The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-08-13
NEGATIVE. STOCK MARKET.
Waiting for a Solution to the I'm
certainty of the Situation.

u,,,. Close. Day
CaA money, New York.........1-14 III
NEW YORK. Aug. n-There was a
rise today in the price of St. Paul e.
omaha aingio Of f 81 over that Of yesterday. on
gained IL, Republic Steel preferred as
much, and Pullman TX. Lead preferred
lost IL, in addition to. yesterdays Az
decline, without any news to explain the
mess. The common stock fell la to the
lowest price on record. Sugar advanced
a point In the morning on buying, at
uipu1ed to covering of an important
cover by the operation of bulb pool in
the stock. Most of the gain was lost in
the late dealings.
These comprise the only movements
worth individual mention on the days
stock market. The significance of the
market continues purely negative, the
determined, restraint Of the speculation
marking the waiting for a solution of
the points of uncertainty in the situa-
ton. The bank statement conformed
pretty closely to expectations, the exports
evidently not figuring in the statement.
The earlier reports were Offset by the
Eeceipts of gold from the Pacific coast
and the currency from the interior so far
as to bring the decline In cash resources
down to less than 5000, 900. It Is of spe-
cial interest to observe that while the
week fixture of American capital In for
eign investment has been carrying out
gold in payment, foreign money markets
are still adding to the sum of their
hoating Indebtedness to the New York
market. as reflected in the loan expan-
sion, which Is made on sterling ex-
change collateral
Further receipts Of gold are expected
In New York next week, on account both
San Francisco, but a heavy additional
outgo to London Is considered well as
sured. No authorized announcement can
be had of shippers plans, but 1t Is cred
IDLY reported that tentative arrangements
have already been made for shipping at
least $5000,000. and competent estimates
are made that the total will reach So
600, 600. This leaves any Paris demand
out of consideration, the rise in the Bank
of England's bid for gold leaving doubt
whether any inducement remains to ship
to France.
The interior movement of currency still
continues In favor of New York, but
already the first telegraphic transfer has
been made to New Orleans, which fore
shadows the interior demand for funds
to move the cotton and grain crops.
The banks are receiving notes for which
applica ton was made some time ago,
and the delivery Of which has been de-
craving and printing the notes. But
whether the domestic demands may be
upon the New York money market 1t Is
evident that the pressure for credits upon
foreign money markets for war loans
and the resulting stringency will keep the
prices Of foreign securities depressed to
a level likely TO prove attractive to the
large American capital now seeking In
vestment The prospective stringency
meanwhile paralyzes speculation.
The bond market has shown sympa-
thetic apathy with stocks all week
United States old 4s declined y, the new
IS V, the So 6, the 5s Is, and refunding
%, w. l., Il in the bid price.
STOCK QUOTATIONS.
Furnished by Charles H F. Smith g.
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: