The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-02
STOCKS ARE FIRM
BUT OPERATIONS ARE LARGELY FOR
PROFESSIONAL. ACCOUNT
Several Issues Show An Improvement
indecsion and Contrary Movements
characterize Tradlng-New Railroad
Reports

NEW YORK. Sept 1.-While the tone
OF today's stock market was firm in the
main, with distinct Improvement in a.
number of issues, operations were again
largely for professional account and in,
moderate volume. Trading was character.
lied by some indecision and contrary
movements, Reading for several days a
market leader, being subjected to pres
sure. The governing factor was the crop
SITUATION, concerning which a great deal
OF news, mostly unofficial and of doubt.
ful value came to hand. Dispatches from
the West indicated favorable conditions
Tor maturing corn, and it is believed that
much of that commodity is now secure
from the Canadian Northwest We're of
the same tenor. Yet reports of frost were
enectlve in advancing both wheat. and
Unauthorized statements that the pre-
vailing prices for steel beams and plates
would be maintained coupled with other
trade reports Of a favorable character,
helped to give renewed strength to the
steel stocks. United States Steel pre-
ferred registered another substantial adj
vance. although the stock was sold here
by London. That center also took profits
IN some of the other internationalS. Open
ing with an irregular tendency. the local
MAJ soon made recovery under the
this stock was aided by reports Of the
companys agents telling of the rapid
progress that is being made in the har-
. 'S'Sifi5 VI CtOpS. otuGT early features 4OI
strength We're Union Pacific, Southern
Pacific Southern Railway, St. Louis
southwestern preferred and the Rock
Island issues.
Sugar Gains
Sugar gained point on what was re-
garded as inside buying There was a
reneWaf OF the previous days operation
in Consolidated Tobacco bonds. but the
buying was again strongly suggestive of
manipulation. The stocks of the affitiat-
ed cOmpa MES were COn1vlaf.ativeIy neg
lected. Metropolitan Securities and Met
repolitan Street Railway were conspic-.
held steady at an advance Orders for
the minor issues of the Pennsylvania
group came from Philadelphia houses.
Amalgamated Copper held firm during the
early session in spite Of profit taking The
feature Of the afternoon was the strength.
OF Steel preferred, which touched GO, the
h1gneS6 Level for the present movement
st. Paul declined on the publication OF
the July report, showing heavy decrease
in net earnings, and the balance of the
active list manifested reactionary tend
e FL In the late trading there was fur
ther buying of Steel preferred. Rock Is
land common and Erie. Steel preferred
closed fraction below the top price of
the day, but.the balance Of the active list
ments in the money market We're uninI-
portant. A number Of railroad reports
were issued, chief among these being that
st. Louis road for the year ended June 80.
Over 1881 900 st. Louis SOUTHWESTERN re-
1900, and for the same month Louis
$21,500 :
In the government bonds old As regis:
Iered declined u per cent and the coupon,
y per cent on3calL Railroad bonds were:
strong: Total sales (par value) aggregate,
%. 645, GOO, a marked increase over recent
Closlne, fsf