The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-09-17
SELLING IN STOCKS
CROP DAMAGE REPORTS HAVE
STRONG INFLUENCE ON MARKET
Steel Securities Are Again Conspicuous
for misunderstanding Movement Is Re-
ne~ed for Western Aecounts-List De-
cIines at First, but Becomes Steady.

NEW YORK. Sept. 1.-THE same in
huences that have dominated the stock
market for some time past were again
IN control today. The crop situation con-
tinued TO be the paramount issue and out
OF the mass of sensational rumorS and
reports recently circulated it is at last
clear that serious harm has been wrought
to crops in certain sections of the North
west. From Georgia and Alabama came
reports today of damage to cotton by
nlgh winds and heavy rainfails.
notewartggv curing FUR the early session was
taking a leading part. AS in the early
week the steel securities Were again con-
common stock and the 5 per cent bonds
declining to new low levels Sales of
1 poIloS were very heavy, transactions for
erably more than one-half of opera tions
Ior that period in the bond department.
Decfnes IN the list were general at the
outset, but the tone soon changed to rel
ative steadiness.
Storm Checks Business.
AtchiSon seemed to be taken up quietly
and Union Pacific and another one of the
Few stocks that offered resistance to
the early selling pressure. Commission
houses reported little business and out
or town operations were doubtless curtail-
ed by the storm. which caused serious in
terruption to all Geographic service The
Speclalies We're almost entirely neglected,
notable exception being International
5 per cent below the last recorded sale.
Brooklyn Transit registered a 21h per
cent loss, but later made almost complete
recovery At midday the market was al
most at standstill.
A rally In no sense proportienate to the
early decline soon followed on buying at
tributed to important local interests but
support was still lacking in the steel is
sues. the common selling lower than in
the morning, while the bonds continued to
pc pressed for sale. Sugar, which has
taken place in the inactive list, was
sold for Boston interests, 1t is said. The
steady tone of the late afternoon was
more attributable to short covering than
to any real buying demand.
Steel Bonds Recover.
The steel bonds more than regained
their loss OF the early part of the day.
The local money situation continues nm
changed. It Is estimated that the banks
of the week.
There is partial Offset to this here in
Australian gold imports, another ship
ment Of $1-50o,o00 being now on the way
to the Pacific coast. Bankers believe that
because Of the easy rates for call money.
anticipate the $3,500.000 interest due on
bonds Oct 1. Foreign exchange showed
more stead1ness at slight advance. The
only railroad returns Of importance was
that Of the Minneapolis, st. Paul & Sault
Ste Marie road for Its fiscal year. Net
earnings show an increase of $236. 900,
with surplus increase of $l7S.000
The bond market was slightly lower
this morning, following the sharp break in
United States Steel second 5s. The tone
improved later, but the closing was some
what irregular. Total sales, par value,
$1,610.000. United States Is coupon ad-
vanced 1 per cent ON the last call.
CLOSING IeS