The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-04-24
"H0OD00" SUCCESSFULLY
ROUTED IN WALL STREET.
OPENS WITH UP
WARD TREND OF PRICES.
Proft-Taking Begins Early and
Part of the Gain Is Lost, the
Close Being Dull.

New York. April 3-Members OF the New
York Stock Exchange were anxious TO in
augurate the trading in their new building
with an upward movement OF prices. for
the same reason that an experienced nurse
wishes TO carry 4 newborn baby upstairs
before Il shall take a d~Ownward trip Pro
fessional traders in stocks are proverhially
rich in this kind Of wisdom. and they be-
gan preparation for this mornings demon
StratiOn during the days session in the lem
porary quarters: IL was even suspected that
some OF yesterdays operations on the con-
solicated exchange during the festivities in
Cicent to the dedication OF the new stock
Exchange building were for account OF
with the purpose Of furthering the proper
start In the new quarters this morning. Ap-
Sufficient to satisfy the solicitations that
the 'hoodoO' which has popularity been sup
posed to hang over the market since the eN-
change has been in its temporary quarters
has been shaken on.
RISE is TEMPTING.
At all events, the rise in prices proved too
tempting for those long OF stocks TO resist.
and they began to relieve themselves OF
their holdings and to realize profits. The
most notable effect Of this turn OF affairs
vas the profound dulIness which II pro-
.cy of prices also resulted. which gradually
wiped out the considerable gains estab-
lished during the first hour and forced prices
10 a level generally below Tuesday nights
closing. h immediate cause OF this de-
cline was not clearly DeTceptible. but IL
seemed due in large part TO a distrust OF the
and the background offered by the possibil-
ity OF further eNtenSive antitrust campaign
Immediate influences were favorable TO an
advance.
The money marke: gains in case each
day. and six months loans are negotiated
below ; per cent without difficulty. New
York banks are in the market for CONNER
cial paper for the first time in several
months. and they are making the minimum
- - - -A-s c. L. 49,. -.
reported for a nine months period at . per
cent. while up to the present time lenders
have. avoided extending their accommoda-
ton into the autumn period Of increased de-
mand for money. 1t cannot be said. how
ever. that confidence is universal in the
quiet passing Of the autumn period.
BANK RETURNS.
The April 2 returns Of national banks TO
the Comptroller. so far as reported. show a
lower percentage Of reserves to deposits
than for either February s. the date of the
preceding call, or for April -. which is the
nearest corresponding date last year to the
present call. This showing increases the
disposition TO tie cautious IN money matters
until the autumn situation clears up. or
to-days special that in Reading
was based on the ending of the lockout
Rock Island showed evidence Of absorption
attributed TO insiders. \ sharp advance in
Securities on the curb resulted
from yesterdays declaration OF the quarter
y dividend at an unchanged rate. Buying on
= large scale or the National Railroad OF
Mexico stocks was explained as being due
10 the considerable rise in the price Of sill
yer and the consequent fall in Mexican eN-
change. Consolidated Gas jumped on the
defeat OF the municipal lighting measure in
the State Assembly. The sympathetic ef-
fect OF these dvances was lost when these
stocks began TO react The market closed
duh and heavy.
There was a quiet demand for the newer
issues OF bonds especially. the four per
cents selling in the sos and COS. Some OF
the higher grade bonds were slightly lower.
Total sales par value. S.s75ccO. l.. s. "a
and old IS Eec.GrGd :. Fer cent and the ga
half per cent. The new IS advanced a
per cent on the last call.
New York stock Quotations.
St. Louis. April 1.-The following shows the