The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-16
STOCKS ARE MIXED
MOVEMENTS OF THE MARKET ARE
RATHER SPOTTED
Ing, Furnishing the Most influential
Factor In Shaping Sentiment =

s NEW YORK, Sept. 15.-It Is difficult
TO apply any news that came to hand to-
which again distinguished the trading at
the stock exchange and for the mixed
movement of prices. The market started
upward with a comprehensive sweep that
suggested a continuation of, yesterdays
movement, but it became spotty and ir-
regular again in the later trading. The
pront taxing was so general as to suggest
again the purpose of support in the mark
ing up OF picked stocks here and there in
the list. The character of some of the re-
ports circulated to explain the advances
was not calculated to inspire credence,
and added to the suspicion of fictitious
nature for some of the movements.
The continued advance of Pennsylvania
and the United States Steel stocks was
the most influential factor in shaping
sentiment on the general market and was
fairly effective in supporting the level Of
prices in the face of profit taking in some
OF the stocks which have made previous
striking advances. Aside from the re-.
ports of growing expansion in the or
ders for steel products, there was no
news concerning either property, unless it
was the denial Of a report, current yes
terday, OF the placing of an additional or
der for 100, 900 tons Of steel rails for the
Hartman railroads. There were rumors
OF an important short interest in the Unit
ed States Steel stocks which was meeting
difficulties in covering, and the urgent de-
mand for these gave plausibility to the
report.
Last nights froSts were reported to
have fallen as far short of the dreaded
damage to corn as those of the night be-
fore, but the grangers and Pacifics were
distinctly heavy after the opening. An
keting of large block, of Colorado Fuel,
which had the appearance of an order to
sell at the market.
st. Paul Doesn't Profit
st. Paul was not helped by it's annual
showing of record net earnings, and
Smeiting.s increased earnings for the year
resulted in a decline for that stock. The
/ plainly based on the favorable prospects
for that crop, but Southern Railway was
marked exception to the movement and
continued to be sold to take profits The
volatile rise in cotton carriers begot more
suspicion than it engendered condolences.
1t was asserted that freight traffic on the
trunk lines was becoming heavy. The
full foreign trade statement for August
partly offset the unfavorable impression
caused by. the showing of exports for
domestic products. That showing, it will
be remembered revealed shrinkage of
1888, 1922 compared with the preceding
August, while the total exports show an
increase of So, 241, 624, the inference being
that the discrepancy is made up by
growth OF manufacturing exports. This
is supposed to point to increased steel ex-
ports.
The making up of the call loan. rate of
2 per cent evidently foreshadoWs a fur
ther shrinkage in the bank surplus, and
was an inference in the growing weakness
of the stock market, which carried the
grangers and Pacifics and few of the
Eastern stocks a point or more below last
! night and largely reduced the gains else
where. Bankers loan bills also made
their appearance in the foreign exchange
suggesting the likely source of relief for
any marked growth in the demand for
money. The stock market closed easy
Bonds were firm. Total sales, par value
"a nh 600 I1nifa6 Sfofac
changed on call.
Ciosfnq List =