The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-08-28
VIM Htue.Pns EP Ha.svP: H Little "a vP: Adj H Little Sc: slime DysntT Urea
WE OWN AND OFFER T FIRST PURCHASERs
900 ELSE RRY, MO-, SO SCHOOL BONDS,
Dated July 1t 1904 Mature 1924 Price n full particulars at
LITTLE & HAYS 1--WE 1MENT COMPANY,
3O3 NORTH FOURTH STREET.

a decline Of Is points in condition during
the month. The deterioration is probably
considerable and speculation has been ex-
cited. with prices at en- advance of from
10 TO 10 points Tor .he week, but the adj
vance has resulted largely from forced
covering. and that market ~ now regard
ed as in an exceedingly delicate posi-
!! ton.
Damage reports relating to spring wheat
have been less sensational. and reliable au-
thor'ties practically agreed upon a total
wheat expecr1tion of 575!Gca.DN bu.. but
his will not leave any material surplus
for export. Wheat prices toward the
end of the week made marked recessions
from those Of last Monday. and 1t is ex-
September 10, will show that the damage
has been greatly overestimated by pri-
vate experts.
CORN SCARE.
Attempts to Great a corp-crop scare met
with some success. but reliable advices do
not indicate any serious injury. The safe
ty of this crop Is very important. not only
from the market standpoint. but because
a large crop OF corn Is counted on to Offset
any damage In wheat and provide the rail-
roads with q large tonnage. In reviewing
the crop cond ton the conclusion Is reached
mat the total harvest will be larger than
mat OF last year; while higher prices will
naturally give the farmer large returns
and increase the buying power of the
South and West.
The monotony of the money market was
this week broken by the initial movement
OF currency to Western and Southern
points. also to Canada. Cuban exports
also continued. The movement Of money
to the banks will be reflected in declining
-eserves. hut he large holdings ~ .he AZ.
ISOLATED Banks make any marked ad-
'ance IN money rates extremely improba-
Die. The funds now to be dra wn Will be
employed in the crop sections and viii
Countless stimulate commercial ACTIVITY
The iron and steel situation continues
been reported: That these reductions nave
brought much additional business is a
matter OF DISPUTE, though several large
orders FOR rails and other materials have
recently been placed.
UNDERGONE FIRM.
The stock market has been Irregular.
but 1t cannot be denied that speculation
has been characterized by a strong under
tone. In the latter part Of the week some
substantial buying of the Hartman
shares, TIE Gould stocks. the rangers
and the Pennsylvania group impaired a
decidedly strong tone to the list. end there
tain powerful r%ailroad and financial mag
mates from abroad will be followed BY i'm
portant developments and u broader ard
more active market.
The Investment demand for good securf-
ties has practically cleaned the market Of
high-arade bonds. and bankers now look
fer investors to turn their attention to the
better class of railroad stocks. The labor
Is complicated by strikes and
lockou.s. but these have received little
from the market standpoint.
The political situation is not a market |
factor and Is practically ignored.
The war in the Orient attracts only
passing attention. and has little Influence |
price movements. The technical |
position of the market appears to be the |
dominant influence. and a scarcity Of
stocks is shown by the fact that bear at |
tacks and bad news AVE failed to dis |
lodge holdings or to force any liquida- |
ton. 1t is an admitted fact. however. that |
The public is not In the market, nor Is 4
to become interested.