The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-09-04
STOCKS ARE DISTURBED BY
ACCIDENT TO PRESIDENT.
RALLY COMES LATER AND
TRANSACTIONS LARGE.
Reading Still to the Fore, Though
New Influences Are at Work
on Other Lines.

New York. Sept. s.-The course OF che
stock markets to-day was in marked con-
trast 10 that Of yesterday in that It was
governed largely by different influences. al
though Reading and some Of the other coal
ers were again well to the fore. Opening
with a renewal of the previous DAYS bull
ish enthusiasm and strength. the list re-
] ceiVed what at first threatened 10 be a ser
lous setback on early news OF the accident
10 the Presidential party. Rumors more or
underwent a general recession. As soon as
the extent OF the disaster beca ne known
the market recovered the greatest part Of
Its strongest undertone, but for a time there
was a marked decrease OF operations. Later.
however, the early activity was resumed
and the day as a whole was the largest in
volume of the present season The i1st
hour witnessed an extraordinary squirt IN
pennsylvania. that stock selling up to 1857.
involving over 100. 90 shares. The advance
IN this stock was accompanied By rumo-5
creating the road with control Of Reading.
Another reason advanced in explanation Of
Pennsylvania's strength was the rather
good showing made in the cornpany's re-
ports for the first seven months of the wear.
PENNSYLvANIA'S GOOD SHOWING.
Net earnings on the lines directly operat-
ed by the pennsylvania for the period
named show an Increase Of over s2.yOo.00.
burg and Erie show an Increase of more
than 100000. Interest continues to center
largely in Readings and the common opened
"AHA - Oh cav Ild.lSdE-
tons. The gains were almost entirely
wiped out as soon as the Pittsfield incident
became known. subsequently. however, the
stock more than recovered this loss. selling
up to Isiz. closing at 16l. and registering a
net gain for the day of more than a point
on transactions. aggregating over 5000
shares. The other Reading issues, on mod
crate trading. made fractional gains. There
We're no material changes in the other an
thracfte stocks. except in New Jersey Cen
trail. which declined four points.
In the soft coal group Norfolk and West
srp was the feature, the stock scoring a
Pfttsburg. C.. c. & ST. Louis. on very light
transactions, made a net gain of over six
points, and Chesapeake and Ohio. in which
operations were quite extensive, also closed
at a material advance Labor Commission
er Wright's report on the strike situation
excited little comment.
CONSIDERED FAVORABLE TO MINERS.
In many quarters the report was regarded
as distinctiyely favorable to the miners. The
trading in Reading had every indication OF
angular contest involving Pennsylvania.
Morgan and Gould interests were prevalent.
close, already referred to. gave color TO these
rumors. but nothing tangible came from
any authoritative quarter. In addition to
Reading common new high records were
made by Atchison. Baltimore and Ohio, Nor
folk and Western. Pennsylvania, st. Paul.
Detroit Southern Preferred; North Amer
field Steel issues. Southern Pacific and sew
eral less conspicuous stocks. Marked
StIeHSlH Wis slOhn DE llllnOlS Central,
Rock Island. Denver and Rio Grande, Man
haitian. Sugar. Amslgamated and Anaconda
coppers and International Power. On the
curb Northern Securities was again very
strong, with a new high record. Monetary
conditions continue satisfactory, although n
fair amount of money was placed at s per
cent The prevailing rate was So per cent.
Reports from Washington agree that the
Treasury is prepared for any possible money
stringency- In brief. there promises to be
abundant resources TO meet the crop move
ment. Contrary TO expectations. no trans
fers were made by the Subjreasury.
The bond market continued very active
and showed some irregularity on proft-tak-
ing. Total sales. par value. A.1S5.cO.
United States bonds were all unchanged
on the last call.