The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-07-18

NEW YORK, July 1.-THE stock mar
ket today was an aimless and insignia
cant affair, except SO far as the dullness
and neglect were significant of the doubt
felt in many minds over the money out
look. Operations were strictly confined to
professional manipulation by the room
traders. This kind of trading resulted in
only trivial net changes most of which
were on the side of losses. The range of
prices was quite wide during the day,
many stocks at one time rising a shade
over Saturday, and then dropping from
l to points. The latter portion of the
day was devoted to a desultory covering
movement which reclaimed most of the
earlier losses. Even Brooklyn Transit,
which was the center of the days weak
ness, recovered to within Bc of Satur-
days close, but yielded sharply to bear
pressure in the final dealings.
Labor troubles played a large part in
the days market, Brooklyn Transit be-
Ing most conSpicuously affected by rea-
son of the strike among it's employees.
The stocks opened off 1Mc, and Man
haitian and Metropolitan Street Railway
were keenly affected in sympathy, the
former losing NC, and the latter points.
brooklyn Transit was very vigorously
supported by inside interests and quickly
rallied point, giving the short interests,
which is supposed to be large, small OPP
portunity to cover. Later these stocks
fell an extreme "a, when the news came
that the street car strike in Cleveland
had been renewed, as it was feared this
might presage a general sympathetic
strike. Peoples Gas and Federal Steel,
being Flower specialties, were depressed
in sympathy with Brooklyn Transit Fed
eral Steel dropping an extreme IL New
York Air Brake also broke IL points, and
after vibrating wildly, scored a full re-
covery.
American Smelling moved upward on
the decision of the Colorado supreme
court against the constitutionality of the
states eight-hour law, the conflicting in
terpretations of which led to the smelling
strike. Tin Plate moved UP on the wage
scale agreement, and the advance in the
price of the product.
The late weakness of Brooklyn Transit,
and the break In Sugar of nearly 2
points broke the most active selling
movement of the day, when net declines
reached a point in a number of cases,
including the Changers and Atchison pre-
ferred, and in New York Central reached
1850
The failure of the call money market
to weaken, in spite Of Saturdays favor
able bank statement caused uneasiness
regarding the future. Most of the day 9
loans were made at Az, and the rate
weakened to only after most of the de-
mand had been satisfied. Rumors Of
financial difficulties in London caused
doubt and hesitation in all the world g
great stock markets. The private dis
count rate there rose to 3A per cent, and
demand sterling and cables here advanced
Y. There were very persistent rumors
that gold would go from New York this
week. Transactions in the local stock
market for London account were, how
ever, Insignificant. The absence of any
announcement of gold shipment by to-
morrow's steamer was factor in the
late recovery of the market, which
brought prices generally back to near
Saturdays close,
The market for bonds was dull and
heavy in sympathy with stocks. Total
sales. par value 81 $4,000. United States
IS advanced " and the old As registered
Il in the bid prices.
STOCKS