The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-06-09

Call money, New York .a-....... ia 2
NEW YORK, june S-Fhe combination
bull movement in wheat and bear move
ment in stocks, which is an annual fea-
ture- at some period OF the growing crop.
made it's appearance today. The wheat
market advanced in an excited way on
an increasing volume of rumorS of dis
aster to spring wheat in the Northwest.
Wall street had similar advices and ap-
parently the conviction that serious harm
has already been done to the spring
wheat gained force steadily during the
day. There Is growing uneaStneSS as
well, over the rate situation among rail-
roads West of Chicago. The fact that
the late break in the prices of Western
railroad shares was coinctdent with the
deliberations of the committee appointed
by the presidents of Western railroads
to concert a plan for division of traffic
gave force to the suDposition that the
prospect for a satisfactory settlement is
not very good Failing such a settlement,
there is said to be q likelihood of a wide
spread and costly rate war. Coming in
combination with. the bad reports from
the wheat country, this served to effect
ually break the market: and prices went
to prices In the last half hour of the trad
ing, the weakness spreading from the
grangers, Pacifics and Southwesterns
into the trunk lines aud spectalties and
embracing the whole list.
This break came after day of persis-
tent dullness and irregular fluctuations in
prices The incident Immediately pre-
ceding the break was an advance of over
a point in Reading first preferred, with
confident absorption of very large offer
ings. The second preferred rose per
cent IN sympathy. The gain in the first
preferred was all wiped out in the final
break.
A gain In the earnings of the Northern
Pacific Of % per cent for the fourth week
in May did not avail to save that stock
from the, prevailing weakness on the ia
vorable crop prospects, and 1t fell 2
points Missouri Pacific and Baltimore e.
Ohio showed weakness before the general
break on fears of disappointment regard
# There W was si a relaxation of the pressure
on foreign markets,-due- to apprehension
over the trouble Inv China, and London
bought stocks here TO a moderate extent,
causing some slight gains early in the
day. The preliminary estimates Of the
bank statement figure out a small loss in
cash owing to the weeks heavy absorb
ton by the subtreaSury, (which amounted
to So, .000, all on account OF the call by
the treasury of gOWernment- deposits in
the banks. The estimates of receipts
from the interior are slightly in excess of
those made last Friday, but it will be re-
membered that last Friday estimates
fell short by $1,000. go of the actual re-
ceipts, so that gafnoin cash sin to-
morrow's statement would not be sur
prising. The market CLOSED active and
weak at about the lowest.
The bond market was very dull and
price changes were remarkably small
Total sales. par value, 81, ls9. OVO. United
States bonds were unchanged in bid quo
tations.
~ STOCK QUOTATIONS. =
Furnished by Charles H. F. Smith &
Co, members Of the New York Stock ex-
chnnge Pioneer Press building, who have
direct wires to Chicago and New York
Closing prices are htd:f