The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-07-21

NEW YORK, July 20.-Today's stock
market continued narrow and profession
al, put there was an improvement in the
tone Of the speculation. In the late
market rather active buying move
ment started and prices rose to the top
level OF the day, gaining point or over
compared with last nights prices in
many cases. There was an early reac.
ton, which was encouraged by the vio-
lent slump of New York Air Brake, and
and extreme drop Of points in Consoli-
dated Gas. There seemed to be an en-
tire absence of commission house buying
and London, although prices of Ameri-
cans had been advanced there, refrained
from operating here.
The course of the foreign exchange
market with reference to the easy
money conditions abroad was closely
watched and when sight sterling and ca
bles were seen to be yielding it afforded
considerable relief from apprehension of
gold exports. The fact that the Bank
of England refrained from advancing it's
rate of discount was taken as. evidence
that the threatened money stringency
is about over at that point.
Money worked easier in New York, but
continued above the rates prevailing at
interior points. There was some growth
of a conviction that money was not to
become cheap for a considerable period
yet, owing to the needs of the very &C,
tive trade and the coming movement of
the crops The heavy increases of bank
ing deposits at some of the large financial
centerS of the country are not under
stood to be due to the great conbina-
ton of industries and the resulting re-
adjustment in business methods which
have, it is believed, reduced resources
at some smaller points in a degree cor
responding to the increase at the great
centers.
There was some continued uneasiness
over evidences of unrest amongst wage
earners. The strength of the local trac
ton stocks helped to dissipate this SELL
ing. Brooklyn Rapid Transit and Man
haitian gained about point net and
cash sales of Metropolitan were made at
5% over last night. This stock also
sold eX-rights of subscription to new
stock at a uniform level of 10 points
below the cash sales. Consolidated Gas
recovered all of its earlier loss and
New York Air Brake all but two points.
The early strength was not held in
some of the industrials, notably CONT
mental Tobacco and the Steel stocks
Pittsburg, Chicago, Cincinnati & st.
Louis was marked up five points on the
June return of earnings and an upward
movement in Cincinnati & Ohio Mis-
souri, Pacific and Chicago, Cleveland, Gin
cinnati & st. Louis spread to other rail-
road stocks, including the Changers,
Southwesterns, New York Central, Union
Pacific and Atchison preferred. The
average gain of these Appropriated a
point. Chicago Great Western deben-
lures lost IA from the last sale. Leatb
er preferred was in good demand. The
closing was dull, but firm.
Bonds were very dull and rather ir-
regular Total sales par value, $685.
600. United States threes coupon and
new tours registered declined Is, while
the fives advanced Is and the old tours
coupon 4 in the bid price.
STOCKS.
The following were the fluctuations of
the trading railway and Industrial shares,
furnished by c. H F. Smith & Co., mem
bers of the New York stock exchange and
Chicago board of trade: