The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-27
STOCK PRICES ARE up
PROFESSIONALS RAISE THEM, BUT
DO NOT GAIN VERY MUCH
Market Experiences Stagnant Condition
Much OF the Time, but Yields Little
Improved Situation at Baltimore and
Plttsburg Produces Encouragement.

NEW YORK, Oct. 26.-Professional
operators did not find much difficulty in
bidding up prices today, and their oper-
atoms made up the large part of the
rather limited stock market. They met
light offerings of stock as prices advanc-
ed. but they attracted no outside follow
ing to speak Of. Some buying by I'M
covered bear operators was induced. and
this helped somewhat the advance. In the
occasional pauSeS in the professional
operations on the advance the market fell
INTO mo, an almost stagnant condition, but
yielded little. The closing was strong and
not much below the best
Inc days news was not especially en-
SiouFaglng: and in fact offered several
doubtful factors. But the traders are in
cHned to argue that the resistance Offer
ca by last weeks market to the effect of
the failures in Baltimore and Pittsburg is
evidence of an underlying Condition of
strength. The failures at Baltimore and
FittSburg not only exercised an influence
OF their own, but they aroused a spirit
t FL SUSPICIOUS sp inquiry into banking and
trust company conditions as a whole
Other Failures Not Feared.
This makes it improbable that these
conditions have any surprises in store in
the banking world, and the operators in
STOCKS are encouraged from this to feel
CONFIDENCE that other failures would be
with as little effect in Wall street as
those which have already occurred Spe-
CHIC reports of improved conditions at
P1ttSburg and Baltimore also conduced to
Ine 1eellng OF encouragement The adj
vance IN prices was not affected by the
ADMISSIONS IN the weekly reviews of rail-
ROAD trafhc, now first made that the gen
eral traffic situation does not look SO
Strons as 1t did a month ago. This is in
strong contrast to the great condolences ev :
pressed by traffic officials over the future
OF business up to this time This week :
report re admits that everything is moving
IN IA hluch smaller volume than at any time
IN many months, and for the first time in
u long while some of the roads have
thelr freight solicitors actively at work
These reports come from sources that
nave complained hitherto that Wall street
was the only blue spot in the country
~ SoM Illst the evidence of depression
IS appearing at other points, Wall street
experiences the relief from having al
Ieauy gone through this process Of con-
10 4acIion. mere was also an appreciably
HIner market for time money TODAY and
can loans rose to per cent when he
lated borrowers supplied their needs New
York exchange at Chicago fell TO soc dis
oonilo ana attention is awake for the long
wards "e9b
Why the Light Decrease.
since July the New York subtreasurv
mas transferred only $780, 600 to CHICAGO
W ty. Tor the same period of last year
tnefe was transferred to that noinf To
the government Institutions Sc. 250. 900 A
eonIecturai explanation of the unexpected-
~ hgnt decrease in cash reserves last
wen - that IunQS nndlng investment In
ponds are withdrawn from trust com :
panles, deposits while the bond sellers are
depositing in the banks.
Today's speculat ton Conferred in Anal
gSamated Copper. which rose an extreme
81 Inc advance was based on much the
same KIND of argument as that in other
STOCKS, namely, that the harm from the
Montana litigation was discounted in the
previous decline in the stock. Renoffed
efforts effort s, to compromise the copper quarrel
we're also an element in the trading. and
it was argued also that the jumn in The the
price of raw copper which has resulted
Directly from the closing down of opera
tlonS by the Amalgamated properties.
might yield a handsome profit on .that
company's accumulated stocks. -''
Inc pond market continued broad and
strong Total sales of bonds, par value To-
day. $3.50, 900. United States IS and old
As advanced 4 per cent on the last o call all
CLOSING List.