The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-09-01
STOCK MARKET IRREGULAR
AND BUSINESS LIGHTER.
THE SOUTHWESTERN RAIL
ROADS ARE WEAK.
Reading Makes New High Record
Liquidation Is
Light.

New York Aug. sI-The stock mark;
to-day bor. the usual anteholiiay as
poets. Price movements were rather ir-
regular and business vas IN lighter vel
Grne. Those traders who v.r. no, really
bearish seemed Inclined 20 reduce their
commitments 'o- variety o, reasons.
These Included the hesvin..- q in'srns-
tionais In London. where "p.ratiy'.s
fHindlei to nominal proportions pending
definite news Of the great conflict in 'ae
Ear East
The Isct!onary tendency o, Missouri Ia
cinc. Missouri. Kansas and Texas. Atchi-
s"n an! colorado southern prop"rii"~.
Whose earnings arc likely 20 he adversely
com crop. also helped to check N. up
ward coUrSe % the list. In some quar-
'ers: however. the weakness o, Missouri
Paclhc and other Gould stocks. SelI
as Colorado Southern. vas attributed to
more important reasons.
LITTLE LIQUIDATION.
IN" wheat situation vas again watched
with unusual interest and the unsettled
condition Of the cotton market vas
viewed with d!s,ayo-. Nevertheless. stocks
we're not offered With any considerable
freedom. and there vas an absence 81 the
previous days liquidation. Following the
initial decline there sss Early buyin, Of
sesiing. Erie and 81. Paul a. improved
prices. the frst-named advancing on a
h!zh record. The Metropolitan issues re-
covered IN larg" MEASURE from ye<ter-
days weakness. The Tinted States Steel
shares and Amalgs nat@i Copper led the
industrial group London being again a
reported purchaser - steel preferred.
ASIDE from The increased strength o.
Reading and several other active coaiers.
ineecision marked tn. course o, the mar
sst all through the early session. Erie
common continued one II the few promi-
nent features. several large. blocks
changing hands AT further fractional ad-
vances. while Reading lost all its early
advance on realizing sales
There vas no news 10 account for the
very sharp gains and heavy buying Of
stocks o. affiliated companies. The move
msnt bore evidence OF manipulation.
ing devised IN r@adjust the Capitalization
Of tho Consolidated Company.
BREAK IL CHICAGO TERMINAL
No explanation was vouchsafed for the
5-point gain IT, Chicago Union Traction
preferred. but the abrupt break IN Chi
caEo Terminal Transfer issues probably
resulted from the very poor financial
statement recently issued.
The preferred stock fell 20 Y new low
record. The list became more unsettled IN
IN" trading. many % the active issues
touching lowest prices Of the day. Erie
was among the few notable exceptions.
holding comparatively steady in spite of
material recessions elsewhere. Tn. weak
ness became more pronounced At the close
and a great majority q! the active issues
T-nde net losses United States Steel gre
f-rrsd. which r!yaled Reading and Erie in
activity. made i-poinr gain. Trading for
London account aggregated about ,o0G
scented saies OF Erie. Southern Railway and
Reading.
Old United States Government registered
l-par-c.:it bondr advanced one-quarter 81
{; per cent and the same issue coupons =.
- hIle the now Is declined "a on call. Busi-
ness in railway and speculative issues was
unusually heavy. Total sales. per vaIu.
amounted to G.5t5.1yy