The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-07-06
MARKED GAINS WERE RECORDED
IN SEVERAL SECURITIES
WHILE ALL ARE FIRM
ACTIVITY Is DISTRIBUTED
1t Extended Pretty Generally
Throughout the List, and During
the Day Even Reached Some of
the Goats and Dogs on the
BOards-SatisfactOry Explanation
of the Shipments of Gold.

NEW YORK, July 5.-The market for
stocks continued notably strong today
and much more active than the upward
movement of last week. The activity
was very widely distributed, extending
pretty generally throughout the list and
during the course of the day extending
even to some of the "cats and dogs" on
the list. The general strength of the
market was maintained in face of a real
izing movement in the stocks that were
most conspicuous on last week rise, not
ably Pennsylvania, New York Central
and the Vanderbilt gorup generally, in
Guiding Northwestern and Omaha.
There was no very heavy pressure of
liquidation in the stocks, but there was
no effort to hold up their prices and a
number of them show losses of q point or
over. There was realizing movement III
grangers also, but the vigorous strength
of St Paul revived this group and
brought new buying through commission
houses. st. PauPS extraordinary gain in
earnings for the fourth week in June of
about 100000 over the corresponding week
of last year was the main motive for this
buying, though the general outlook in the
wheat market induced general covering
of shorts. The line of shorts put out on
the grangers on the early belief in the
ruin of the wheat crop is understood to
have been very large and no small part
Oh the present SlIGIlS III VI lll6 anger
group is attributed to the covering of
these shorts. Atchison preferred was
very markedly affected in the same way
and rose to 6C3sc. Rock Island Jagged in
the movement on the disappointing May
statement Other railroad stocks show
inG conspicuous strength were Illinois
Central, Southern railway preferred,
Northern Pacific and Erie first pre-
ferred. The strength of these was on
buying for London account. Mexican
Central was in large demand and late in
the day the Coalers rose l to IA. Bears
who had sold Brooklyn Transit in eXpec
tation of a Fourth Of July strike were
eager buyers to cover short contracts and
advanced the stock at one time nearly
four points.
The rise in Sugar extended to nearly
five points. Other specia!ties which rose
strongly were the Tobacco stocks, Steel
Wire. Tennessee Coal, Peoples Cas- In
ternatiOnai Paper and Anaconda. There
was some hesitation in the early trading
on account of the failure of the money
market to case off as was expected to
do under the July disbursements on inter
es- and dividend, but later in the day call
money fell to per cent. 1t is now ad
mitted that the recent gold exports have
| been directly due to borrowing for the
purpose of easing the German money
! market, which WAS in urgent need of it
London statist estimates that the terms
upon which the money has been borrowed
in New York for Berlin account have
been equivalent to a rate of to 611 per
cent for a small portion of the money
| that market required to tide over the
pressure Money is now expected to flow
back to Berlin on account of recent spacu-
lative liquidation, and the critical period
there is believed to be over.
Discounts in foreign markets were gen
orally easier today. There was a large
demand for the Erie general mortgage
bonds and the st. Louis Southwestern
/ seconds. The Erie bonds gained 11z and
the St Louis Southwestern 2 points on
the day.
There was a good business elsewhere
and prices advanced a fraction Total
sales, par value, s., 800, 900 United States
ola As registered advanced nc in the bid
price.
STOCKS.
Furnished by Charles H. F. Smith &
Co, members of the New York stock ex-
change, Pioneer Press building, who have
special wires to Chicago and New York.
Closing prices are bid: