The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-27
REVIVAL IN STOCKS
MARKET SHOWS BOTH STRENGTH
AND BREADTH
Activity and Firmness hrs Better Dis
tributed Than of Eate-ADsencs OF
Alarming Crop News Has a Reassurina,
Effect

NEW YORK, Sept. 26.-Both strength
and breadth were manifest in the dealings
In In, stocks today and the market as a
whole represented clearly a revival from
the dropping tendency Of the latter part
OF last week. The strength and activity
were not SO. much congeSte6 in special
stocks as recently and the market had
an appearance of quiet for the greater
part of the day. This was accounted for
by the fact that the opening prices rep
respented large part of the gains and
practically motionless fora long time
after the opening. Less prominent stocks
were sought out meanwhile to bring Them
up TO a level proportionate with the lead
ers- There was no alarming news COM
corning the crops and prices in the COM
modify markets moved downwards This
was a reassuring influence on the whole
list. Every day which passes without
damage adds materially to the feeling
of security over. the crops owing to the
near approach of the period of maturity
OF the corn crop.
The leader of the market in point Of
ACTIVITY was United States Steel preferred
ana ITS strength was of sympathetic adj
vantage to the general list. The pro-
victfon that the full dividend on the pre-
ferred stock for the current quarter is
sure to be disbursed. No authority could
6e clted Tor this assumption. The in
dependent- steel stocks We're strong in
sympathy The news from the trade of
Iered nothing to explain the strength Of
e., TINS iSro Group 70 Officials Of trunk lines Of
railroads admitted some disappointment
at the apparent halt in the expansion of
freight traffic, which was attributed to
the ERECT of the crop uncertainties on
trade and to the slow rate Of revival in
the steel trade.
Think Corn Estimate Too Low
Western railroad officials expressed dis
agreement with the low estimates of the
corn crop current in Wall street last week,
but they also admitted the retardine ef-
feet On business until the crop outlook
Is ls;,1 more dehnlteiy assured. There was
SUN an important influence on sentiment
by the assertions of large accumulation
O.. Atkinson in the interest of Union Pa
cine. but more was heard Of questioninss
or the scope of the plan OF accumulate
me indications of progress making in the
controi and harmonization of the trans
continental railroad situation was accepted
as important and made that whole erourS
conspicuous in the market.
Gross earnings of railroads for the third
week or September were received in quite
large numbers and were quite generally
satisfactory to holders of securities. Atch-
1son was doubtless helped by the prelimi.
nary circulation of its favorable annual
report as well as by the reports of ac-
emulation of the stock for Union Pa
cific. The profit taking made some i'm
preston on prices in the last half hour.
when a number of low priced railroad
STOCKS were pushed upwards to cover the
Selilng. There was no change in the rates
OF interest, but-sterling exchange was
nfmer ana the price of gold in London
sion of demand for gold on that center.
Bonds We're firm. Total sales, par val
ue, $4.025. 600. United States Is, the "a
and the old IS advanced * per cent on
call.