The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-28
STOCKS FAIRLY STEADY
BUT THE RUN ON ST. LOUIS BANKS
CAUSES UNEASINESS
Early Advances Are Wiped Out in Short
order-The Desire for Profit aking Is
Very conspicuous-Mining Situation in
Montana Is influential

NEW YORK, Oct 27.-About the time
when professional operators were in the
midst of their selling to take profits on
the considerable advance of yesterday
and today, Wall street was Hooded with
alarmlSt Tumors Of financial troubles in
st. Louis. This had the effect of some
what accentuating the inclination to sell
Statements We're published before the
closing that some OF the smaller class of
deposTtors had taken fright and were
Withdrawing deposits from some of the
banks and trust companies in ST. Louis,
but expressions of confidence We're quoted
that no harm would result to the institu-
tlonS aneeted. The stock market in con-
sequence was fairly steady, although the
early advances were generally wiped out.
1t was obvious from the outset that the
considerable demand for stocks was he
ing freely fed for purposes of proft-taIl-
ing 1t IS difficult to say, therefore, how
Tar the ST Louis development may have
been responsible for the reaction
Sentiment in Wall street is sensitive
over the question of trust company condi-
lions and even so small an incident as the
report OF run on country bank in
Wisconsin, Which was started by ru-
NOR that the bank had been investing in
railroad securities, was made the subject
OF investigation, illustrating the public
dlSquiet. The reactionary tendency of
the market was capable of other explana-
tons. For one thing, the very small out
side demand attracted by the advance
managed by. professionals served as a
warming to that class of operators to re-
strict their ventures The dominant in
fluence of the movement of Amalgamated
Copper on the market also shifted to the
side OF reaction today. The open house
discussion of the parties to the Mon
tana copper quarrel made it apparent that
the propositions for arbitration did not
make for probable settlement.
Loss In AmaIgamated.
The opening price of Amalgamated was
the highest at shade under a point over
last night, and the stock closed at a net
loss OF nearly point. This movement
was quite decisive in shaking professional
sentiment on the whole market A con-
siderable part of the early demand was
credited to London account. The days
was another factor of reaction. The days
total transfers through the subtreauSry
OF $l,15O.JO0, there We're $3.50, 600 sent to
New New &C Orleans. 100000 to Chicago and
cago was of large Withdrawals from there
by country banks and New York ex-
change at that point fell to rs cents dis
count. This probably marks a beginning
New Y ork
The local money market was inclined to-
harden. At the same time sterling ex-
cnange yielded. Large offerings of cot
London purchases of stocks here helped
this result. London's favorable attitude
TO this market was due to the beginning
or the stock exchange settlement, which
revealed a considerable short account in
Americans. There were some wide move
mentss in special stocks, notably a rise of
l054 IN EVansY1lle & tTerre Haute and a.
drop of Ia in Keokuk & Des Moines,
neither of which was explained
There was a continued good ABSORPTION
OF bonds, but some of the more Specu-
.latlve issues. reacted in sympathy with
STOCKS; Total sales par value, 81, TIC, 900.
United States IS, IS and the old As adj
vanced Il per cent on the last call.
CIoSinu isf