The times. [volume] (Washington [D.C.]) 1897-1901, 1899-07-28

New York, July 26.-Another day of dull
ness in the stock market has closed The
tone Of the market during most of the
session was without pronounced charac-
ter. Speculative sentiment displayed no
tendency to change either way. London
bought about 10000 to 1900 shares. con-
sisting chiefly of Louisville and Nash
willie and Northern Pacific common. Lon
don discount rates were firmer today, but
easier funds are expected there on the
completion of settlement Paris and Ber-
lin exchange on London was higher, and
here the market for foreign exchange was
a shade firmer. The weekly statement OF
the Bank of England shows the proportion
Of reserve to liability TO be 4i.29 per cent,
against $3.50 per cent last week, compared
with decline from 1855 per cent to 1874
per cent in the corresponding period last
year. The United States Treasury opera
tons show that the gold reserve has now
regained the $4,000 600 represented by the
Philippine payment. Gains of gold made
by the Treasury during the last two or
three months have come largely through
the New York custom house, where gold
payments have been more than co per cent
greater than in July of last year Since
last Friday the Subtreasury has gained
substantially from the banks, with the
aggregate estimated at about 81, SOC, GOO.
This will be offset by the payments for the
custom house site.
There was good demand today for time
money again in the local market, with
per cent as the minimum rate for short
loans. Bearing on this point IL may be
noted that Government interest payments
Will be heavy next week. st. Paul's net
earnings for June were made public to-
day, and they showed an increase of SI27.-
125, while the gross increase was s649, $50.
The net increase for the fiscal year to July
! was sl,S59. 69S, with the gross increase
s4.120, 69S. Other statements were favor
able.
The stock market opened quiet and with
out important changes. In the early deal
ings traders were disposed to operate on
the short side for a turn, but prices did
not yield easily. New York Central on
light realizing American Malt issues and
Consolidated Gas were about the only
stocks which responded to the efforts to
depress prices. Louisville and Nashville
was a decidedly strong feature, selling ex-
dividend and advancing on good buying
Missouri. Kansas, and Texas preferred re-
fected strength due to its statements of
earnings sugar helninS enjoyed q MOD
crate increase in activity, and a gain of one
point. The grangers were generally firm
and better crop weather in those sections
OF the West that have been complaining
was reported. Among the industrials the
steel and iron shares were dull and firm,
and an advance in Continental Tobacco is
sues was accompanied by the industrious
circulation of large earning reports. Mar
row changes only were made by the trac-
ton shares, which were neglected. Call
money was quoted at l-2d4 per cent. In
the afternoon trading the specialties were
the features with Missouri, Kansas, and
Texas. American Malt preferred, and Lake
Erie and Western, and Pan Handle tend
ing upward. The standard shares contin-
ued dull and firm. Sugar was strong, ad-
vsncing to the best prices of the day Dur
ing the last hour there was a squirt of ac-
tivity, and, led by Sugar. the Changers and
New York Central, moderate advances were
made. The advance in Lake Erie and West
ern stocks was ascribed TO rumors that the
road will be absorbed by the New York
Central. The close was dull with a strong
undertone