The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-10-18
STOCKS MOST ACTIVE
EVERY HOUR OF THE SESSION is A
u "a BUSY ONES
Resources fors Recording Transactions Are
Taxed-Laraest Operations Are Con-
Quoted According to a Fixed PIan-cIose
Is Lower

NEW YORK, Oct 1.-THE animation
which grew up in the speculation in the
latter part OF last week showed further
increase today. From start to finish of
the session of the stock exchange there
was practically no cessation of the active
business on the floor. which taxed the re-
and kept the faculties of the brokers at
a tension throughout the day. Large
crowds were trying to do business at the
same time at the post where the fayorite
active stocks were dealt in. While great
confusion was. apparent at all times, the
record of the days results shows that the
market was under intelligent direction and
that the largest operations were conducted
according to a fixed plan. The oppor-
tuneness with which the heaviest buying
and the strongest advances; occurred with
the most important selling at other points
was evidence of the skillful leadership
existing. The days movements, to that
extent, had an artificial character.
But the speculative following in the
market has evidently lost much of its
dread of this experienced leadership and
artificial device in the market, which have
advance which preceded the growing in
terest 1t is perceived that a skillful con-
duct of the buying and selling facilitates
the digestion Of the selling and the adj
vantage of the buying even in a healthy
and normal market. The growth of the
number of participants must be accepted
as an index OF the increase Of the faith in
the health and the naturalness of the
present market. The dealings on Monday
are especially relied upon to disclose the
proportions of any new interest, owing to
the natural tendency to open new, transact
lions with the period of a new week, the
amount of weekly reviews and letters that
go out of Wall street from commission
houses or for. publication, and the addi-
tional accumulation of orders that results
from the two day interval over Sunday.
Hope Is Realized
Last weeks buoyant close gave general
homes of a largo ijfcre9 GO in Siicfl new mr.
ders, and the market quickly demonstrated
that the hope was not disappointed. The
selling out to take speculation profits on
the advantageous terms afforded by this
new demand was equally matter of
course. The new buying came from many
different quarters and an important pro-
most notable buying and the greatest
strength were in United States Steel pre-
ferred, and to less extent in the COM
mon, in Reading, Missouri Pacific, Anal
gamated and less effectively in Pennsyl-
vania and Erie. Next to these points of
strength the most notable feature in the
market was the manner in which the
selling to take profits held back and even
depressed Union Pacific, Southern Pacific,
Rock Island, St. Paul, Baltimore & Ohio
and Norfolk & Western. Louisville &
Nashville made no such demonstration as
on Saturday, and after its opening adj
vance of 1B it was under pressur.
throughout
There was no specific effect from th
news developments of the day, excep
as they offered nothing to disturb the con
fldence which has reached the proper
lions of enthusiasm with the outburst of
the speculative spirit. Money continued
easy and no one was heard to express
fear that it would not do SO indefinitely.
Railroad officials express themselves in
sanguine terms over the outlook for traffic.
Sugar was marked down and copper was
marked up Sterling was strong and the
continental markets We're somewhat dis
turbed by the Russian reserves. The
profit taking had its greatest effect in the
last hour of the market and made the clos
ing irregular and considerably below the
best prices
Bonds were strong Total sales, par
value, $10.005,0 900. United States bonds
were unchanged on call
Closing Sales