The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-02
STOCKS ARE NEGLECTED
PRICES ABOUT MoTioNLEss MUCH
OF THE TIME
Quotations of Some of the Principal
Leaders Run Off a Point or More and
the Close is Heavy and Lifeless-Ef-
forts to Lift Prices Are Discouraged.

NEW YORK, Sept. Yesterdays in
creased volume of business was cut in
two today, the aggregate sales falling to
below a quarter of a million shares. The
most of this gain was done in the first
two hours of trading. Prices of a num-
Der Of the principal market leaders ran
off in that time a point or more. There
was recovery after that, but the market
fell into profound dullness and neglect
and prices remained almost motionless.
The closing was lifeeSS and heavy.
There was nothing in the news of the
day bearing on the reversal in the direc-
ton of the prices of stocks. 1t was &C
cepted simply as a demonstration of the
futility of the efforts of professional
traders to move prices upwards to any
large extent. A part of these efforts had
that the large financial interests were in
sympathy with the movement. There
wre operations in today's market which
were understood as intended to show that
the large banking and railroad interests
felt no approval of these professional eff
forts to advance stocks.
Market Supporters Sell Openly.
Brokers who have supportered the
market while professional bears were at
tempting to force declines during the
past week and who were supposed 10
act for great financial leaders sold open
ly today in different stocks around the
ROOM This led to the presumption that it
was intended to discourage efforts to lift
prices. An attempt to stimulate sDecula
ton on account of the mergency relief
held in readiness by the secretary of the
treasury is felt to be unwise and there Is
a feeling of diSapprOyal of any course
which would tend to create an emergency
in the money market by expansion OF
credits for speculative uses The tone OF
increased confidence over the money mar
ket on account of the provision of an
available fund in the treasury ready for
deposit in the banks is, however, undis-
turbed
The time money market has become
almost wholly nominal owing to the light
ness of the demand. but lenders are not
disposed to urge their funds upon bOr-
to move against New York. the discount
at Chicago falling to 40 cents today,
compared with 20 cents per thousand yes
terday. Interior banks which have been
in covering these receipts into the treas
ury, are doing so through the New YorA
SubtreaSury by orders on their New York
correspondent This is an indirect manner
Of currency shipments to the interior.
Where Views Change.
Yesterdays views of the transfer or the
underwriting syndicate's holdings in Met
ropolitan securities to other inside inter-
ests was decidedly modified e1day. The
rise in the local transactions yesterday
helped the advance elsewhere and to-
days sharp reaction in those stocks was
of corresponding sympathetic effect. Wan
street was inclined today to regard the
operation rather as a withdrawal of i'm
portant interests from the company than
as a measure looking to further con-
solidation of interests. is was the case
yesterday. The weather bureaus report
was not considered reaSsuring either as
to cotton or corn and the market also
reflected bullish sentiment. The very ia
vorable July statement of the Reading
railroad was made the occasion for
profit taking in the same way that other
recent good showings have been. The
continued realizing in Amalgamated Cop
per also had considerable sympathetic
nfpAa fII1s HOY 6NrlF il
sterling exchange on demand for remit.
lance by tomorrow's steamer, but that
market reacted slightly when this de-
mand was satisfied.
The bond market was dull and irregu-
lar. Total sales, par value, $1,205. 900.
United States IS, new As and 5s advanced
a per cent on the last call.
Closing List.