The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-08-08
STOCKS WERE kEAvY'
EXTREME WARM WEATHER HELP
ED DISPOSITION TO REFRAIN
FROM OPERATING
LARGE N. p. 4 EARNINGS
Gold Exports Only About Half the
Amount Estimated American
Subscription to New Bond
Issue $5O,OO0,ooO.
Bar silver, New York. .SiI soyi
Call money, New York. IL 1GSiH

Bar silver, New York. ... ST D az
C''il money!, New York YORK yf..-.. IA a1@11z
NEW YORK, Aug. 1.-THE recent dis
position to refrain from Operating in
stocks, and to await a clearer develop
ment OF the prospect, was reinforced To-
day by the extreme heat, which reach
ed level inducing prostrations on the
moor OF the exchange. With the excep-
few stocks, where special causes We're
lected. Hos
During the early part of the day some
considerable declines were established
out when the room traders came to close
up their contracts the losses We're in
a large part wiped out. The most con-
SplcuouS individual movement was in
united States Rubber which iumned 49,
from the early low point not long before
the close. Punishment was visited as a
toie on the snort interest which rushed
10 cover, making some show of animation
IN STOCKS Northern Pacihcs large in
crease IN earnings for the fourth week
IN July brought realizing, and the
Changers were heavy on the weather
bureauS weekly crop report showing
need OF rain in the corn belt The steel
STOCKS sagSed on the further reduction
IN the price of iron warrants. Some of
the recently inactive stocks showed wide
declines, including Chicago Great West
ern, Lake Iurie & Western, Iowa Central
and local traction stocks.
the beginning of the gold export move
ments. Engagements amounted to only
-about $780, 900, whereas the estimates
yesterday pointed to $4,000. 900 or upwards.
reports from London were that the
BANK OF England was now giving special
FACULTIES to attract gold from New York.
otherwise 1t is not probable that gold
would nave gone out. at today's figure
Tor sterling. The rate for demand sterling
fell back fractions as a result of sale
of bills against gold exports 1t is an
nounced, however, that more gold will
go out Thursday. Today's shipments
are supposed to have been to cover the
requirements for deposit of per cent
accompanying applications for war
loans. ts
American subscriptions are credibly re-
ported to have exceeded $50 00O, 900, or the
entire amount of the bonds offered. The
allotment to America of. Sc, O000 600 of the
$40 100000 issued, would therefore assure
American bidders about, so per cent of
their applications. Gold continues to
accumulate in NeV York on payments by
the subtreasury to the banks of drafts on
account of gold deposited at Pacific
points. The banks have gained from the
subtreasury since Friday, 50, 6S2, 900 on this
account. The money market is therefore
little affected by the gold exports
The London money market must make
provision this week mot only for 32, $780,
600 for the deposit with subscriptions to
the new war loan, but must provide also
a e2,5OO, 600 installment on the former or
Khaki loan. Whether the Bank Of
England can avoid an increase in its
discount rate this week is a matter of
interested conjecture in It's influence on
the future gold movement.
STOCK QUOTATIONS.
FURNISHED by Charles H F.. Smith &
Co, members of the New York Stock ex-
change, Pioneer Press building, who have
direct wires to Chicago and New York.
Closing prices are bid: