The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-09-03
me ROCKY MOUNTAIN SECURITIES co.
STOCK MARKET REFLECTS
UNLOCKED FOR ACTIVITY.
UNITED STATES STEEL CON
TINUES TO ADVANCE.
ssaion Pacific Bought Freely
2 Wabash and Pennsylvania En-
joy Improved Prices.

New York. Sept. 2-ConsIdering the ap-
proach CT the triple holiday and increased
excitement In cotton. to-day'sr stock mar
ket reflected unlooked-for activity and
strength. The volume of trading was not
much less than that of the previous day.
and the speculative element hesitated TO
take the short side. There was further
extensive covering In several issues. chief
ly In United States Steel preferred. which.
together with the common stock. advanced
90 new high levels for the present move
ment.
Union Pacific was bought in the belief
that the return Of a prominent interes: in
that property would soon be followed by
another upward movement. Pennsyisa-
mia and Wabash Issues were al improved
prices. in spite Of adverse traffic returns
There were some reactions In the after
noon, but these were Offset by gains IN
standard issues.
BREAK IN COTTON.
The break In cotton and the tremendous
selling movement in tina; staple were with
out marked effect On the prices OF stocks.
In the late trading there was more eK-
tensiye buying OF Reading and the Metro
politan issues. 81; Paul. Missouri Pacific
and Mexican Central were also bought ia
round lots at higher prices. The closing
was active and strong.
Z conservative estimate OF the weeks
money movements indicates a loss OF not
exclusive Of another 10000 shipmen; to
South America and transfers to-day by
the Subtreasury OF $1,000 to Chicago. Gin
cinnau and New Orleans
The bond market reflected the strength
OF siocY' Total sales, PAR value. amounted
20 S.759.00.
REVIEW OF WEEK.
In most essentials there has been little
change during the week in the character
OF conditions calculated to exert an inf;u-
ence on the market. The public attitude
toward the market continues passive. al
though in some quarters a somewhat bet
ter commission business was reported.
The keynote Of the belief In n further
advance SO generally held by the profess
absence OF any serious selling pressure.
Prices Of securities have risen. and the
on a scale sufficiently large TO check the
advancing tendency.
The usual presidential years uncertain
ties have been less pronounced than in the
past and there is no indication at pres
ent to Justify belief that they will be-
come more serious with the progress OF
terest is taken BY the leading Banking In
terests in the struggle in the far East
than IN the political situation at home.
would not check national prosperity. 1t IL
conceivable that a disastrous reverse by
either OF the Powers now engaged In the
war WOulq De followed Dy HerIDuS disturb
ances "a the British and Continental
money markets.
MONEY CHEAP.
Money at this center Is abundant and
cheap, and time loans made during the
week extending over the end OF tho year
have been at low rates. The complaint Of
lenders has been the small demand for
funds.
statement Just issued by the Depart
rnent Of Commerce and Labor IL especially
Interesting at this time. II shows that
exports of manufactures during the last
three months have exceeded exports Of
agricultural products.
An important feature OF the week was
the extraordinary activity at higher prices
OF Government and other bonds. Sales OF
United States Steel IS. Rock Island Is and
81 and Union Pacific conveTtibies were es-
peciaIiy large. and the demand for Japa-
nese Is brought slight advance.