The daily morning journal and courier., 1903-10-01
Eiata,tria1.
YESTERDAY's STOCK MARKET.
Most of Y...srday,. Cain. wiped ou,,


 Most of Yasterday's Gains Wiped ons. | New York, Sept. 30-Stock market operators showed lack of confidence in the market to-day in the absence of the large buying by the great banking interests which supported prices yester- day. The brisk upward movement at the opening in continuation of yester- days movement gave place to duilness and habitation. followed by slow downward movement and ending with decided weakness and a, drop which wiped out good part of yesterdays gains. News developments were quite without influence on the movement and the entire interest of the country een- tered on the question whether leading banks and capitalists of the country would continue to load buying move ment and whether the urgent liquida- tion to secure relief from enbarrass- ment caused by over-extension by vari- ous syndicates and capitalists was f1n- ished. The opening advance was much helped by the more cheerful tone in London.
 It soon became manifest in the course of the animated trading of the first hour that stocks bought yesterday were being sold to take profits. The selling of the United States steel second 5's on the ? point rise was especially conspicu- ous and caused fear that 1t had been marked up to market holdings. The re- newal of those urgent pressure against Pennsylvania completed the discornfi- ture of the newly-formed bull sentiment and turned the tide distinctly down. ward. Pennsylvania fell 5-S below last night, and a number of the other market leaders as much as 2 points, while the general run of the market was 1 to points lower than last night. The closing was heavy and without ef- fective rally. A feature of the days news was the payment by the sub treasury of over million dollars on account of gold received from Australia and deposited at the San Francisco sub- treasury Redemptions of United States 5's and the government interest payments due tomorrow were further assurances against any immediate lstringency in money. Sterling ex- change weakened owing to the convic- | tion that the belated crop movement will soon make an abundant supply in that market. The decision of pig iron producers to reduce, their output for October 20 per cent. was not percep tibly awakening factor, and is, in fact, regarded as a factor towards stability | in the market. The decision Of the Uni- l. ted States Steel corporation finance committee to guarantee the redemption of it's preferred stock at the end of five years at the price subscribed for by it's iofficers and employees was not known luntil after the close of the market. The abestract of the reports of condition Of all the national banks on September g, given out at Washington to-day was considered disappointing in it's showing of a loan increase of $66, ,401, ,021 from June 9 to September g. with decrease for the same period in individual depos- its of $44, ,010. The increase in cash holdings for the same period amounts to only a little over two million dollars. Compared with last year, however, the cash on hand in the redemption fund and due from reserve agents was 26.89 per cent. against 25.74 on September 15 of last year. .- The bond market was irregular. To- tai sales par value $3,S40. 1000.
 ! United States old As declined IA per cent on the last call.
 NEW YORK STOCK MARKET.