The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-09-17
WALL STREET VIEW
OF THE ELECTION
REPUBLICAN VICTORY GENERAL
LY LOOKED FOR.
Stocks in a Topsy Turvy Condition on
Conflicting News, but a Big Trade
on-Western Houses Trade Heavily
No Change Likely in Steel-Lon-
don Good Buyer Of aigh-Gradc
American Bonds.

New York, Sept. IA leading financial pub
LEGATION here figures out that Roosevet's election
is assured. 1t says: 1.-The elections in Oregon
in 1904 showed largely Increased republican 1nan
but it Is probably safely republican this year.
Nebraska is a very close state, but this year the
republican ticket is reasonably certain of sue
cess, owing to local conditions. On the other
hand, local conditions may result in the loss Of
Delaware. The elimination Of the silver issue
makes Idaho and Colorado reasonably safe re-
lican plurality in 1902, but the best judges
agree that it is safely republican this fan.
Maryland may be counted democratic with safe
ty. 1t is uncertain what Nevada will do with
the silver Issue out of the way. We may,
however, count that 1T Is also democratic. New
York is, of course, doubtful. 1t is difficult to
see however, how Indiana and New Jersey can
be regarded as anyt thing but republican in the
light of such evidence as is now at hand. Giving
the republicans Indiana, New Jersey, California,
Colorado and Idaho gives them thirty three votes
more than Is necessary to elect The republicans
In fact, could lose New York, New Jersey, Indi-
ana and Idaho, provided that they carry Califor-
considered safe. We do not see how any other
result than the election Of Roosevelt can be
looked for.'
! Financial News Mixed.
The Stock Exchange has been thrown into a
topsy-turvy condition this week by conflicting
news Of every sort. Frost and crop scares caused
the greatest connection. On Tuesday enormous
liquidation occurred Tens of thousands of
shares seemed to be coming from all sides. Lon
don houses sold late in the day and their sales
balance were probably $4,000 shares, but
there Is good reason to believe that much OF
this selling was orders from New York cabled
over. The heaviest realizing in Southern
Railway. There has been a large bull account in
London in that stock, due probably to the
strength Of the Morgan following on the other
side. Crews, Lichtenstadt & Co., one of the
most powerful of the London Stock Exchange
houses with American connections, We're very
heavy sellers of stocks in that market. They
10 J>o
lions on the other side. Some fairly good Judges
here professed to be able to trace his hand in
the decline. The Chicago houses either dsliked
the government crop report or thought the stock
poured out stocks on balance :!l day. From lcca
, sources the market was honeycombed with stop
orders which had been advanced from day tt
day, as the market went up, keeping only OF
2 per cent below current prices.
Big Western Trade.
On the floor of the exchange it was though
western houses which were heavy sellers of thu
market last week, had been covering freely
effect upon sentiment, more particularly as Har
; r1man brokers had been thought to be heavy sell
ers Of the general list at the high level o
. prices last week The strength of Union Pacifi
and Southern Pacific was referred to on tn
= Stock Exchange possibly indicating that tn
Hartman interests were repurchasing the stock
they are credited with having sold at the highe
level of prices established last week. The ad
vance in the United States Steel issues was &C
compan1ed by foolish runor of further. CONVEX
, sion of Steel preferred into bonds Reports tina
: the earnings during the September quarter will
be In the neighborhood Of $19, O0a 900 continued
be circula ted, and were probably responsible TO
circles, and who is familiar with the working
of the plans Of those interested in. the RI
pool said yesterday that it was unrea sonab1e t
expect the associated mills Of the rail pool t
change the price this year. 1t is fair to assun
that these mills have yet undelivered abou
100000 tons of rails sold at $2S ton, wit
the usual sliding provision. He thinks that tn
price for 1905 will be below $2s.
;: London Buys Our Bonds.
;; A. A. Lisman, who has Just returned fro,
l. Europe, says there is genuine demand fc
! American bonds of the best class, both in Londo
- and other large cities Of England as well as Q
~ the continent. Banks there will advance on
10 bond of undoubted quality, industrial or othe
wise, Irrespective of the market for it, Lii
Is man reports really good and undeveloped ma
!. ket for good industrial bonds and was able
9r place large amount without difficulty.
or There are signs that the ease in the none
ID market will not continue much longer, owing
o. the drain of currency to the interior and CO..
=: tinued exports of gold to South America
a TRAFFIC results nearly all the railroads
O. the United States continue to show inproyir
l. tendencies. 1t is safe to say that America
f. railroads at large are handling today heavi
y tonnage than at any time in the past twel
s, months. s.. s. Schroff