The Saint Paul globe., 1898-07-17
STOCKS WERE NEGLECTED.
FINANCIAL SUMMARY.
| Bar silver. New York. .591s 59A
Call money, New York. Ia 1A@11a

NEW YORK. July 16.-Wall street appa-
rently remained unconvinced today that val
ues of securities had been increased by the
capitulation of Santiago and prices stub
bornly refused to advance in the face of
that event. The upward tendency of Ameri-
cans in London was Viewed with apathy, and
the lew advances at the openeing hour were
not up to the London parity. The accumu-
lated orders in commission houses were of
verya small volume. the outside pubic be-
ing apparently taken up with other interests
than speculation in stocks The bears were
conndent and aggressive, and were prompt
to take advantage of the absence of buying
demand to attack the market. Sugar
the hrst point of attack, and the price yielded
quite readily, but only small quantities of
stock were. disiodged by the decline. The
weakness OF the coalers. which had persisted
all week, continued a marked feature. There
is no doubt there has been liquidation of long
STOCK IN these companies on account Of ac-
cumuiated troubles of trade. There Is but
sluggish demand for even the curtailed out
put, and the companies find themselves at
oaos- over the maintenance of prices and di-
struction of new road from the anthracite
region to the tidewater had further unset.
tllng effect. Delaware & Hudson was easily
forced down 212 points, and Reading 1st pre-
ferred and New Jersey Central also sufrered
material declines. The bears were also busv
with Manhattan. There was obvious in.
crease in the short account, and no apparent
EFFORT to cover it over Sunday The bank
statement is not readily analyzed The de-
crease in cash of S4,049, 900 is practically all
accounted for by the gains Of the subtreas-
ury during the week. on account of the bond
SUBSCRIPTIONS. The governments gains on
thls account are not reflected in the dep,sti
average of the banks. as was the case last
week. The loan expansion is considerably
curtai!ed but still reflects good business
situation. The legal reserve requirements is
very little changed by reason of the small
decrease in deposits. so that the decline in
cash Is almost all reflected in the decrease of
surplus. "a
The government crop report caused some
depression, owing to declines in condition
compared with the previous month in spite
OF a high average compared with former
years. and on estimated crop exceeding 600
0e0.0OO bu Of wheat. The hesitation cf the
stock market is due in no small part to the
enormous exports and the high prices of asst
year. with which comparisons for this wear
Will have to be made United States old 4s
coupon, declined IL; the new is, coupon /:
the IS. coupon. %; the IS registered, and
new As. registered 1, and the old 4s regis
tered u In the bid price.
Total sales of stocks today were 1Os sno
shares including 6.Sl0 Atchison pfd: s go
burlington; $3.50 Manhattan; COOS Metronolie
tan: ,29O Reading pfd 3,120 Rock Island:
4.Ll5 st. Paul; $3.50 Sugar.
Inc following We're the fluctuations of tho
leading railway and industrial shares fur
nished By c. H. F. Smith & Co.. members
New York stock exchange and Chicago board