The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-10-15

NEW YORK, Oct. 14.-Attempts on the
part of professional traders to advance
stock prices today were disturbed by the
development OF a number of weak points
in very much the same manner as yes
terday. The advances which were achiev-
ed were in consequence generally wiped
out, and the last prices were below last
night as a rule. The strength in the
early dealings was helped by the higher
range OF prices in London where the
financial community felt great encourage
ment over the prospect of averting hos
tllItles between Russia and Japan
The stock market situation at Pitts
burg was much improved today and mar
ket values of Crucible Steel preferred
went far toward repairing the damage
done by yesterdays panicky break The
responsive pressure upon United States
Steel preferred, which affected that stock
in yesterdays market, was relieved in
consequence. The official denial OF some
OF the disturbing rumors regarding the
business of some of the Industrial cor
porations indicated the activity of bear
manipulators in disseminating the ru-
mors ana prompted to some recovery.
Canadian Group Is Hit.
The break in the Canadian group of
stocks offered the first interruption to
the advance, and served to add to the
anxiety caused by yesterdays rumors of
financial difficulties in Montreal. The eff
feet on the general list was not very
marked and attempts We're made to con-
test the reaction. The market was with
out any animation, however, after this
development. Later in the day the weak
ness of Amalgamated Copper overshad-
owed the whole situation This stock was
nfted point in the early dealings. and
reflected quite an active speculation based
on tomorroWs dividend meeting. The late
caused all sorts of surmises about to-
morroWS dividend action The weakness
of the American Smelling stocks seem
ed to be associated with that of Amalga-
mated Copper.
The violent break in the American Car
stocks toward the close of the session
also had an unsettiing effect. The com
mon fell 3ss, and the preferred AZ The
premium Commanded by these stocks in
the loan crowd this morning indicated an
over-eXtended short account and the COW
ering by the bears rallied them in the
early market. The effect upon sentiment
of the later break was correspondingIy
greater. owing to this supporting infiu-
ence Of the market. No news developed
regarding the property.
Efforts at a Rally
Several attempts We're made to raIIv the
market after the various points of weak
ness had developed One of these took the
form OF the bidding up of the Vanderbilt
group. This seemed designed to give the
impression that the leading member of
the family in control, newly returned from
abroad was buying the stocks. But their
subsequent release pointed to the move
ment as traders device. There was a
buying movement at one time in Reading
also. The resumption in the hearing Of
the United States shipbuilding suit seem
ed to exercise depressing effect on the
trading The days returns of railroad
earnings We're generally favorable and
the decline in imports, and the CORE
spending benefit to the country's favor
able trade balance, as reported by the
bureau OF statistics in the September for
eign trade return. indicated favorable
factor in the exchange situation. But
these considera tons failed to hold the late
market against reaction
United States Steel bonds rose 81 at
one time, but lost practically all of the
gain. The bond market generally was
unimportant. Total sales. par value. 81
$4,000. United States bonds We're un-
changed on the last call
CLOSING LIST