The St. Louis Republic., 1904-09-27
STOCK MARKET DISPLAYS
STRENGTH AND BREADTH.
UNITED STATES STEEL
LEADS THE ADVANCE,
Railway Earnings Show Improve
ment Encouraging
Speculation.

New York. Sept. S.-Both strength and
breath were manifest in the dealings in
stocks to-day. and The market as a whole
represented clearly q revival from the
dropping tendency of tine latter part o:
last week.
The strength and activity were not 50
much congested in special stocks as re-
Gently and the market had a certain ap-
pe4rancs OF quiet for the greater part Of
the day. This was accounted for b. the
fact that the opening rrices represented
a large part Of the gains and prices Of The
prominent stocks were -precdcaiy mo-
tionless 'or a long tirEe after the cpen-
Sng. Less prominent stocks were sought
out meanwhile to bring them up to q level
proportionate with the leaders.
the crops and prices in the commodity
markets moved downwards. This was a
reassuring influence on the whole list.
adds materially to the feeling OF security
over the crops. owing to the near ap-
proach Of the period Of maturing OF the
corn crop.
Z. 8 STEEL LEADS.
The leader OF the market in point of
activity was United States Steel preferred
and its strength was Of sympathetic ad-
vantage to the general list The pro-
fessed motive for the buying was a con-
vfct1on that the full dividend on the pre-
ferred stock Is sure to be distributed No
authority could be cited for this assump-
, ton.
ltrons in sympathy. The news from the
ytrade offered nothing to explain the
strens Of this group.
omeials Of trunk lines Of railroads ad-
parent halt IN the expansion Of freight
trafic, which was attributed to the effect
Of crop uncertainties on trade: and to
Western railroad ofncials expressed dis
agreement with the low estimates Of the
corn crop current In Wall street last
ing effect on business until the crop out
look is more definitely assured.
There was SIN an important influence
accumulation Of Atchison in the interest
Of Union Pacific. but more was heard OF
auestioninss Of the scope OF the plan Of
ress-making in the working out Of the
problem Of ultimate control and har-
monization Of tho transcontinentaI rail-
road situation was accepted a. important
and made that whole group conspicuous
In the market
RAILWAY EARNINGS
Gross earnings of railroads for the third
week Of Sept were received in quite large
numbers and were quito generally salts
factory to holiers Of securitiee. Atchison
was doubtlessly helped by the preliminary
circulation of its favorable annual report.
a. well a. by the report OF accumula-
ton Of the stock for Union Pacific.
The profit-taking made some impression
on prices In the last half hour. which
q number Of Iow-priced railroad stocks
were pushed upwards to cover the selling.
There was no change in the rate OF In
terest. but sterling exchange was hrmer.
and tho price OF gold in London was
lowered. indicating less apprehension OF q
demand for gold in that center.
Na2s.OO0 United states .. the 50 and the
old Is advanced " per cent on call
The Metal Market.
New York. Sept 3.-The London tin mafket
closed at flss rs Sd for spot and fra = "a for
fature.: Locally The marie, Mss 2 nt,Ie lower
future "a The London market. and remained I'M
8 :s: @ 4; 81 snsssr sss
g .ss market. sas was and ss II 4. q q IL
ssn Iss Se y, sd q s Al Sc . g q nd E s
q lossd in Midelesboro Locally iron was un-
s.. a ssH q: So; no. ieandrS Norihern ss sis.sa
nI:; No. foundry sSushsrn snss and No. foundry
New York Curb Market.
REPUBLIC SPECIAL
.,. fairly s,ss g.iS. ch.aSss sss sr1s1sy
vas the prominent feature. advancing from 1s
g lsS On purchases Of $500 shares. No!thern
~ to 1o4H. American C4ne were nrm. the
esminon selling at 81 and ~. ana the pre-
1eEred at ls5x and e. Seaboards were strong
md higher On manipulative orderA The com.
non opened n l5h and advanced % Ia. ane
- from 5SK to 3ek- American To6acco = were
eAded In at Jos and 10sk- Inferboeou{n X q.
s:sndaId OF al 10. ] Hefcsnsile Marine bends
- 7y075k:
New York Money Market.
New York. Sept e.-Money on call hrm;. II
pr cent: closing bid Per cent: offered af
~; : ; da;s 's ~ pen per cent: monfS 3 ! -
'2{4 r.ms msrc.ntils page. gtes pr cent:
- bankeTT bills At lss7bo4 $50 for demand and
~ le1040S for ep-day bills: posted rafee
AD4-elS and l-ee50A0; commercial bills & Els
~: Asxican doIian i.ke: Government bonds
-: railroad bopds arm.