St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-07-12
DIRECTORS.
FINANCIAL.
New York.

New YORK, July 1.-THE stock market
to-day was a fitting eud to a
most intensely dull and uninterest-
ing week at the stock exchange and
the dealings were restricted 10 the smallest
limits while almost utterly devoid of feature.
The demands from the shorts with little
new buying served to keep prices moving up
ward in Il lisJleSs sort Of Il manner, until the
issue Of the bank statement which created
rather a disappointing impression with its
small loss in surplus reserve and immaterial
losses in other items. The only movement
of note was that in c. - c. d st. l., which
rose rs per cent on rather large business for
that stock but afterWard lost the entire i'm
proyement. The rest of the list were held
within the narrowest limits. and only ST.
Paul, Atchson, Burlington and Louisville
showed any animation whatever The
industrialS and silver certificates which
have monOpOliZed so large a proper
ton of attention lately, were quite neglected.
The opening was firm, and further advances
of from Is to u per cent were scored. but the
late trading neutralized these gains 10 large
extent and the close was rather heavy at
insignificant advances over first prices. The
final changes are in all cases insignificant.
Railroad bonds we're relatively more active
than stocks. and displayed more decided
firm tone resulting in some material gains
among the inactive issues. Among these
Houston & Texas is rose 2I2 to SIP. The
sales were S4S1.00o, Government bonds have
been dull and firm. State bonds have been
neglected.
The Post says: AT the present moment
the financial markets are practically be-
Gained The outlook naturally favors the
bull side, but the bulls are showing no dis
position 10 take advantage of the situation,
and there is practically no outside interest
The ease in the loan market is largely an eff.
feet and illustration of the reluctance of bull
operators TO venture far into the market and
hence is not altogether legitimate argyll
ment on the Dall side. Thus far the only
really noteworthy result of the heavy July
disbursements Is a tendency among lenders
of six months money TO lower their rates.
This change has been slight but percepuble,
and does not indicate a belief on the part of
lenders i'll great speculative activity later on,
and a CONSEQUENT squeeze in money. To
days bank statement. as was foreshadowed
in this column yesterday afternoon, showed
relatively small change for the week in cash
holdings. A brief summary of the statement
viii be found elsewhere on this page. To
the street the statement was disappoint-
ment for q considerable increase was
very generally predicted. The market,
however was too dead to reflect
any such feeling. Much curiosity has
been expressed as to the reason
for limiting the offer of new Louisville
stock for shareholders subscription to 81,
800, 600, when SL000,0J0 had been authorized.
There ought to be no WOnderment on this
score. The s. $50 900 which will result from
the present subscription Will a little more
than pay for the Kentucky Central stock
recently acquired. which was the only i'm
mediate requirement. There is no reason to
suppose that the Louisville will have oc-
casion before long TO pay for other stock
similarly acquired; but it would be obviously
bad policy to sell the rest of the authorized
stock at the present low prices when the
cash is now needed.