The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-07-18
STOCKS WERE NEGLECTED.
Lower Prices Prevailed Despite
the Victory at San
tiagO.
--'- FINANCIAL. SUMMARY.
Bar silver, New York. 1915 59A
Call money. New York. ~ 1A@12

NEW YORK July 16.-WaII street appa-
rently remained unconvinced today that val
ues Of securities had been increased by the
icapltuiatlon of Santiago and prices stub
Dorniy refused to advance in the face of
that even. The upward tendency of Ameri-
cans IN London was viewed with apathy, and
Inc Few advances at the openeing hour were
not up to the London parity. The accumu-
lated orders in commission houses were Of
very small volume. the outside pubic be-
than speculation in stocks. The bears were
confident and aggressive, and were prompt
10 take advantage of the absence of buying
demand TO attack the market. Sugar was
the first point of attack. and tie price Yielded
quite readily, but only small quantities OF
STOCK were dislodged by the decline. The
weakness of the eoalers, which had persisted
al week, continued marked feature. There
Is no doubt there has been liquidation of Icing
stock IN these companies on account of ac-
cumulated troubles of trade. There is but
sluggish demand for even the curtailed out
put, and the companies find themselves at
odds over the maintenance Of prices and d.
vision OF territory The plans for the con-
structfon Of new road from the anthracite
region to the tidewater had a further unset
tllng erect. Delaware Hudson was easily
torce9 down 21s points. and Reading 1st pre-
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 hank
statement is not readily Analysed The de-
crease in cash Of 81, GAG 800 is practically all
accounted for by the gains of the subtreas-
ury during the week, on accoun: OF the bond
subscriptions. The governments gains on
TINS account are not reflected in the depssti
average of The banks. as was the case last
Week. the loan expansion is considerably
curtailed but still reflects a 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 " VI
The government crop report caused some
depression, owing to declines in condition
compared with the previous month, in spite
OF high average compared with former
years. and on estimated crop exceeding 6OO
0o0.oO0 blu of wheat. The hesitation of The
stock market Is due in no small part TO the
enormous exports and the high prices of ;ast
year. with which comparisons for this wear
VIII have to be made. United States old As
coupon. declined IA; the new 49, coupon /.
the 5s coupon, s.: the 5s registered. and
new As. registered, l. and the old As regis
tered, u in the bid price.
Total sales of stocks today were 1oa on,
SHARES including ds1 6slo Atcaison pfd; $40
burlington; S.o6o Manhattan; zoos Mearopole
tan: $50 Reading pfd; 3,i20 Rock Island.
4, 10 st. Paul; $3.50 Sugar
The following were the fluctuations of IN,
leading railway and industrial shares fur
nished by c. H. F. Smith & Co.. members
New York stock exchange and Chicago hoard
of trade: ooaru