The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-29
STOCK PRICES OPEN Up
BUT NOT LONG DO THEY MAINTAIN
THAT ATTITUDE =
Heavy Profit Taking Carries the Market
Back to Tuesday Nights Leves-ciosIna
is Rather irregular :

NEW YORK. Sept. 2S.-Prices of stocks
opened up this morning all around, but
that was about the only consistent moves
ment throughout the day. Heavy profit
taking promptly made itself felt and cag-
Tled the. market back to about last nights
level. Then new points of strength were.
pushed ofwar to sustain the market and
these persisted fairly well during the re-
mainder of the session. But meanwhile
the movement to a profits was followed
up with these sustaining prices at work.
The result was a constantly irregular
movement. United States Steel preferred
was the feature of the market in con--
~tinuation of yesterdays strength. This
was of strong sympathetic effect on the,
general list and was supplemented by the
aggressive strength developed by Reading.
The buylng OF these two stocks was said
to be traceable in large amounts to Phil.
adeiph1a, and this was supposed to rep
resent good information OF the steel and
found its way to the public in explanation
of the strength. OF the coal trade it was
argued that the supplies of anthracite ia
though the demand is shown to nave
been very large during the spring months
peIore the progressive advance in prices
began. The rise in Ontario & Western
on the decision to pay a 3 per cent divi-
dend upon the authorization of a s12.-
ooo,voO bond issue was the only response
against the rest of the coalers to the
movement in Reading. PENNSYLVANIA was
heavy and out of sympathy with the
Steeis and Reading, contrary to custom.
~ iiC 0CCultl1tSH dQG announcer 1QmD IN
me curb market and rumors continued
largely prevalent of a compromise be-
tween the Union Pacific and Great North
ern interests in that corporation. But
Union Pacific gave signs of WEAKNESS ana
the same was true of Atchison, which was
forced nearly a point below last night in
the late trading.
AmaIsamated Copper Up :
The momentary strength of Amalga-
mated Copper was connected with the
large E~ufODean CONSERVATION nf ifc nrNd-
uct. The rise in the louisville e Nash
Vile group did not extend far AMONGST
the cotton carriers, although there were
some neavy dealings in Southern railway.
on made a further dip under pressure of
disappointment over the intimation of g.
passing OF the dividend m then rallied.
Money continued to work Somewhat
easier n the demand was yery dull. a
loan expansion for the week in view Of
Inc greater speculative activity AT the
STOCK exchange will not prove a surprise,
nowever. As the movement towards the
interior continues heavy another consids;
efaoie 1nroad upon surplus reserves is be-
ginning to be counted upon. London
DoughI stocks here again TODAY and the
export movement of cotton was said to be
very large. Sterling exchange yielded a
rev points. Reports of arrangements for
e new hussian loan and Of oan for the
Inc weafner mar offered no ground for
apprehension over the crops, bur Presj-
den5 Miller, Of st. Paul, added his sanction
10 the two billion corn crop estimate. A
feature of the day was the rise. in 8 num-
Der OF minor industrial speciaIties without
explanation. On the circulation of the
United States Steel preferred rose to 72I
and helped to rally the market, but the
CLOSING was rather irregular.
value, $4.278, 600. United States bonds
were unchanged on call.
CLOSING List