that the effect OF this measure will
ce rather than Practical Pre-
ELous 10 to-day the last sale price for The
% was ld but the ruling quotation Is 1854
:, sno IesG asked. and there were sales on
1s-,-aca.fss az ltS% after the Treasury De
oUer was ruulEe
BANKS LOSE
Bond dealers are Emphatic "a sns IT.
p ~ opinion that the Secretary's price
pones The preliminary figures oS TIE
weeks movement OF money indicates rhsf
re nSnks nave lost over 100000 durinr
sAe WEI including payments by the Sub
sno the Assay Office on account of
golo deposited at Pacific Coast potnTs s15
on account OF the 1000 in SoId ba-s
which arrived from Europe. CorsijereS in
connection with last weeks deficit ~ r.
serves OF over N.6oAn. Il VIII be perceived
InAl q very extensive reduction Of loans
and ceposft liabilities must have taken
place in order 10 bring the hanks reSs-yeS
TO the legal limit again. Spectators 70
Gay profesSed great confidence however
IneI 2. considerable surplus wouid he -a-
by to-mOrrow's hank statement An
lnaoent OF the cav was the rather fruSar
tone for sterling exchange IN Connection
WIN the iessened suingency in the money |
The bond market was firm in tone To+a,
sales. par value. S.7+0.Oco. United States old
IS coupon declined i per cent on the las. |