Newspaper Page Text
STOCK MARKET IS INERT
AND CLOSING IRREGULAR.
THE REPUBLIC: SUNDAY. OCTOBER 25, 1903.
Northwest Corner Fourth and Locust Sts.
Capita! and Surplus, - - $10,900,000
Accounts of Corporations, Firms and individuals Solicited.
THOMAS II. WKST. IVi-sIiL-lil.
K'lHT. S. l.KUOrvlXlSS. IiKNUYC. HAAUSTICK. JUIlN . .-'I1.I.KY.
Vice DjcsMi-lit. Vice I'nolilcnt. Vice I'rftJiieiit.
JUI1N P. SIIEPLnY, X. A. MrMlLLAN.
Vice President. Vlrv I'n-dti'piit.
A. C. STEAVAKT,
ISAAC II. OKK.
Ttum UUirrr ami Secri'larj.
WILLIAM K. XUXBT. Chairman Board American Car & FVooDdrv Co.
JOHN L. ROLAND. President John I Roland Stationery Cth.
ADOLPirCS BCSCH. President Anueueer-Busch Brewlns Association.
DANIEL CATLrN. Capitalist.
JOHN T. IAVIS. Capitalist
HOWAItU ELLIOTT. Vice Prest. Chicago. Burlington A Qatncy II. n. Co.
S V. FOIJim'E. Capitalist.
JUIIN FOVI,EH. Trustee The Liggett Estate.
II It. GO.MIAJ1. ITesident Graham Paper Co.
WILLIAM !:. OtT. Capita.IlsL
n M. HOI'SRR. PrrfiIont St. Louis Globe-Democrat.
ROBERT Mi K. JONGS. Robert McK. Jones A Co.
EDWARD MALLINCKRODT. President Matllnckrodt Chemical Works
THUS. II. McKlTTHlCK. President Hargadlne-McKIttrick Dry Goods Co.
iHAItl.ES D. McLLRE. Capitalist.
I- M. Itl'MSEY. I M. Rumsey .Manufacturing Co.
JOHN A. SCCDDER. Capitalist.
JOHN Si'CLl.lX. Capitalist.
E. C SIMMONS. Advlor Board Simmons Hardware Co
IJ. O STANARD. President R. o Stanard Milling Co.
WILLIAM TAl'SSIG. President St Louis Rridgo Co
THOMAS II WEST. Pr- went St Loul I'nlon Trust Co.
EDWARDS "WHITAKKR w l.i'..k-r ,c. r..
B. F. YOAKl'M. rrrtdrrt -i Loui A. San Francisco Railroad -..
t As Accounts
a. n. nnowx,
Prest. Ramlltnn-Ttrown Shoe Ca
GEO. O. CARPENTER.
Manaetng Director National Lead Co.
IL .M. COIDIIF.V,
Harre M. nomlrev Co.. Insurance.
TIIOS. W. CROL'C'H.
Prest. St. Louis Dressed Beel and
KAFFOnn 5. DE 1.A50.
Trras American Car and Foundry Co.
S. M. DODD,
rrest. MIssonrl-Kdlson Electric Light
and Power r
ALHERT X. EDWARDS.
EDWARD V. COLTBA.
Prt Sllro Fumaco Co.
rrest Laclede Fire Tirlck Co.
Vie Prest. and Gen'l Met. 110. l'ac
BAM 31. KEVNARD,
Prtst. J. Kennaxd A Sons Carpet Co.
Capital and Surplus,
XHE AMERICAN EXCHANGE i
i BANK solicits tKe accounts of I
ft. depositors who desire the accom- I
W modations of a lirst-claas and "well
I equipped banKing house. & & & 1
lL 207 N. BROAD-WAY J
WHITAKER & COMPANY
Invite Personal Interviews and Correspondence
Relative to the Purchase and Sale of Bonds
and Stock. - - - Direct Wire to ffew York.
300 North Fourth Street
sJ3.W) allann " '111 ref.laf I
pES.000 SI L A Sub R n-w i
itxtimy Klnii l Teii r i i '
pTIi-w ami f u I pjrt('ifar i "ir ..(n. e
t-"tlll ma-ket rat'S allow d fa "ler -url
Cn In rxvliarcf I" '" t
in ctmi;nt .
CM an4 Z1J Vorh Fourth
nnlm in nuinlrlpMl anJ nnrft1'" tnJ.
al m- k-t. bon-l and notr5 rurrB In othrr
im pnr-iptlv -pxri-nl-M b prl-at' wtrr Mon-fy
. tm-i ,,n r. al iim and ihrr iiilUieral
flecks, Bonds, Qraln,
-otton. , . .
r Mti KMTikia
. H. UIDLEY& CO., Chiciga
Vrlls lor ecr Daily Market Uttet
l"p-t--dnic Jllnln: pa-erlfully
Siiustrated). rontalnlcs all Hie
latest :ien Iroin 'anions cold
camps. Including Bin: Crook &
THUNDER MOUNTAIN. !
Fiiuaubii in ww.
I. . 3IIMNG JOIRNAL,
I. I) o,.ao M., .-. 1
T 3 SSTyT
. v Jr
PRIVATE 1 tJ S
i iitinrp .cv .. 4f
c -y j t-"j
C G. KOX,
Vice Prest. St Louis NaUosal Sleek
ELI IS MICHAEL.
Sec". Rlce-Stli Dry Gods Co.
LAWRENCE R. PIERCE,
Vice Prer Idrnt
EDW. L. PREETORIUS,
Trras. German-American Tress Ass'n.
J. L. RANDOLPH.
Director Merchants' and Planters Na
tional "tank. Sherman. Tex.
JOS. E. SCHWAB,
Prest, American Steel Foundries.
Prest Union rtrewlrig Co.
I II. TEIIDETTS-,
31. n. WALLACE.
sev Sam'l rupples Woodrnware Ca.
C. G. WARNER,
Vice Pret. Mo. Tac Rr. Co.
J. SI. WOODS,
UNTIL 7:30 P. M.
- " " - " i i ii 1 1 ii iii n.n.n.'u
Jacob Berry & Co.,
I New T-:rk Consolidated Stock El
Membrs . ch- use
' Nw York Prodcce Ezcbanac
44. 46 Broadway, New York.
IHrect ptirate wire to our tranche at
ItOSTtiN HAIlTronD. XEIV RAVEN".
HRIIlOKPORT. PIIILADELI'IIIA. UOS
TliB.iL JFKIlEf. ALU A.N r. WILitlNQ.
"A GLIMPSE AT WALL
STREET AHD ITS MARKET,"
rental nine teU'ed fluctuation teblta &nd
iicriptlon of active ercurttlc?. L'rned upon
12 pr -nt rr annum, pajable monthly, ro
lnc fianklnjj buslne Invettmnt yji up.ico
Inc mnldly Tnoroa? & fa The IJourtr. Phll
noelpt.ir SHVESTMENT BONDS,
t.nn Alton III 4 per rwit fVhoul Itonds
llXftVt r. ft LA Pub Rj l
HIMWilli. ilo rr c-nt School Bonds.
I'licen and full particnlars al our efflce.
I"ull marktt ratea alluon) for otb.r securities
m exchange foe the above
WM. C. LITTLE & BRO.
IVaJrrs jnmnn"lclp!0?nd cSSore'uen bd,.
araI ,tprk, tnd, , notra. ord-n In ether
cities promptly executed by prime srlre. Monty
io auau vu c&t dc tuu vujct cvuaicra
t2 DAilUC l!
F j b a aca ai a
At 108 and Interest Yi
Dated July 1. l'i2: due July 1. 122; NUbjdt to
call 5 years from date at lo5; coupons payable Jan
uary and July of each year.
These Bonds arc secured by the magnificent
li.-story Chemical Uuildinjr and the addition thereto,
situated at the northeast corner of Eighth and Oliw
streets, in the heart of the business district oi
Here is an opportunity to buy BQftlPS of the
highest merit-yielding a large return.
$4TCaII or Write for
SUMMARY OP THE
shorts in Dec. vclieat were fo thoroushly alarmed tint they ran the pric- of the
option up to S0c In yesterday's market. Profes-ekinals were Hie Int buerj. and It
w.i-1 appartnt that the manipulators of tho .leal were after the seulp of their oppo
itenUs. The usual factors which ko to make a market wtrr icnored. Tliat there
was not mueli legitimate news ealeulaled to affect prices one wuy or th other was
shown by the inactivity of the May option. Utrly III th ssslini a report wa- cir
culated th.it :t prominent Xortliwestern trader wtis short a LI-; line of Dec. In this
market, but this subsequently was .lenle-d. Evens showed that there was a Wr
short Interest somewhere, and traders who were Ioiir lost no opirtiinity to take
advantage of the situation. The upward rootcment was helped by the fact that,
while local receipts were large, only a comiwratlvely small portion of the grain re
ceived was up to contract requirements. There vas more talk of war In the far
East and it was said that Japanese buyers were taklns flour in large quantities on
the Pacific coast.
Corn did not have much independent strenctli. though tliere was M.me fear of
further unfavorable husking returns. The strength of wheat kept the coarse grain
on the upturn.
Dec. wheat opened unchanged ami ckv-ed S,c up.
Dec. com opened Ue up and c!o-?etl ?jc up.
May oats closed S,e vp.
Receipts of produce were in fair volume, but there was a sood demand and prices
of fruits and vegetables were steady.
Tractions, the only active issues in the security list, were on the downturn.
Yesterday's bank clearings were K-K&SS1. balances C&S1. Iicount rates were
steady lvctween 5 and per cent.
Spot cotton wsis unchanged In the local market.
DECEMBER WHEAT BULGE
ON COVERING BY SHORTS.
THICK OF OPTION
VANCES TO SOi-.
rom Is Dull, but on tlit rjiturn
in Sympalhy With the Move
nieiit of Wheat.
Dec. wheat was the feature of yester
day's speculative grain markeL Manipu
lators and t-horts worked a blc advance
and the option touched the highest price
on the crop before the' cloe of the ses
sion. Aside from the rush to buy on tlie
pait of traders who feared that Ihey
might be squeezed, there was not much
excUM- for an advance. Cables were easy,
but there was more war talk, and ll was
reported that Japan was a lieavy bujrr
of Hour on tlie Pacific CoaM. I-ocal re
ceipts were fairly large, but the move
ment to primary (minis was let-s than on
the corresponding day last year.
Dec wheat opened unchanged ami sold
I ICc. 4K- r. e. 7c. STt,r. 7i.r. :.c.
IfTr. l-TS-. TV-. -. ".c. ,.r. liy. ".r.
c. X.c. gr, SsV. M.c. 5"c. Sc.
Though receipts wero large, the upwanl
movement of wheat strengthened corn.
The pretlous day's unfavorable liuskinir
returns :i1mi bad a rotitlnued bulltsli ef
fect. Tradlns was Ilglit and the cash
market wax dull and easy.
Dei-, corn opened c up and sold at:
".c. 4V. 4V. 4c. c. r;c. 4Sc.
Receipts of wheat at St. Louts M6JW
bu.. of which lir cars local and 2 can"
through, against 1S-VSM bu.. of which CsSl-i
sk. and 1S5 cars local and 6 cars through.
Exports of wheat and flour to Europe
the last week reported at -l.rK.- Im..
against r.Sfi,tw bu. a week ago i-nd ..
(." bu. in ISr
Iterelpts of wtveal at primary points.
I.CE3.USI bu . against L3TK.VIO b... in VHZ.
and shipments. I.a.i) bu.. agalit 4r.
CO bu. Northwest reeIe.l. 711 ears.
agalnM UK cars In lsC I'hieago re-reived
SS.II3 bu.. and Kan-sts city 1-CMW bu.
Clearances. r73.y bu.
Receipts of corn at St. I-ouK AZfft 1L.
of which ! cars local and 1 i-ats through,
against ILIJ5 bu.. of which &e sk. ami 17
cars local and " cars through. In UJ.
Exports of -orn to Euroiie the past wek
reported at l.MV.OGO bo . against l.tle.K))
bu. a week ag. and K.i0 bu. In l.iri
Receipts of com at primal-) isilnts. &1.
OOJ bu . against S.K bu In lHi aiHl
shlpmtnts CI-'s.'O Ihi.. against 3W.0ai Im.
Chicago received SSS.K" bu. ami Kansas
City 11.310 bu. Clearances, ii.lv) bu.
Receipts of oats at St. Ixuls S1.l Int..
of which W sks and 41 cars local and
ears through. agalnM 76.D59 bu.. of which
IS cars local and 9 cats through. In ISC
Receipts of oats at irlmary xlnts. On.
OOO bu.. against 6C Im. In 1M and ship
ments Vv bu.. against . Ihi. Clear
ances. 5!Xu) bu.
Nes. Tofk. Oct J ..oiernment lnd:
Cnlteil States rfuinHng Ss. relstered 171,
Cnlted Slate, relumling 2s cottfstn Wfi.
fnltM States 3. rerhtrrM MS
I'nltM Ftates xs. coapnn It.
t'rltrd Stt-s ne t rerlstrred 13.
Cnltft FUtes n'w Iv Mown tS4
Cnlted States H 4. reitstered Ill
1'nltM Slates old t. roaonn m
I'nltM States S. reglst-ted MP;
Cnlted Slat's Vs. o-ujsm hCS
Nesr York. Oct. :i -lUr sllirr save ,r oun.e.
At London, uncrrtiln. ?.! tv iisinrc.
rsr York Mnnrs llarLrt.
X. Tmk Oct II -Mines- "n call numteal:
no lons: tins, truster st-s.!v: cs ,ut. ; i
days and months IMrS. Prlmr nssteantile pa
pr mtf. StrrHng exrhanso slsa.lv. si.th act
ual lstnrsc In banter.- Mils at J.I.(-i
fnr demarhl and at I.JSS4S. asjs 'or susy Sits;
tictM rates .H und l.wS. rosnmerrsNl UIH
I.BS. Mexican doUar fs.f-. CovrniFaent l-s4s
steady; raHroad bonds ttrni.
Washlnct.n. Oct SI Available catti baLusee
ir.in.7w; sold nc7.n. -
ST, LOUIS MARKETS,
TRACTION SHARES LOWER.
WITH MODERATE TRADING.
HANKING ISSUES ARE TN
Iiroaihvsiy Cable I.onds Are I he
Only Active Issues in .Mis
Tractions were the only aclive Issues In
a tcry dull market for local securities. St.
LouH Transit opened easy at JH.Ti and
closisl with sales at IHJ. with bfcls of
JU.Cs for more. Cnlted Railways pre
ferred held steady at PSI-V. and the 4-I-er-cent
lonls were higher at nv$74.
Ranking issues were neglected, but altout
unchanged on the liasis of bids ami of
fers. Ilroadway Cable bonds, at JHD.IJ.
were tlie onlj active Itsues In the miscel
St Ivsils Transit j tl.c
I'nilrd luillsrars. pifd. I.S
I'mtisl Hollsajs. Is. 771
MrrrlMMk'-Larlnl'- Hanlt .... As.
i-tale National Hank Its
tvntrul Ofcal and Coke com... :.
National an.t. -st Kd.
Simmons Ilsntvrare. eissl . .. S5.SS
Simmons llanlrrare. 1st pM... lla.'sl
SlmtBuns llaitlnarr. ZA pfd... lst.'o
Itr tt. l MJ.i.1
;? .1'. w"
Hrrs-lrg A-k-latlon ft .
Hroadnar CM. Cs M.(W
ll1- Mining 3
Is M. Lwls Transit at
S M. !X1U Transit at
S M. Ijkiw Tran.lt at
: I nltM Itatltrays prd at ...
!. t'nlltd IUIIcras Is at
eir Y.irL 4'nrli Mocks.
Itsaott.! Hr O. II. Waskrr & CIS, No.
Nurth 'ourth street.
Aru-.u-an Tin Can casa. x
IM iM ,i.
Arm rinui IJtht a Tlaetsm com as
INi. I'M sa
Amrrtraa IVrHlns Paper earn I. Hj.
!. 11 iZ
Vmy Stale Oas '?
Br.en a i-.HMSFse.l Milk rem h;
iKi. if. 4
Itrtl.h -u4umtta tn9r ji
-i-nsolMstsf It.trlrMntins; At lie ri ss2
Klxtra (Wat tH
HTtric Vehicle com
.Irerne .'nsn4at.d Corser
Hawna .nmr.clal IV. rem....
r-i. pM 3.
Ii.li-tl.suuah lupsd Transit M
inirrnHiHssai Aiercaniiss jiarree eon.
Montreal A IsastMi (Vsifsr
Ma.e-nl Wlrel. -s TOcrssl
.v- Amsteiisani Gas 1st . J. z J.
.- Yerk r3rtrtr Vctllr'e Trans
Otrs Kb-vatur cin
Hntal Isskinc PrrsaVr pM
Seatmr.1 Air lane rem ... 1! U
!. rt M si
.-lsmlsr.1 .HI nf Near Jersey 37 Vi
St I sals Tran.lt l rm.... II M
TMsI Street Itrs. f St. Lrttrta pf.. l (x
Tnnssse prvT 3- n
nlen Copfr i ,
t'nltrd .T ti K
I nlteil Ktalssi -f Mrtleo Krt ll
vbli- KtrM, i-orsr w i;
Cblc.ico Iim"k JlarLel.
!'. parted hy . H. WaHwr . C, N. V.
North Fourth street.
Itteeutt eom 3IVHf 3S
I Vs. iiM M M :
H eitsn.. ....... ........- .-...... J5 2.
l.L l.M KH 1U
Oin eisn w 31.
iw. Md i.-s ra,
.'arbon com 1. M14
is.. tr. s
Ijlkr StreK i ! 4;
MstrofssHtan 17 14
WrrL'i RnnU tirarmgi.
Yestensar's ebstrlwBdssaiea s-tit.mtnt shosirsl
rl.arlnr IUM.V1: hahiaces lllkai. Cleartncs
for the week It.-.!!:.
IThM IX HANK STATKAIKVl'
ifk's, E wills Haw ltwii Sin
;is Would Suwiflv Tol Sen
limeiil of Wall Strwi.
Nr iiiK. t't ?l - To-day V -lok mar
ket j- almost Ine.t tlirnuclwtit. The .ip
pi-araiu-e of thr loink ytatement rauw
Miikki-I nniiirrv Inim iarlv depreyihir.
; Imt the movent nt mere!) fractional
-i.nl n.i ipk ifiatiitMlnm!. th ilolnc i
' Im; ierKular ami Mill v.-ry dull. Th- -I
srve llm In iim liank .-tatemtiit piul
a itirpnr. tli !.. .Im: in i-a.h re-oiiri-rj
Iwinj: r-p..itMl at onl J3.. In far.- of an
.ipitcnt uutv.'.iril mownHnt of -ah dur
ing the -ek nf lietwecn tWAflf! and Jl.-Oit.-.
Hank ollk-ials were somen bat at
Ium to r xi'laln Die itierrepMiH y. but ome
of them asetleI that thfie had lieen i-on-
slderalde revelptu of rurreiH-r from t'hl- i
ijcu ami ine e..t tiurini; trie neeK. anu
tlie explanation was hazarded that N
tnntenienl mlKhl lutve jtniil to olf-tt tht.-
heavy outxo tu Haltimore and I'lt t.hurK j
ami thi -ittoti rrrfiiicL The Litltire o the i
iiixtnmarv denviml lrm Ine Vtt for ur
n n- at ihli svason h u Ik-tii tin- .ulje.l J
if much comment In leinknm inlr hut I
that there should hue In-, n o nidt r- 1
.illi motenreiit in the -ontiarj dtrretiun
In the middle f Octoln-r Is quip- unpre
i'idtiuel. It was MiKK'-ted as wiiiie
thai .-Hal (rirH -iiniinlt li.nl mine
tr.i.i fir of t-ain deiii- t Hit l .ir-it.g-housr
l:idn' uneusv fi-mti; ovt ill.- uar
outlook In the fur ljt n.id -tut lii;lil
eriiet in the i.ieal market, and tn.r- was
a ie,.itiofi r riitiHiiit in rirculatlon f"r
ial iLivs. nhich hati- been asiolttti de
nitit. of an institution in trouble at t.
Iiotii". Then- . n lpott of lo. at
till kllilrra-.urv (o4l.. lor t. Ii ir-irilm-
transf. r to si LouW. The ,,-m.ti ..I tne
(iein.ti 'i lor nomts ua-i a- i on-iiieuoui !- i
. .rui .naM ntui in.. niimiAP , itm.t.i. '
tint's tin th- I..I-.- to. lionit. ex-risinl in
numb r anil vartt tv tbo.r lor storks lor .1
good d'tl of lite lime A re.fsion to it
111 I 111l.1l Mates Ste-I priterreil was tin.
UHFi:unx innuenre at tin 1 !iw There is
Ri-n.inl agrxmrnt in Wall trrt truit th'-
....... .... .... .. u, .H.....
1 it-H k market has orterisl surprising. good
' h. I-. .. ... .K...1.I Al.....-.nn. A.. .. .1.
which w.re uniioubteolv -i-rtous 111 shrir
Tin- apsintment of receivers for two
trust i-oinpaides in llaltlmon . although
not wholly utiexw-cteil. pro-d a shock j
and there was a sirre uecllue of prices
In consciuei'-e on Momlay. Tl:l . was the '
more marked by reason of the consider-
ioiv (r:ii::iiiiiiinis to mc long -ifir ro:ioi7
by professional traders during the latter
part of lHst week, which were hurrlcdiy
throwti back utMin the market on Monda.
Rut Tusilny av a hasty repurcni.e of
Mocks, and the bank failures al Pittsburg
were pra. t Ka My ignored in the tntding.
The conclusion seems obvious tliat tho
ll.Uld.itiii growing out of the llttsbu.g
and Ilaltitmire troubles has been urorerd
ing with thai which has been In progress
at the StiH-k Exchange for months Dur
ing thi. iierlod of greatest depression In
the stock market several weeks since It
was pointed out by Jacob II. Seiiiff. the
head of the banking hrm of Kuhn. Loeb
Co., In an Interview on the situation
for the Associated lress that a demand
for S'-eurltles was likrly to dee!op while
the process of liquidation and contraction
was still In progress In the country.
DEMAND KOI I HONDS.
There has la-en undeniable evidence of
such condition In the stock market this
ws k. more notably in Lie bond depart
ment. In which there lias been a consid
erable absorption for investment at ad
vancing prices. As pointed out by Mr.
rVlilff would probably occur, the pro
lotigid Itqoklttion Ins pnsiisrisi some ac
cumulation of bunking reserves, with re
sulting .ffert upon the money rate. An
other effect of the pns-ess bf contraction
has been to withdraw some of lite ex
pected demands upon the moncj market,
for which resturces had lieen conser-e.l.
This is iruoof llHStdreadcd Heavy demands
fmm railroad terisin.tlotrs for betterment
work already under way. Ilorrowing of
Hits kind at nljh Interest rates was a fea
ture of ktst lull's nionev market. That
it ibis not devekped this fall Ls corrobont-tli-H
of the evidence from other sources
tl'.it sucli worr-s have been greatly cur
talled 111 all Jircetlons.
With tlie prospect of lower rates for
money, the rate of return on many rail
road bonds at present prices has made
them attractive for Investment. In the
case of shares of stock, it cannot be said
that tlie present situation lias extended
beyond a marked cession of the recent
persistent pressure to liquidate. Tliere is
no longer manifest the constant selling on
all news tliat might lie regarded as fa
vorable, which gae evidence for ro long
of the urgent neeils, of large holders of
securities for ready funds. The week's
events In the stock market offer some in
dication of a contrarv tendencv to buy
slocks on bad news. This Is largely due
to demand from an uncovered profes
sional short interest, and has not been
Impressive as an Investment demand. The
failures at Raltlmore and Pittsburg have
not failed, however, tu arouse an uneasy,
feeling over the poslble consequence.
The growth of trust companies has been
one nf the most notable features of the
recent era of prosperity. Tho enormous
consolidation of capital of the last few
jears ami the final operations connected
with then, have exnniid.il the field of op
erations for these Institutions, even along
the lines of their original operations. Rut
Iiekles this their operations have lieen
widely extended Into the banking field by
tlie Increase of demand deposits, for which
liberal Interest Is often paid, while the le
ga. requirements uion lianks for reserves
do not apply to these Institutions An
other field of operations for the trust ccm
IKinles. which has l-en much criticised,
has lieen the promotion and exploitation
of enterprises by undrrwrltlngs. The
tone of the discussion at the Iwnkers'
convention in San Kranciscn is sutllclent
evidence of the frank recognition of abu.s
In ihls fle'd among1 Iwnk and trust com
pnnv officials themselves.
-The controversy between the New York
Clearing-house and the New York trust
companies over tlie maintenance of trust
company reserves has brought the ques
tion to the public view long since. There
have lieen cplsles in New York financial
affairs that have illustrated the abuse an
tlie promotion side. Including the ship
building case, in the public eye. The Ral
tlmore example of the consequences of
overcommitments by trust companies In
rmmotio4i iirnleets tpereiere caused a
keen Impression In the financial world, ow
ing to the doubt of how far a similar state
of BlTalrs might be extended In the trust
company sMuatlon. as a whole. The Pitts
burg ln.-:.l ri ns also examined In lt Il
lustrative aspe t.
(UllU'TH OK WEALTH.
The enormo-ja accretion of wealth in
Piltsburz of late ears. growing out or the
consolidation prociss In the Iron and steel
Industry, is tnturkHis In the financial
sr.srM. The large extent to which Ibis
new wealth has gone Into bank extension
is. also generally rmusnlzesl. The terms
upon whb li deposits may have been at
tracted: to ne.v Linking Institutions s
brought forwaid for consideration by the
failure of the Pittsburg Isink. brought
about by the witlsirawal of deMits by
small country banks, which had been se
cured by the rate of Interest allow, d on
deposit accounts. The routine events of
the week have Is. 11 favorable. The export
demand for grail, his been liberal and the
movement of cotton to market has lieen
much freer. Heavy currency shipments
In the South Have resulted, but the move
ment 10 the W.-st s.sm to be restricted
still, with the ultimate demand from that
Railroad officials claim undiminished
volume of traffic and complain of car
shortage ami freight congestion. Rut ex
pert opinion holds that the present freight
movement and that for several months t
come represents business nlready done
ami estimates a probable falllnj; off In
the spring and a coming reaction. Kr
Uiat reason tlie pnent ear shortage Is
not expected to lend to demand for n-w
equipment. Authorities in the Iron and
steel trade see no Improvement there
No considerable Influence was nrolueeil
bv the tote weakness In Amalgamated
Copner growing out of adverse drdslors
to shut down the properties affected pend-Ina-
a derision of the miration In Anril.
The b'eadlh ami activity of the Imnd
market have been pointed ouL United
States In advanced .. the Is ami okl ami
new 4s " per tent over the closing call of
Reported by Whltakrr A; I'K. exchange brok
ers. is rswin ",v,
New in lea as..
Local Money Market.
TraasaHlsHs at th banks wre In fetr iwl
ante. Ilsv.Mt tatts were steady bets. en,
and t 1 rest.
IT GROWS WHILE YOU SLEEP
Wf Hill Menil flttt t, i lock MititiK, llmiL IILr lhl -ut If nu ilepnlt
imt lex. limn ONE 11(11. l.R Tilth Hi. lour ilriHiIt run lir nrnl nfelj
l) mnll li. rilhrr Ii) 1'iitt
tin Ilk llrnft. or
And Compound it
8 BWSLlipil- j llanklng oy MalL"
tt ""slil ijft''" " ' 'n oni- nf th-
e" MjA-ViJP0 3 ,n'' ilJ'ld ofT..
Wrfft I-ill ..nc-. ii St Ija.
i-i. d t - Tr .-n lt,,i in.s
llnr ni(-iif-tii,.. iteiio.Ifur
nre Inillril In hflle llirlr
tntrM Trnnl lluIldiiiK sn.il innUr llnoui otHS lirniliti.nrlrr-.
llrio.lt. Xrerplrd from Our llollnr up to I'lftj 1 hou.a.lil llnllnr..
-HM.I. iiKi-o-ir- i:-im:( i i.i. iikmukii.
Open Monday EiEnings Till 9 O'clock (or tha AccornioorJation of Depositors.
United States Trust Oo., of St. Louis,
Unlltd Slilas Trull Bid;.. H. V. Cor.
GREAT WESTERN 00LB COMPANY !
BEST IWeSTHEXTIX THE WOULD TO-Otl.
Miaft ooKO-ft level nortliwo- ore Ixuly df-wn I to fee. ..en r.-tlir richest ore now
lhitetr ante from tht Mine. Lower nnri and snu trr Ii ing rosjrij to --omptetlon.
Vow bulldlai asrron- raure raliway -a . n-ro Mines cti r nas .m upiHirtttnltj pre-M-titrd
in the world that would equal lireat Ueiiern forran U profits
U.ten (IrcMt Htturn It zolagto mates ttlrtathlt old town that will beat Granite
Mourulalatitrptlmleitttar- You can bare a tian -t to share In the xlory am. the
profits Uv'Miving titm-k to-day at 10c per share. The par va.ui. uji. (ally paid and
noil .sirssaii:? Tli's is one of the Mining, "nipinln that f. run tr the Interest t the
stockholders and o.ns real mines We have alwa tvnresiutiil facts tu you; oar
advue basU-rngissl buy flreat Weitern while It Jatfs af Oc
il ruljt rr-rviil Market Letter 1 rce Ikith I'honci.
T S. HENDERSON i CO., SOS-7 COMMERCIAL CUIIDING, ST. LOUIS. MO.
MANIPULATION OF WHEAT
DOMINATES GRAIN MARKET.
DECEMHEK OPTION AD
VANCES MOKE THAN CENT.
Corn Is Firm in Face of Soinr-
what Lnnqniil Tnnle Oats
Chicago. Oct. II. Manipulation of Dee.
wheat at St. Lours was the dominating
Influence In the grain market here to-day
and caused a sharp advance In wheat, the
Dee. option closing with a gain of mtr
I'sC Dec. corn was up c. oats were c
higher, and Jan. provisions were from Mc
to 124c higher.
Ruying of both Dee. ami May wheat by
hiuses with St. I.oub connections was the
feature In the wheat pit. ami tlie demand
from that source became so urgent with
only light offerings, that the market was
strong throughout the day. Local traders
showed more disposition to buy than for
some time past, although tliere was noth
ing In the shape of news, to warrant saeh
action. The only semblance of bull fac
tors was the possibility of war In tlie
Orient, and the small movement in the
Northwest, but thi was sulllclent to
create a strong demand. Dee. opened '.c
lower to c higher, at Sc to S9SC ami
soon after the opening when the price of
Dec. at St. Louts began to advance by
big strides, due to the congested condi
tion of the market there, tne rrire here
followed suit and ruled strong the re
mainder of the session. The high point
was reached Just before the close, when
Dec. sokl ud to Sl'sC. The cose whs at
SlUwSrV'. a gain of Pkbl'ac for the day.
Clearances of wheat ami fiour were equal
to JTiloJ bu. t'riroary receipts. ri j.
657 3T bu.. against IJSiSO Im. a vear ago.
Minneapolis ami Duluth reiwrted receipts
of I cars, which, with local rcrefcits of
SI cars none of contn-ct grade nude
tutal receipts for the three point of 7I
cars, against SO cars lat week, and J3
cars a jear ago.
Corn was firm In the fare of a some
what languid trcde. Smaller receipts th.in
estlmatisl. strength In wheat and a falrl
gissl shipping demnml were the main sup
porting features, ftsh houses wen- buv
ers of loth Dec. and Mnj. ami there was
a'so gool buying by rommUslon-houscs.
After selling between ll'.e and 4l.e, Dec.
rto..xt with a gain of 3;c. at l-.'Vr. Ii-al
ns-elpts were 3H cars, with S 01 contract
Oats were Influcnceil by the bullish sen
timent in other grains ami the market
show isl a good advance. There wus con
siderable anxiety on the part or local
shorts to cover and offerings in gem ml
were light. D-e. closed with a gain r
s,c. al V. after ranging belwcn JS'e
and 3sss3Sit. laxI receipts were ST
ItA.NGt. Ot 1-liTUlitiS.
Open. High. IiOW. Cass.
IKse new SMi in - MlJtyis
May .... 7H "s 7r. Tf.So"?,
lire .... ' '"I. 4IVJ. 41
May 4tSUS tWssr. lA 43S4.H
t;.c .... Ws 3s.4rs . '
Jl .... . Wt '.
v,';,.l,o:k.. Rj-. r. r.s us
Jan. ... . ll.Wsi It-lS ll.7, K.1I
May ..... - W.H K- Vi
tr Jti - -3i
rw ;.:.: .; jji .s-. .S7
Jan s-13 -5.
May ... . . S-?1! 1 .
Short HR.S . .
2S- .::: i-s i i i
My .... - s7- -H -7i
RKCEIPTS ANI "MIPMIT-v
Corn. is. -list",
Rye. bu. ..
Ribs for Oct. ' Hvcry liad a sharp hreik
eiirly In tlie day. out later reacted, reeov- '
erlni- all of the .-arly loss. The Imtance
of the list was firm throughout the s.-s-.lon.
the strength In grains being the hief
InHuence. Jan pork closed 3c hlgher.it
Il-ls. Jan. li.nl was up 15c at eS.7. while
rib' wen ! hlgt-er at JSJtS.
Estimateil -erelpts for Monday: Wheat
C ears; corn 1S5; tats 3": hogs 31, head.
Wnll Mreet tiusslp.
Report.. I by the New York Commercial Ad
re.tt.er. through Francis. Bra. . Ca.. 514 Ninth
F.Kirth streel- ... . .
St IXMir.. Oct 24.rorHcn The Imdsi mar
kets were afferle.! by the alarmist reports from
the far Kat Amerlean rame hiwer. Arbllrace
hou.es s.4rt a few stocks, not more than ".
shares In all.
I m si men t Buying The one featnre of Hie
situation to which the bulls most freiueml
railed attention was the atssirntlon of securi
ties by lnvesor. Manv t-H!e have sakl alt
wlsg that they would not turn bulls entll they
saw an Increase.! itemaml for bonds. Imd
dealers report a decidedly better demand both
In listed ami toillstrd hoods, boeal lateMors
hare houiln, and o-M-of-town Institutions hare
been purchasers. The nvsrt netewwrthy demarel
was for the strtetly myestment issue tie
sis-eumtlve leivsls ruetuatlna- wMh the so.-k
market. The better aradesi. howeyer. ruled
stnesc. even when the. stack market was -arrtooary.
Vmalcamste,! roister Of cour-e. towanl the
enl of the week AnMSsamatrd VHsr bel the
center of the speeusstl.e stage. To the s4re.
at large the Iletnie vktsry was a surprise, but
tlftlrf Order. Ihprria llrilrr. (. Iirrk,
li UrKlxIrrril Hull.
Tl -. will In
dent liy I Tprri' 'r
U 1 I'n-pibl If
rlt t III ir t)l1 kiBaLdaHi
X' ., . -oi k . ill I UEI. f He-TOiilor-s
itliilr 1-ltlllC ll. "!- l.oilli.
.iit.II aililreoeil enreiif I tllteil
Bdw'y and Iocs; St, SL louls, Mo.
all the vtatsr.ints put nil h t'ts pres acrn
ei prrumat l l .!!- ti..n -t .Jtlel.-a lal I
stress n 1 1.- fact t-ut Jii.ig" Ian. v .lii-ir-wi-ir
not unrxrsit. It th insi'l rs .nti-r'nr
gen.rulb had twx Isn bullish ..n v 1 1- nf
lale and th- ordi r sai.l to ha Nsi-n glx.n t
II II. Roei-rs to stupind all w..rk n. ih
mines and smeltT caiasil a rush of selling fir
Isith amsunts. The r"m traders are now ik
Ing how low the rootrolltng interests would
let It sell.
Ilond Jinles ut evv Yortc.
New York. Oct. 2I.-Sales of bonds wsre tra.Ie
berr tofay as follows:
ll. A.. T. .t S F. gen. 4e lf.u.
7.v.i R & o. prior lien i!- 1; te '.
i'Os KaHlmorr A Ohio 4s sw-.u!". I
Km K. .1 o s w. div. m.s n tt K
r.oei k. a.- o.. litis. I. ll i w.
Va. frs s-i
. .-hsracn S. AMon Hs T-.
isss.-hh-aco & Alton 3a ;
Kass .. B A Q . urtt Nor. I'.-ilt
Nor. otnt 4s 4 334
4.v l. R. I. A Par. It It coll
tr. t 7T,ft K'.
K.6. .Vie. Knel Ai Ir.m isinv. Sa ... 7; tr 71'
UtssK-onsoUaated Tolsiero 4 SO i(
I.s Pt. W Jt lienor - 1st Cs . 7."
l. Mexlran .Vntral eontjL 4s ... 71
!.) M.. K. & T l.t 4 !ir.
S.U Northern l"artflr rn. 3 TOStr t1.
37.m N. rthern PaclHr prior li.n 4.. loji.
fs.sss otrrm short IJne t 'P.B 9t'
3l.St. I. Ai I. M. gen. ir tlI1tilll"4
It.sso I. . I. M. onif. Ai rrf. 4s. V.-.W Ss
... St. t. S K tof 4 KMr I
E.i. Sisilhern Hallway Z lUttiflU
1 . Sotithern Rv . M & o. colt 4s. srn ,
5.s I'm. n rariik lt 4. pc
Ii". I'nlon Parlrk- tat conv. 4s K Su-
3.M Wabash 1st IK Hit",
WaSai deb. series B Jl'41 54
r .m VVIscinaln .'entnil gen. 4s 9'a
Tital sales. SI.MS.oaa.
Wnrrnnt Charges Grqnd Larceny.
A warrant charging grand larceny was
issu.il yetonhiy against John Regan,
who wa. arrested Kriday suspected of
stealing eight dozen fountain pens from
the Skinner & Kennedy Stationery Com
pany, on Septemlier IS. Tho pens aro
valued at '.
Alnrpblne Cnnse.l Woman's Death.
Cella Hensehen. employed at the La
clede Hotel, was found dead In her rwm
about 9 o'clock yesterday morning Her
death was reisrte. to the Coroner and
an inquest will Is helib Morphine was
given as the cause of her death. ll Is
believed she took an overdose nf the drug.
The North American
OF THE UNITED STATES
FOR ITS FIRST EIGHTEEN FiiONfrlS
AI'KIt. t-t. fWi
JI'LV 1st. !..
fXTORKIt 1st. 1.
JANUARY 1st. IX
ATRIL 1st. Li5.
Ji'i-r 1st. tv
o-ruiiEi: ist lis-
Depositeil with Treasurer of Missouri for
the Protection of Investors.
Hlgh-rade Ri nds. Interest and princi
pal payabl. in gold. Sold on partial pay
ments. Kor imnlculirs address .
504-516 Odd Fellows' Bids., St. Louls.Mo.
WHERE YOU ARE LOCATED.
Send for Booklat Explaining How It
CAH BE DONE QUICKLY.
ue-m.bi: in cnlisti:i w:cci:itiks.
Dr.xci ru rniLvriEi.i'iiiA. r..
"I I- I V
V. I.L. STItF T T
-I r' T-tTtlc tn
iir; i.Mir i;virii r.i(i ii"
i j..-...- ... ... ..... .. ... . --- -
IM)lTH!AI. !tIIA t
and (n iUr it -jri h nil ,) t n
J I- nilITt cr ai! trs i nw
JONES, CAESAR & CO.,
-...-, ACCOUNTANTS, o...-
Mock Kirlianae llnlldlng.
Telepliones Rell. Main 170; Klnloch. A 335-
izti tofli, cHicieo, nnsaoas, ioxcqi