The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-09-17
WALL STREET VIEW
OF The ELECTION
REPUBLICAN VICTORY GENERAL
LY LOOKED FOR.
Stocks in a Topsy-Turvy Condition on
Conflicting News, but a Big Trade
On-Western Houses Trade Heavily
Mo Change Likely in Steel-Lon
don a Good Buyer Of High-Gradc
American Bonds.

New York, Sept IA leading financial pub
LEGATION here figures out that Roosevelt's election
is assured. 1t says: 1.-THE elections in Oregon
in 1904 showed largely increased republican nan
but it Is probably safely republican this year.
Nebraska is very close state, but this year the
republican ticket is reasonably certain of sue
cess, owing to local conditions. On the other
hand, local conditions may result in the loss Of
Delaware. The elimination Of the silver issue
makes Idaho and Colorado reasonably safe re
ncan plurality in 1902 but the best judges
agree that it is safely republican this fan.
Maryland may be counted democratic with safe
ty. 1t is uncertain what Nevada will do with
the silver issue out. of the way We may,
however, count that it Is also democratic. New
York is of course, doubtful 1t is difficult to
see, however, how Indiana and New Jersey can
be regarded any thing but republican In the
light of such evidence as is now at hand. Giving
the republicans Indiana, New Jersey, California,
Colorado and Idaho gives them thirty three votes
more than is necessary to elect. The republicans
in fact, could lose New York, New Jersey, Indi-
and Idaho, provided that they carry Califor-
mia and Colorado together with the states already
considered safe. We do not see how any other
result than the election Of Roosevelt can be
looked for.' '--s
Financial News Mixed.
The Stock Exchange has been thrown into a
/ topsy turvy condition this week by conflicting
news of every sort Frost and crop scares caused
the greatest commotion. On Tuesday enormous
liquidation occurred. Tens of thousands of
shares seemed to be coming from all Sides Lon
don houses sold late in the day and their sales
balance were probably $4,000 shares, but
there is good reason to believe that much Of
this selling was on orders from New York cabled
over. The heaviest realizing in Southern
Railway. There has been large bull account in
London in that stock due probably to the
strength of the Morgan following on the otEer
side. Crews, Lichtenstadt & Co., one of the
most powerful Of the London Stock Exchange
houses with American connections We're very
heavy sellers of stocks in that market. They
used to be credited with James R. Keene's opera
lions the other side. Some fairly good Judges
here professed to be able to trace his hand in
the decline The Chicago houses either disliked
the government crop report or thought the stock
market about to turn from sthsr reasons ana
sources the market was honeycombed with stop.
ORDERS which had been advanced from day to
day as the market went up, keeping only or
2 per cent below current prices.
Big Western Trade.
On the floor of the exchange it was thought
western houses which We're heavy sellers Of thu
market last week, had been covering freely
The rally in the Hartman stocks had favorable
effect upon sentiment, more particularly as Har
riman brokers had been thought to be heavy sell
ers Of the general list at the high level OF
prices last week. The strength Of Union Pacific
and Southern Pacific was referred to on the
Stock Exchange as possibly indicating that the
Hartman interests were repurchasing the stocks
they credited with having sold at the higher
level Of prices established last week. The ad
companied by a foolish rumor Of further CONVEX
sion of Steel preferred into bonds. Reports tina
the earnings during the September quarter viii
be In the neighborhood Of $1S 600 900 continued t.
be circulated. and were probably responsible fo
some outside buying. "A prominent in Stee
circles. and who Is familiar with the working
of the plans Of those interested in the raj
pool said yesterday that it was unreasonable t
IeXpect the associated mills Of the rail pool t
change the price this year. 1t is fair to assum
ithat these mills have yet undelivered abou
1000, 600 tons Of rails sold at $2S ton, wit
the usual sliding provision. He thinks that tn
price for 1905 will be below $2s.
London Buys Our Bonds.
A. A. Ltsman, who has just returned fror
Europe, says there is genuine demand 70
American bonds of the best class, both in Londo
and other large cities Of England, as well as O
. the continent. Banks there will advance on
bond of undoubted quality, industrial or other
wise, Irrespective of the market for it, Lis
man reports really good and undeveloped maj
ket for good industrial bonds and was able t
place large amount without difficulty.
There are signs that the ease in the none
market will not continue much longer, owing t
the drain of currency to the Interior and cor
:: t1nued exports Of gold to South America
=, Traffic results on nearly all the railroads {
the United States continue to show improvin
tendencies. 1t is safe to say that America
railroads at large are handling today heavie
tonnage than at any time in the past lively
mohtns' S. S. Schroff.