The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-09-18
Amer lean
Exchange
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EAlSON ANS Asst Camer go ~0o
FEARS ABOUT MONEY MARKET
ARE SOMEWHAT RELIEVED.
STOCK SPECULATION MORE
ACTIVE IN CONSEQUENCE.
Volume of Transactions Not Much
Increased-GOld Coming
From Abroad.

New York. Sept. E~.-Speculatiye senti-
ment was further improved in Wall street
to-day and prices OF stocks enjoyed addi-
tional recovery. The relief OF the acute
uneasiness over the money situation by the
large engagements of gold for import
ket and made 1t easier to mark up prices
again. The volume of the actual buying
demand was light, however. and the num-
Der OF shares dealt in was no larger than
yesterday. The movement hitherward of
some s1.oJo.0D in gold from various quar-
tiers gives some feeling of assurance that
additional requirements of currency by the
interior will make IL as much due to fear
OF this future contingency as to the Psesent
exigency for money.
GOLD RECEIPTS.
The receipt of gold which has been
started toward this center will be in occa-
sional parcels during the next three OF four
weeks. Over $4,000 of the Australian re-
ceipts which arrived in San Francisco yes
terday were made Immediately available to
the local market by Geographic transfer
100000 which started from England to-day
will be available at the end of the trans
atlantic voyage. Of the remainder there
VIII be one parcel of S5o.0o which is not
due to arrive in San Francisco until Oc-
tober TO- II will be seen, therefore. that
there is no actual present relief from the
present process of depletion of New York
bank reserves. The a~nticipatory payment
of Government interest does not keep pace
with the transfers OF currency TO the IN
terror through the Subtreasurv. which
again amounted to-day TO over half a mill
lion dollars. of which about two-thirds
Chicago. The requirements of the large
customs payments meantime continue to
drain funds from the New York banks into
the Subtreasury, the balance of receipts
by that institution at the expense OF the
market having Amounted already since last
Friday to S1.6s1 900.
FUTURE HOPEFUL.
The comparative quiet in the money mar
ket IS therefore due rather TO a sentiment
OF greater assurance for the future than
to actual present relief. The restriction
OF the speculation is a testimony to the
continued scarcity of funds. Call money
touched 10 per cent only momentarily this
morning and ruled generally below that.
There was a notable rebound In the foreign
exchange rate. demand and sixty days ster-
ling bills recovering to &c above the level
at which the gold imports were arranged.
This corroborates the opinion that the gold
import point was slightly forced by those
day on balance. discounts hardened in Lon
don and Paris. increasing the demand for
steling. and the supply of commercial ex-
change bills continued very scarce. Quite
a number of prominent stocks. both among
railroad and specialties. were from TO 2
points over last night at one time to-day.
but the prices were not held The market
closed about steady.
The bond market was firm. Total sales.
par value. g. l0S.W 90.
United States SIS. reg. advanced Il; the
coupon 4 and the old As y per cent on the
last call.