The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-07-03
STOCKS HELD THEIR OWN
WITH THE EXCEPTION OF
SLIGHT DEPRESSION AT OPEN
ING MARKET WAS STRONG
PROFESSIONALS IN CONTROL
General Public Cut Little Figure In
the Business of the Day-SfeeI
Strong In the Early
Dealings.
Close.

Gail money, New YORK -412CVZ
NEW YORK, July with the excep-
ton of brief period OF depression at the
opening in sympathy with foreign quo a
tons the stock market was Consistently
strong throughout today and closed with
the gains we'll maintained in nearly all
cases. While the strength was pretty
wei difused, the grangers and Pacifics
We're the leaders of the market both in
point or activity and strength The news
OF rains both on Sunday and today in the
spring wheat region was the principal
factor in the advance as it was in the de-
cline in the wheat market
The weekly statistics of grain traffic re-
cetved from Chicago emphasized the in
nuenCe of the news of crop conditions.
The deliveries of grain at Chicago showed
still further increase over last week
total and at 1886, coo blu were the largest
for the corresponding week in over five
years with the exception Of last year,
from which the falling off was about %
per cent. The receipts at primary points
showed only a small decline from last
weeks large aggregate The Willingness
thus shown by the farmers to part with
their wheat at present prices serves some
what TO diScredit the alaTmist reports of
the prospective shortness of the wheat
crop. The shipment east of Chicago both
or flour and of grain also showed good
Increases
These considerations proved so effective
as to OFFSET the days unfaVOrable showing
Of net earnings for May. The report of
the Chicago, Burlington & Quincy, by
reason OF heavy increase charges for
operating expenses, showed the Increase
IN gross earning more than wiped out the
decreased established in the surplus after
IlAed charges were no less than 50 per
cent. The same causes were at work in
TIE case of the Louisville ,& Nashville ria
net earnings of which fell off about II
per cent from last years level Never
tneleSs these two stocks shared fully in
the days strength
The figures of the large July disburse-
ments of dividends and interest was an
other factor. These are estimated yari-
ously at $lOO,OO0,000 to $125. 900, COO It Is
pointed out furthermore that a larger
proportion than ever before of these pay
ments will remain in this country. owing
TO the large buying Of American secur-
tues from foreign holders during the past
There was no effect apparent In the
money market from these disbursement,
ana accord ng to precedent, there may L
be Tor several days But the bidding M
Oh prices today represented the effort By
PROFESSIONALS to anticipate the coming
pressure for reinVeStment In fact the
Whoie movement was largely in profess
slonal hands, the advance being accom-
pjlshed on a small volume of business
ana with the intention of improving the
feVer OF prices, rather than of securing
stocks as cheaply as possible.
Inc steel to ks we e st, ocg n the ear,y
dedlnSs, IN spite of the news of continued
decHne IN prices of product in the wide
spread closing down of mills pending the
also a reaction in the price of pig lead.
The metal stock generally did not hold
their prices. The same was true of the
cOalers.
Sugar was comparatively quiet and was
inclined to react from the high price The
foreign depression was attributed to the
serious aspect of the Chinese question,
ana IN Berlin to the effect of the dis
astrlous IRE In Hcboken on Saturday, but
the reflected influence in this market was
overcome within five minutes.
a long list of bonds sold ex-interest this
morning and many of them made good
progress towards recovering the amount
Of OF II the interest. Total sales par value,
% ,03o, wv. United States refunding coupon
rs when issued advanced " and do regis
Tered %. The new As declined 4 In the
bid price.
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith &
Co., members of the New York Stock ex-
change, Pioneer Press building, who have
oirect wires to Chicago and New York
Closing prices ara bid: