The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-15

NEW YORK, Sept 14-The course of
today's stock market was shaped by a
number of adverse factors, chief among
them being the reported damage by
storms In the spring wheat regions and
frost in the corn belt. Lower prices for
international securities in London, where
conSclS were again depressed because of
the political situation in Eastern Europe.
also gave a setback to the list, which
opened generally lower, the new initial
advances having no apparent Significance.
Missouri Pacific displayed the greatest
weakness of any stock at the outset,
thongh only trif1e heavier than Atch-
lson, Reading. st. Paul, Union Pacific and
a Am al hrate . Copper Steel Common
fairly good support and recovered
There was a story current that the sec
ond steel syndicate which some time ago
converted 5000, geo. 600 of preferred stock
into $250, 900. 900 per cent bonds would
soon make another demand for a consider
able sum on the underwriters, but this
could not be confirmed.
ST. Paul Off Over a Point.
reactionary tendency was shown by
the list before the end Of the first hour.
special pressure being once more directed
upon Brooklyn Transit as well as against
Reading and st. Paul, the latter receding
over a point The heaviness of st. Paul
was attributed to reports of Northwest
came from Chicago. and was accepted
with reservation. The afternoon session
OF the market was noteworthy one for
the increased weakness in the last hour
of such stocks as Atchison, Reading,
Amalgamated Copper, ST. Paul, Missouri
Pacific. New York Central, Rock Island.
Southern Pacific and Union Pacific The
selling Of Reading and Union Pacific was
said to come from practically the one
source, but was unexplained London
bought from 5000 to 5000 shares on bal
ance. Among the stocks sold for account
of that center was Mexican Central. The
sixth fnStallment of the so, 900. 900 Trans
Vaal loan is payable in London tomorrow.
In the final trading the local market dis
played further weakness, Union Pacific
being especially heavy. The break In
Southern Pacific was partly explained by
the companys July report. which showed
deficit after charges of $673 000. The
market closed active and weak.
Currency Shipped Away
An interesting development of the
financial situation was the renewal of
heavy shipments of currency to New Or
leans, which took from the banks $780,
600 through the SubtreaSury besides addi-
tfonal sums of direct shipment The
movement now well under way always
takes heavy sums from this center and
because of the excessive speculation in
cotton is likely to assume unusually large
proportions this year. The fact that the
Southern demand will be coincident with
that from the West may prove embar-
RAISING for the New York banks, although
1t will be several weeks yet before the
total withdrawals can be accurately esti-
mated. Foreign exchange was slightly
weaker, ruling few points below Sat
urday's level Of $4.S6 for demand. Rail
road earnings out today included Balti-
more e. Ohio, with net increase of 1921, :
600 for August. and the annual report of
the Missouri. Kansas & Texas road for the
fiscal year showing surplus increase of
$191, 900.
The bond market showed some irreg-
utarity, but the speculative issues declin-
ed in sympathy with the weakness of
stocks Total sales. par value. 81, 255. :
O0O United States Is declined u per cent
on the last call