The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1896-08-02
THE STOCK MARKET.
The Week Closes with Marks of
General Depression.

NEW YORK, Aug. 1-TCday's stock market
was dull and professional, the only stock
that reached even comparative activity being
Sugar That stock also displayed the widest
fuetuation. Early London prices came
slightly above yesterdays local closing and
London was also moderate buyer of Luis
will & Nashville and st. Paul in the market
The only developments that could be con-
sdered to exert legitimate influence upon
prices were reports of a spread in the area
of rate-cutting in the Southwest and the
was unfavorably regarded by the room trad
ers, it being claimed to show evidence of
boarding OF money. Well informed bankers
declared that the contention was not justi-
fed The opening prices were generally
higher on purchases for both accounts. Chi
cago Gas rose Ia at the outset, but the
other gains did not reach a full figure. The
market soon became irregular, and finally
on realization and liquidation in the low
priced shares, prices receded all along the
line. The downward movement was acceler-
ated by offerings ofuheavy blocks of Sugar
depressing it's price Us from the early high
point. Chicago Gas scored an equal extreme
loss. burlington and Manhattan dropped
~; New Jersey Central IA; Louisville &
Nashville rs, and Tobacco and st. Paul. /
per cent each The closing was at the low
est points at general fractional losses Condi-
lions affecting the values of stock exchange
securities have not materially changed during
the week. The street still attaches peculiar
interest to the toneEof the limited market
for American securities In London, and at
least upon one occasion the prices at that
center were generally believed to have been
manipulated on orders from this side.
Considerable stress was laid upon the
failure to float the Nav York city and Brook
lyn bonds and the increasing frmness of the
money market. The. accommodations ruled
high and the reactionary tendency Of gen.
eral trade reflected in higher rates for
commercial paper and lessened inquiry
The treasury situation received less attention
owing to a clearer appreciation of the mag
nitude of the preparations made by capital
lists to maintain the financial equilibrium
Manhattan was hammered, on reiterated un-s
favorable rumors regarding the forthcoming
quarterly statement and the dividend pros
poets. Liquidation Iswas, on an extensive
scale in some Of the low priced stocks and
free offerings of other speculative bonds by
London was a feature. The losses at the
low level ranged from 8 to per cent in the
general list, with the heaviest concessions
in the high priced stocks The bond market
ruled dull but generally higher. The fea-
ture OF the week was continued foreign sell
ling and decided heaviness in the high pric-
more noteworthy declines extended to 8 per
sas Pacific consols dropped 6M to co. but
rallied to s.. Ohio Southern firsts sold off
~ per cent to 7015 and closed at rs.
Government bonds were a Shade lower
early in the week. but stifened to about
last weeks closing. The sales were s240, $50.
Silver certificates were dull and irregular
closing 1-S per cent lower The sales were
137, 900.
The following were the fluctuations in the
leading railway and Industrial stocks yester-
day: