The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-12-08
STOCK MARKET IS HIGHER
ON PRESIDENTS MESSAGE.
MILDNEsS REGARDING COR
PORATIONS GIVES RELIEF.
Railroad List Suddenly Receivers
Activity and Sentiment All
Appears Stronger.

New York, Dec ALI the interest In to-
days stock market UP to the last hour
was confined 10 the movements of Il few
specaltIes. These served to hold the mar
ket firm despite the dizziness OF the trad
ing elsewhere in THE list. until the time for
the publication of the Presidents message
Immediately upon the appearance of that
document the market took on strength and
animation and advanced comprehensively
The railroad list. which had lain inert up
to that time. came into the upward move
ment and the prominent active leaders
made gains of point or more. st. Paul
and Missouri Pacific gained nearly points.
The professional traders. who did most Of
tne buying OF stocks, gave us their motive
their opinion of the conservative tone of
the Presidents message in its treatment
OF the problem of corporation regulation.
GOLD ENGAGEMENTS.
1t was not until late in the day that the
extent of the engagements Of gold in Lon
don for import became known. These foot
ed up over $4,000. For the greater part
Of the day the active speculation in Anal
samated Copper predominated in the W ole
market. The buying oil this stock was pro-
fessedly based upon the so-cailed fair-trial
phi III Montana, but the personality OF tho
brokers' employed In the buying also had Il
strong effect upon sentiment. being taken
To show Il revival of activity on the part
OF the interests long dormant in that stock
The unremitting protit-takng in Brooklyn
Transit. which went on throughout the
uay. was highly significant in the same re-
Iation. BESIDES these two stocks. United
states Steel preferred made up the greater
part OF the remaining activity. but 1t made
littie Roadway toward advance until the
final upward movement.
Inc speculative sentiment at the OPEN
ing was apprehensive of reaction after
tho action of the market at the end Of
last week. The heavy tone of the Lon
aon market helped to make the early deal
ingS uncertain.
PRESSURE RELIEVED.
Tho pressure of profit-taking in the gen.
eral list proved light, however, and gave
color to the superstition that the heavy
demand last week to cover shorts had
been pretty effiectualiy taken advantage
or to realize profits by the longs, thus
leaving speculative commitments largely
reduced for both accounts and the market
comparatively free for fresh initiative.
The confident tone of the annual report
OF the Controller of the Currency as to
the safe passing Of the fall money crisis
had q cheering effect upon sentiment. Call
highest rate being 6,s per. cent. with a
later drop to almost nominal rates. 4 re-
acuGn in the cotton market was also re-
garded with satisfaction. Heavy ship
mentS OF currency to New Orleans on
Saturday and to-day were neutraiized In
their effect by renewed force OF gold-im-
port movements. The reports to hand of
railroad earnings cannot he said to have
creases both of gross and net earnings
showing an unmistakable growing tend
ency. ,Amalgamateds final rise to points
over Saturday kept the closing firm.
par value. were ss.o0o.ooo United States
bonds were unchanged OH the last call