The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-17
STOCKS DOWN and UP
EARLY EFFORTS TO SUPPORT
PRICES ARE FUTILE
Market Seems for Time Abandoned to
the misunderstanding Diminishes at
the Lower .LeveI-closing Is at Higher
7 Points

NEW YORK. Sept. 16.-Early efforts to
support prices of stock today seemed to
prove futile and there was time when
the market seemed to be abandoned to
the liqlidators. But the selling diminish
ed largely sat the lower level and encour-
aged the friends of higher prices to renew
their supporting tactics. The news did
not offer clear explanatio of these
varying operations. The grangers and
Pae1fleS were under heavy pressure dur
ing the first half of the session in spite of
the react1onary movement of grains. The
weather reports from the grain regions
We're of higher Temperature and failed to
bear out last nights forecasts of the de-
velopment of another cold wave in the
Northwest.
Yet the market sank to a lower level
with Pennsylvania the sole reliance for
support of prices. That stock ultimately
gave way with the rest of the market. It
was at disadvantage with reports in
circulation of a contemplated strike on
The part ofsSOme trainInenS of the West
ern lines system. The extension of the
strike amongst employees, of the United
STATES. steel corporation in the MahOning
valley bore on those stocks and forced
them a point under last night, with senti-
mental effect On the whole list The steel
stocks, however, resumed the leadership
OF the recovery in the market later. shar-
ing with Reading in that respect The
market was much quieter than yesterday,
or on any day this week and lacked the
yigor of movement In either direction
i &
ofado Fuel made further dip and was
an influence in the early depression.
Copper Is Up
Amalgamated Copper rose in face of
the general declining tendency without
other explanation than sharp rise in
the price of copper in London A reduc-
ton IN the rate of dividend distribution
on International Pump was without eff
feet On the stock. A feyerish advance in
the Toledo, st. Louis & Western stocks
was nominally accounted for by a story
that 1T was to be included with the COM
bined Cincinnati, Hamilton 6, Dayton and
Pere Marquette in a scheme of absorption
by the Erie. Railroad gross earnings for
the first week in September make ia
vorable comparison with the correspond
ing week of last year, the ratio of In
crease. for roads thus far reporting reach
ing 4.18 per cent. ~
The rising rate for money seemed to
but its influence decreased during the
DAY The currency movement up to
thursday night shows loss in cash by
the banks of UPWARDS to Sc, 900, GEO the
loss TO the Subtreasury alone accounting
for So, 182, 600. The liquidation in the stock
market during the week is expected to
affect the loan item of the banks, but the
usual Uncertainty prevails regarding the
complexion of that item of tomorrow's
bank statement. The noted strength de-
Veloped in United States Steel preferred
and Reading induced a substantial recov-
cry in the whole market The closing
was irregular, but above last nights level
Bonds were irregular. Total sales mar
value. 81, ATE, 900. United States old Is adj
vanced a per cent on call.