The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-30

stocks were hardly more than nominal to-
day. the aggregate transactions barely . eX-
ceeding a quarter of a million shares Inc
trading in Amalgamated was far In excess
of that of any other stock, and it was the
only stock of any prominence which
showed strength. In the early dealings IT
got ia over last night and had some sus-
tanning effect on the general list. The
business elsewhere proved too much or a
weight for it to carry and its maximum
rate was not held. 1t closed today, how
ever, at net gain of ", haYlng held
firmly above last night throughout.
The drop in the general market carried
number OF the leaders about a polnt
below. including st. Paul, Union Pacific,
ware & Hudson and Louisville & Nash
vile. The iron and steel company stocks
and the railroad equipment stocks also
showed various declines of from L to
points. The buying of Amalgamated was
attributed to the coming meeting at Butte
of mediation committee, with the pur-
FILTERED quarrel among the copper in
tereStS.
Due to InactIon.
The sagging tendency of the general
market was due to inaction rather than
to any positive pressure to sell. Traders
are little disposed to extend themselves in
face of the hardening money market and
The unknown extent to which the with
drawals of currency from this center may
extend. Telegraphic transfers through
the SubtreaSury were over a million dol
lars less than yesterday, but they still
reached the respectable total of $1,S75.
0O0. OF this amount $S25, 900 went to ST.
Louis. 100000 to Chicago and $3.50 600 to
New Orleans. There is a disposition to
account for the movement to Chicago
wholly on the ground of the sudden de-
velopment OF the long delayed crop NOV
ing demand, but there is authority for the
belief that st. Louis has made drafts on
Chicago for which Chicago is recouping
itself by drawing on New York
The tightening of the local money mar
ket sent sterling exchange downward with
of the gold import point demand, sterling
breaking to below ass, but with slight
recovery at the last. Cotton bills were
again In free supply, and the outward
weekly statement of the Bank of England
shows gain in gold for the week Of
nearly 100000, but It is probable that
any demand from New York for gold
would meet with resistance, as the de-
mand from the continent is keen. The
weekly statement of the Bank Of France
shows a decline of gold holdings of nearly
Two million dollars. while that institu-
TONS loan account has been expanded
over twenty million dollars during the
week.
How About Bank Statement !.
Last weeks emergency shipments Z Of
currency TO. Baltimore and Pittsburg
failed to-. find any reflection in Satur-
days bank statement, This is a condi-
CiAoS uSuoiy IcSuiIS III lITOWIHS over
the showing into the statement for the
following week This weeks heavy outgo
of currency may. therefore, be reflected
IN aggravated form in Saturdays bank
statement. There were some rumors cur
rent on the stock exchange of tendency
to spread of the spirit of distrust aroused
In St: Louis These rumors were not VERT
fed. but they had some influence of senti-
ment. The favorable reports of Septem-
Der net earnings by the coalers caused
some resistance to decline by those stocks.
The closing was steady.
The bond market was affected by the
decline in stocks and the rising money
market and was inclined to be heavy.
Total sales par value 81, 165, 600. United
call.