The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-09-10

NEW YORK, Sept. 9.-with business
well in excess of 1000, 900 shares and
widely distributed, today's stock market
ruled generally firm, with many marked
advances, and closed with sentiment rath-
er mixed. Except for further good crop
advices n word of an approaching i'm
portation of gold from Australia, there
was little to account for the strength
shown. On the other hand, the financial
outlook was again menacing, call loans
advancing to 8 per cent. No little dissat-
isfaction was shown at the status of the
coal strike situation. In good part the
many pools. The market opened with
gains in the Southwestern stocks, partic-
ularly those in the Gould system, and the
strength of these issues, more especially
point of activity. was accompanied by a
host of rumors, none of them authorita-
tive. The street" ascribed much of
Missouri Pacifc's strength to the opera
tons of a we'll known pool, and this belief
was heightened, by the character of he
buying.
Manipulation Is fragrant.
Later there were large and brisk oper-
atoms in some old favorites, such as
Louisville & Nashville and Southern Rail
way, it was in these stocks that ma
~nipulation wan most manifest. Concurrent
with the move in these issues was the
strength of ST. Louis Southwestern and
the so-called Denver class, but in these, as
we'll as in Southern Pacific, manipulation
was at times fragrant. Apparently moro
genuine was the move in Wabash issues
and in Western & Lake Erie. which adj
appeared to be excited by the regular
dividend announced in Western Union and
Manhattan, traders taking them as fore
gone conclusions. The advances in South
ern Railway met with free selling for
London account, but at the opening that
market bought moderately Of Southern
Pacific, which it also soy when that stock
moved up. The day as a whole once
more found London a seller on balance.
Steel Somewhat Heavy.
United States Steel shares were COM
paratively inactive and inclined to heavi-
ness, partly as a result of an adverse
legal decision, though both issues held
their own at the close. In the last hour
stocks which had previously been neglect
ed We're taken up and made varied adj
vances. In addition there was an early
buying movement in the Wabash issues
and the Southwestern group, with a U
cif1c, which appeared to be in the nature
of profit-taking. New high records were
made by the last named stocks, as well as
by Atchison, the Wabashs, Wheeling &
Lake Erie, Pacific Coast, st. Louis South
western preferred, Southern Pacific, Sloss-
Sheffield preferred and General Chemical
preferred. Rock Island issues were a
the curb operations, the first named being
stimulated by the strength of the new
securities in the outside market. In addi-
ton to the adverse conditions already
mentioned, the technical position of the
money market as a whole was not re-
garded with favor.
Banks Lose Cash.
Since Friday last the banks nave lost
almost 81, 900, 900 to the subtreasury,
which reduces the surplus reserve as re-
ported in last weeks bank statement to
practically nothing. Then, too, heavy
pension will have to be met the
latter part of the week. but probably too
late to figure in this weeks bank state
ment.
Wabash debenture bonds continued the
feature of the bond market today, enorm-
GUS purchases advancing. them nearly 6
points to 49,. No further light was thrown
on the recent extraordinary trading in
this issue. The general market was also
active and strong. Total sales were Of a
par value of S., 655, 900.
United States old As advanced Is, the
new 4s coupon n, and the IS rs per cent
on the last call.
Cfnckc ~