The Saint Paul globe., 1900-05-06
SIMMER & THOMAS,
Live Stock Brokers.
Orders taken for all kinds of live stock and
lime given 10 responsible parties. Correspond-
tnce solicited.
SNC1-. 81. PAUL, SIOUX CITY
.Iinneso:l ioYl,

must be almost wholly negative, for the
market continues near the level of stagna-
ton. A slight fillup was given to the
opening by the higher level of prices in
London. But the room traders closed their
contracts before the days end and
brought the level of prices back near to
last nights close
Sugar moved quite easily at higher
range than yesterday, and exactly re-
covered yesterdays loss, as a net result
Long Island was quite active and moved
up to 49, but closed unchanged The
bonds of the company continued in ac-
tive demand at advancing prices. The
statement that the Pennsylvania has ac-
Quired Long Island found credence, but
a working agreement with the New York
Central is believed to be involved in the
deal. The story of a steamship serv-
ice to run from the Long Island coast
was revived in connection with the move
ment in the stock.
The reports of the mercantile agencies
served to confirm the impression of the
reactionary course of prices of commodi-
ties and of trade activity The current
stagnation in Wall street is the logical
outcome of these conditions. Buyers are
out of the market but holders of secure
ties are not yet sure that the current re-
action is not making for the ultimate
health of business. 1t is perceived that
the recent high level of prices was such
as not only to unduly stimulate produc-
tlon but also to decrease the conSumptiVe
demand. Securities are obviously being
firmly held until the problem of the level
OF prices and the volume of consumption
snail ADJUST itself to afford a basis for
estimating future returns. The export
demand for manufacturers continues, and
exchange bills against manufacturers are
in quite abundant supply
The loan item of the bank statement
demonstrates that these bills are not be-
ing drawn, but are being used as col
lateral for loans: which is an incident Of
the process of placing loans with foreign
borrowers. The excess over the prelim-
inarys estimate of the banks gain In
cash was due to the extra days opera
ton with the subtreasury, which yielded
to the banks over 81 800 900, or as much
as the rest of the week
The bond market has been dull and has
moved in sympathy with stocks United
states old As advanced / per cent; re-
funding Is when issued q; new As and 5s
32 and Is a in the bid price. zoe
FOREIGN F'INANCIAL-New York,
London financial cablegram says: ''The
markets here We're becalmed TODAY but
they were firm on the news of Lord Rob-
erts advance. Funds are hardening.
Americans We're quietly hard. There was
some inquiry for Baltimore & Ohio. Louis
the expectation of good bank state
ment In New York Copper shares were
firm on Paris inquiry. The bank received
20, 0G0 pounds gold from Australia and lost
10000 pounds to the Cape Call money
was easier and bills rather weaker The
and was repaid small loans due. Silver
was supported On Indian demand
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith g.
Co, members of the New York Stock ex-
change, Pioneer Press building, who have
dlrect wires to Chicago and New York
Closing prices are bid