The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-05
STOCKS ARE VERY DULL
COMING HOLIDAY PROMPTS THE
CLOSING UP OF ACCOUNTS
Tone Is Distinctly Strong Throughout
Atchison Is Again the Feature of the
Market-Predicted Injury of Corn by
Frost Gives Rise to Uneasiness..

NEW YORK, Sept. 4.-Today's stock
market was again excessively dull, but
dlStlnctly strong. The three days which
Will intervene before trading will be re-
sumed prompted the closing up of specula-
tive accounts, and the fact that tomorrow
is also a holiday in London emphasized
this disposition. 1t is evident that the
majority of outstanding accounts was on
the short side. There was no other OBJ
yious reason for the strength of the mar
ket, as the bulls were as unwilling to put
out fresh commitments on the eve of
the long holiday were the bears.
Atchfson was the feature of the market
both as to volume of dealings and width
of movement its extreme advance of 25s
easily distancing all other stocks There
were some very heavy bear accounts COW
cred on the advance which helped the up
ward movement and gave ground for the
supposition that they were the object of
the movement. The extent of the move
ment gave rise to some surmiSes of an
accumulation on large scale possibly for
the purpose of controlling Staten Island in
terests which was pointed to by the cur
rent rumorS, and there seemed to be an
effort to convey the impression that Penn
sylvania and Hartman interests We're OPP
posing or competing with this accumula
ton.
The Atchison movement had some SYM
pathetic effect on the general list, but the
largest response was confined to the
Southern and Southwestern corn and cot
ton carriers. The movement may have
been in part reflection of the govern
ment report on cotton. which had a con-
tinued influence also in inducing liquida-
ton in cotton.
Corn Cuts Figure.
The corn market did not reflect any
excess of confidence in that crop and the
reports of frost in the Northwest gave
rise to some fears that the cold would
not be confined to that belt. But the news
of the condition of that crop in the lower
portions of the belt conduced to a growth
of influence of the safety in that portion
of the crop, and may have been an in
fluence in the strength of Southwestern
railroad stocks. The tone of the recently
reported utteranceS of the secretary of
the treasury of the general business and
financial outlook has an encouraging eff
feet upon sentiment and his advocacy of
an emergency circulation favors the hopes
of the financial district for such a meas
ure. But the emphasis by the secretary
in his published statement on the deposits
being made of government money in the
agricultural districts had somewhat the
effect of an admonition against specu-
lative uses of these funds. ~.s
The forecast of the currency movement
of the week indicate a slight improvement
in favor of the interior, which, with the
weeks losses to the Sllbtreasury show
a probable decrease in reserve held by
the banks of SO, SOC, 600. There have been
some shipments to the South in connec
ton with the cotton crop moving, but the
movement on balance would have been in
the large special movement to Boston,
which seems to have amounted to over
81 900. 000 and is attributed to. New
York interest in copper affairs The com
plexion of the loan item is shrouded in
the usual doubt. The closing was steady
and very duh.
Bonds were dull and very firm and gov
eminent bonds continued to advance. To-
tai sales, par value, $755, 900.
Closing List.