The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-12-02
INCREASE OF ACTIVITY
COMES TO WALL STREET.
PRICES GENERALLY HIGH
Err AT THE CLOSE.
Manipulation Plays Part in Days
Proceedings. but Its Pur-
poses Are Obscure.

New York, Dec. There was consid
cradle increase of activity in to-day's
stock market. and IL generally higher range
of prices resulted at the end of the day.
The movement continued hesitatlng and
somewhat irregular, and the small net
changes resulting in some of the more
active stocks left 4 suspicion of profess
sional manipulation. Even the purpose of
the supposed manipulation was a subject
of doubt and dispute. covering such vary
ing suggestions as professional move-
ment against the shorts. the bidding up of
prices for the purpose OF marketing long
stock, and even Il purpose on the part OF
the bearish professionals to make mar
ket for putting out fresh short lines Spec
ulatiVc sentiment over stocks was equally
confused. Theic was little in tho actual
news of tho dav to favor m advance In
prices, and some of the news was dis
tinctly unfavorablc; The report of net
n decrease of SS7575s compared with the
preceding year. This was without effect
on the market. partly because 1t had been
10 the loss and interruption of traffic by
floods.
PARTLY OFFSET,
1t was partly Offset also by the Reading
statement for the same period, which
showed an increase in net earnings of all
the companies of S67S.5Ia. The general
tendency disclosed in other statements of
earnings recently has been for increases in
gross, earnings. to he mostly or wholly
wiped out by enlarged operating expenses.
The reports of gross earnings for the third
week in November thus far published
show an increase on the average of less
than per cent. although the returns from
the coalers are not included. and this
group will compare with large earnings
last year.
The passing OF the dividend on Re-
public Steel. although it had been feared.
had not been fully assured. and. consider
ing this. the effect in the industrial list
was slight. That stock itself fell an ex-
There was reduction in the price of
Copper in the local market. The money
market continues firm. but the high rate
for call loans reached only y. per cent.
compared with per cent yesterday.
TRANSFERS OF MONEY.
The expected transfer of $1.0O.000 by
telegraph to San Francisco was made.
and. in addition, 100000 was transferred
to New Orleans. while New York ex-
count. The price of gold rose In Lon
don and sterling exchange weakened here,
but only 100000 was secured in London for
New York account: Announcement was
shipped to San Francisco. The factors
in the advance were in the form. rather, Of
surmise. the old rumor of a GOuld-Fenn-
syIvania settlement figuring to large
extent The strength of Southern roads
was attributed to general conditions. such
as the prosperity Of the Cotton Belt and
the harmony of railroad control assured
by the recent Seaboard Air Line deal.
There was an attempt to convey the i'm
preston that large bankers and capital
lists had been absorbing stocks in the
midst Of the prevailing depression of SEN
timent. looking beyond the probable re-
vival. The market closed firm.
The bond market was broader, but
rather irregular. Total GALES. par value.
were $3,S54,NO. United States % advanced
~ per cent on the last call.