The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-07-10


Call money, New York.............1 ia
NEW YORK. July 9.-Not much i'm
preston was produced on the stock mar
ket today by events, and the profess
sonal contingent, which conducted prac-
ticaly all the transactions, fell again to
very small proportions. The larger vol
ume of dealings and the more important
operators, which characterized last
weeks market, were not in evidence. to-
day. The failure of last weeks attempt
to attract outside interests to the mar
ket by bidding up prices seems to have
been satisfactory demonstration to that
element that the period is rot favorable
for active speculation.
The undertone of the market was I'M
mistakably firm. Even the sharp break
in Brooklyn Transit, which stock led the
market in point of activity, had very
slight effect on the general list, although
yielded in sympathy with it. Brooklyn
Transit, at the low point, was 53s points
below the highest. The stock showed
very feeble resistance to the decline and
no recuperatiYe power, the bears appar-
emily turning the course Of the stock as
they pleased There was no news to ex-
plain the decline, but rumorS were prev
alent of a poor statement of earnings to
be made in the forthcoming report. The.
other fractions We're also under pressure,
Metropolitan selling at one time points
under Saturday, but rallying j. Illinois
Central rose at one time "a, and deal
ings in the stock were quite large. I'm
official reports that the stock is to go on
a 6 per cent basis were responsible for
the report.
Louisville showed good recovery on the
authorized announcement that tomor-
rows dividend is to be On a per cent
yearly basis. The grain carrying roads
were well taken all day in anticipation
Of ton10rrows monthly crop report, which
Is expected to show an improved condi-
ton from rain in the Northwest. Balt
more & Ohio was weak feature on the
score Of the insignificant increase in
gross earnings reported for June. The
steel stocks. were inclined to heaYiness,
Tennessee Coal losing points. The
movement in the group was supposed to
be connected with the attempts to reach
an agreement regarding prices.
The large decrease in reserves shown
by Saturdays bank statement remained
unexplained today, but the continued
ease Of the money market left no room
for immediate apprehension en- thar
score. 1t is the more remote periods re-
garding which doubts are felt, and lead
ers hold out for full rates for time loans,
going over for the longer periods. though
the supply Of funds for short periods IS
abundant. The doubtful factors in the
future are the ABSORB ton Of the rev.
enue surplus by the treasury, the posi-
bic foreign needs for money growing out
Of the future developments in China,
and the working out over extension OF
the credits in Germany and Russia.
The bond market today was dull and
changes were mostly small and irregu-
lar. Total sales, par value, $650,0j0
United States new As declined H. and old
As advanced Is per cent in the bid price.
STOCK QUOTATIONS.
Furnished by Charles H F. Smith s.
Co., members Of the New York Stock ex-
change, Pioneer Press building, who have
direct wires to Chicago and New York.
Closing prices ara bid: