The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-06-28

Bar silver, New York .......... lLoltf 6I7t
Call money, New York ........ 11a Up
NEW YORK, June 27.-Prices failed to
hold in today's stock market, and, alter
an early period OF advance, turned gen.
orally dOWnWardS until the average level
had fallen to below that of last night.
There was some irreguiarity in the move
men, as amongst the indusLria.s and rail
roads, but the tone of the market during
the latter part or the day was undeniabiy
heavy. The irregularity consisted in the
better resistance to the depression offer
ed by some stocks. This was true Of the
steal stocks and of the cOalers, the latter
being aHecIed by good showing OF earn
ings for May by the Erie and the Read
ing companies BY announcement OF an
advancement in the price Of coal by the
Reading company, and by reports that
other companies would follow suit Some
of the soft coal roads were also strong
on the good conditions in that trade.
But the list as a whole gravitated down
ward.
The buying demand, which was in evil
dence yesterday and the day before, from
which much had been hoped in rallying
prices. showed increasing Indifference
and lassitude at the higher level attain
ed. The course of the market was a
striking one. European sCurses were
higher on reports published abroad Of
the rescue of the foreign legations by
admiral SeymOur'S forces at Pekin, and
the ODening here was strong in sympat ny.
But this and the growing need OF money
did not avail to hold prices in the face
Of the rally in the wheat market. which
accepted as plain intimatiOn that the
reaction in that market was purely tech
meal in causes, and that there was no
subsistence Of apprehension Of extensive
damage to the crop.
The May statement of net earnings Of
the St Paul company had a cumulative
effect on sentiment in connection with the
crop damage reports, and all of the grain
carrying roads Jared badly. Northern Pa
ctfiC was most affected. and showed an
extreme decline of nearly points. Great
Northern preferred lost ~ net. St Paul's
increase in operating expenses for May
Of over q per cent was a discOuragiug
evidence Of the inroads made by higher
prices of material upon the cost of Oper-
ating railroads.
The growing ease of the money market
in face of the pending July l settlements,
is an agreeable surprise to the specula-
tive world. Not only do call loans con-
tinue easy but time loan rates were quo
tablv lower today, Notwithstanding the
fact that SubtreaSury has absorbed near
ly 22,00O,000 from the market since last
Friday, and that the dividend and in
teTeSt disbursements which must be ar
ranged for at the beginning of the fiscal
year approaching, are the largest in the
history Of the country The total is esti-
mated at over 100000, 900. The course Of
the exchange market indicates the pres
ence in the market of large available sup
plies OF bills OF exchange and uneaSlneSS
over the course of foreign money mar
kets is correspondingly diminished
Business in bonds was small, but prices
We're much better held relatively than
IN stocks. Total sales par value, $685.
000 United States bonds were unchang-
ed in bid quotations.
STOCK QUOTATIONS.
Furnished by Charles II. F. Smith &
Co., members Of the New ! ork Stock ex-
change. Pioneer Press building, who have
direct wires to Chicago and New York
Closing prices are bid: