The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-07-21

pathy with depression in London, and ex-
pectation that there be announcements
Of gold exports by tomorrow's steamers.
Ii was upon this stage of the speculation
that there came the sudden and unexpect-
ed news that United States Minister Con-
ger had been heard from by the state
t aepartment. me bears hastily covered
their short contracts when this became
known. But the publication of the text
Of the message which quickly followed
caused q chill to speculative sentiment,
as 1t did to warmer sentiments of hui
mainly throughout the world
The market did not relapse to tho low
level again, and was held by the notable
buoyancy in different portions OF the In
duStr1al list Sugar WAS the central fea--
ture of the market all day, the dealings
in the stock far outnumbering those in
any other in the list. The ground for the
ported in the Sugar industry. This was
supplemented. by all sorts of rumors Cir
culated by the bulls of prospective extra
dividends Their efforts were directed
against persistent and long-standing
short interest, which was forced to cover
largely at the advance. Other strong
points were the Tobacco stocks, on talk
of good forthcoming statement, the
New York public utilities, on the hope
of defeating assessments under the new
franchise tax law, the Leather Stocks the
Rubber stock and Peoples Gas.
The Steel stocks were generally strong
at advance Of from to 22s, the Argument
being that the troubles in China would
increase requirements for that product
There was late advance In Lackawanna
of 3A and in New Jersey Central Of IL.
With these exceptions, the railroad list
shows no striking net gains.
The whole market turned doWnwards In
the late dealings, when prof1t-taking be-
came evident in Sugar. That stock lost
about points and reactions in some other
stocks extended from l to 2 points. The
closing was thereby made heavy, and the
net changes were reduced to fractions,
except in a few of the specialties men
toned
The movement was almost entirely pro-
fessional throughout, and, the late decline
was wholly due to profit taking, With the
exception OF some selling by foreign ar
bitrage houses In anticipation of lower
prices in foreign markets tomorrow. The
foreign exchange market was strong and
moved up a quarter cent, but the foreign
exchange houses report that Paris is still
the point of greatest attraction for gold,
and that the next shipments will prob
ably be made there instead of to London.
AS tomorrow steamers do not touch at
a French port, no engagements for ex-
ports were made.
A favorable bank statement Is expect
ed tomorrow owing to the continued
movement of currency from the interior,
which 1t is thought has Offset the losses
to the subtreasury (Which include the
gold exports and the taking UP Of gov
eminent deposits) by more than q mill
lion dollars. The mere remote pros
poets Of the money market continue to
engage conjecture.
The bond market continued irregular
and very quiet: Total sales, par value,
$1,O50,0OO y. S. new As declined a In
the bid price
Furnished by Charles H. F. Smith &
Co, members of the New York Stock ex-
direct wires to Chicago and New York.
Closing prices are bid: