The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-03
ST. PAUL 4 LEADER
BEST STOCK OFF THE NEW YORK
MARKET IN POINT OF AC-
TIVTTY.
BUT LITTLE OF ANIMATION.
THE SALES OF SECURITIES SUI
FERING FROM A VERITABLE
MIDSUMMER DULLNESS.
WAITING IN TRANSPORTATION.
Leading Shares All Firm, But the
Days Trading Without Spe-
cha. Feature.
BUT LITTLE OF ANIMATION,
WAITING IN TRANSPORTATION.

NEW YORK, July D. a veritable midsum-
mer dullness settled upon the market for
securities today and further step was TAX
en- towards the stagnant condition to which
the market has seemed to be coming for
two days past. There was no feature Of
significance or Importance during the day,
unless the hypochondriac's idea be adopted,
that the absence of all symptoms must itself
be symptom. Dealings were very much SIN IL
than yesterday for many days past, va
riations were small and unmportant, and
no animation was manifest at any point in
the market. The prospect of only half a
day Of trading tomorrow, followed by double
holiday, doubtless had its effect in curtailing
operations and discouraging ventures upon
new operations. But this was not alone suf-
ficient to account for the markets conspic-
uous loss of tone and apathetic condition.
The heavy liquidation of Monday and Tues
day was undoubtedly an indication of a wide
spread conviction that the upward movement
had reached the limits Of safety for the
present, and today's market showed even a
more marked disposition than yesterdays to
wait for an adjustment to the new conditions.
The waiting and the semi-stagnation were &C
companied by quite a marked firmness Of
tone in nearly all the leading stocks. st. Paul
continued the leader Of the market in point
OF activity, and was firm and strong, COM
paratively, in spite Of selling Of the stock
for London account. This stock has been
gaining on Burlington all the week. and to-
day overlook and crossed it, closing above
it. This was in consequence of the contin-
uation OF the movement on the part of deal
ers to transfer their holdings from Burlington
into St. Paul.
Most of the business of the day done
in the first hour of trading as a result of
nr6p 10 tod nieyht tho nfo oil
sales of all stocks for the day fell below
10000 shares. FouY-sevenths of this amount
must be credited to st. Paul. Sugar, Bur-
lington and Chicago Gas. None of the lead
ing stocks ranged as widely as point ex-
cept Sugar and the leading industrial stocks
and some of the coalers. Leather preferred
rose a point on reports of a plan to refund
the duty on hides which are re-exported as
leather. The small net changes are di-
vded between gains and losses in the prom
inent stocks. Rio Grande Western rose
point and the preferred stock IA without any
news to account for it. The bonds of this
company were also active and strong. Spirits
preferred fell off ~. General market condi-
lions remain unchanged though the addi-
ton of dividend and interest disbursements
to the already existing surfeit Of money has
not resulted in the stimulus to speculation
which was hoped for. The narrow movements
in todays market were to large extent due
to professional manipulation, such results be-
ing easy OF accomplishment IN Such a restrict
ed market.
The bond market developed fair degree
OF activity, but values were little changed
except in few issues, in which special in
fuences operated. Business was generally
central in the leading mortgages, but it is
worthy Of note that no transactions were
registered in Northern Pacific thirds, which
usually absorbed considerable of the dealings
The aggregate sales were $1,424,0o0. Govern
ments were steady. on light dealings aggre-
eating 81, 800
The total sales of stocks today were 1888 529
shares, including: Sugar, 5,4O0; Burlington,
II 7G0; Chicago Cas- 1900; L. & NJ, $500;
Mail, 1900; Reading $500; Rock Island. 1000;
st. Paul, Al, 200: New Jersey Central, 1900.
The following were the fluctuations of the
leading railway and industrial shares fur
rished by G. II. F. Smith & Co., members
New York stock exchange and Chicago board
of trade: