The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-09-04

NEW YORK, Sept. 8.-The course Of
the stock market today was In marked
contrast to that OF yesterday In that 1t
was governed largely by different inf1u-
ences, although Reading and some OF the
other coalers were again well to the fore.
Opening with a renewal Of the previous
days bullish enthusiasm and strength,
the list received what at first threatened
to be serious setback on early news Of
the accident to the presidential party. Ru-
mOrs more or less conflicting We're nu-
merous and the list underwent general
recession. AS soon as the extent of the
disaster became known, the market re-
covered the greatest part of its strong
est undertone, but for time there was
however, the early activity was resumed
and the day as a whole was the largest
In volume of the present season.
The last hour witnessed an eXtraord1-
nary squirt in Pennsylvania, that stock
selling up to 1881, a net advance Of five
points on transactions involving over
100000 shares. The advance in this stock
was accompanied by rumors crediting the
road with control of Reading. Another
reason advanced in explanation Of Penn
sylvania's strength was the rather good
for the first seven months OF the year.
Net earnings on the lines directly oper-
ated by Pennsylvania for the period
named, show an increase OF over $2,500,
Pittsburg and Erie show an increase
largely in Readings, and the common
opened with material advance on heavy
transactions. The gain was almost en-
tlreiy wiped out as soon as the PittSffeld
incident became known. Subsequently,
however, the stock more than recovered
this loss, selling up to 1914, closing at
76A and registering a net gain for the
day OF more than a point on transactions
aggregating over 285, 900 shares. The
other Reading issues. on moderate trad
no material changes IN the other anthra-
cite stocks except in New Jersey Central,
which declined four points.
In the soft coal group Norfolk & West
substantial gain on very heavy trading.
P. c.. G. & st. L. on very light TRANSACT
ttons made q net gain of over six points,
and Chesapeake & Ohio. in which opera
lions were quite extensive, also closed
at q material advance. Labor Commits
sioner Wright's report on the strike situa-
ton excited little. comment. In many
quarters the report was regarded as dis
tinctly favorable to the miners. The
trading in Reading had every indication
Of competitive buying and reports Of a
Morgan and Gould interest were preva-
lent. Pennsylvania sharp advance to-
ward the close, already referred to, gave
color to these rumors, but nothing tangi-
ter.
Other High Records.
In addition to Reading common. new
high records were made by Atchison,
Baltimore & Ohio, Norfolk & Western,
Pennsylvania ST Paul. Detroit. South
ern preferred. North American, Wheeling
& Lake Erie. Sloss- Sheffield steel issues,
Southern Pacific and several less conspic-
uous stocks. Marked strength was
shown by Illinois Central New. York
Central, Rock Island Denver & Rio
Grande Manhattan. Sugar, Amalgamated
and Anaconda Coppers and International
Power. On the curb Northern Securi-
ties were again very strong, with a new
high record.
Monetary conditions continue satisfac-
tory, although fair amount Of money
was placed at per cent. The prevail
ing rate was 51a per cent Reports from
Washington agree that the treasury is
prepared for any opssble money stringen-
cy. In brief there promises to be album
dant resources to meet the crop move
ment. Contrary to expectations no trans
fers were made by the sub-treasury.
The bond market continued very ao-
tive and showed some irregularity on
profit taking. Total sales par value
81, 1876, 600. United States bonds were all
unchanged on the last call.
Stocks.