The times. [volume] (Richmond, Va.) 1890-1903, 1900-07-15
STOCK MARKET
WAS VERY Dull
Prices on the Whole Were Lower
Than on Previous Dav,
VOLUME OF BUSINESS SMALL.
There Was No Bnyin. Demand, and
ANY Offering OF stocks Made Deep
inroads on the Professionals
Also Were Iisticss

NEW YORK. July 1.-THE sole inter-
est attaching 10 to-day's stock market
was as an example of Cuilness IN that
respect 1T was true index OF the specu-
IaiEe condition. which IS one OF eAtie
uRCe! 4diity and lack OF CONVICTION fINtil
me professional traders, who have con-
Satuted themselves the champions OF ccl-
tam stocks during the week, were no.
III evidence, and only small traces pe-
tween the regular 1requenteTs OF the moor
were made III any time.
Offerings to sell mace unduly large IN,
roads on prices, because. no one 5000 goo
ready TO buy, and any demand 10 guy
caused 4 rapid advance, because no one
vas ready TO sell. Some OF the !eadlliS
bears were out ot town on n loi!Ga%' con
7,aisnt that nothing could induce any SUI
den activity.
I.nuris "ere made to advance Union
Pacific, but these efforts secured niue
>siltention- The whole was, as a Wholeg.
lower than last night when the htlh
statement appeared There was some
Light buying 10 cover shorts. but the large
increase in reserves and in the surplus
attracted even less attention than did
last weeks unexpected decrease.
There was no explanation for the large
gain in cash, and it was generally ac-
CepteQ as he working of the average SyS-
TEN in the rectilication of last weeks
unWarrantcd show of q loss. The sterl-
ing exchange market was nominal, as
usual on a Saturday. but the posted rates
Tor demand sterling was advanced &c III
response To u rise in London discounts.
IT is pretty certain that these develop
IncHtS IOTeShad0w an advance in the Bank
OF England minimum discount rate and
export OF gold from New York next week.
New York money lenders are anxious
10 place call loans on easy terms. but
the sitter rates demanded Tor longer pc
riods reflects a feeling of uncertainty over
the future, which is doubtless due to the
,xtraordinary conditions of the internal
Iional exchanges. II is evident that un-
certainty in the sock Elarke is almost as
great and outside ne professional opera
lions referred TO there is little interest
IN he market.
and the taking OF profits the market has
been reactionary during the latter part OF
Ine week
Bonds nave been very little traded in,
In spite Of the ease of money, and prices
have changed but little in either direction.
United states refunding IS, when issued,
advanced 4 and old IS Is in The bio price.
Total sales OF stocks, 9V,oOV.
MONEY AND NEUTRALITY-SUSPICIOUS. on
cali nominal; prime mercantile paper
go 64l2 per cent. Sterling exchange hff1l,
with actual business in bankers bllls al
81 $685. al. SUjs for demand and S4-S4te Tor
sixty days: posted rates, 4.S5 and Ss.s 12
ol4.Ss: commercial bills, Si.S3l44i .Sal2.
Silver certificates, Gl@s962$4; par silVer,
Gf3s. Mexican dollars, 4ot4- state bonds
inactive; railroad bonds quiet; Govern
meut bonds steady
WEEKLY BANK STATEMENT.-The
Ftatefnent OF the Associated Banks for
the week ending to-day shows the follow
fng changes:
Surplus reserve, increase ....... $i,3Io32o
Specie. increase ---.---.......,. 3'.,o" .v0
Legal tenders increase .-..--.-- 53i 900
deposits, increase .-..--..-.-.-. 1,Gio,3Vo
Circulation, increase zSoooo
The banks now hold 1850, p in excess
Sf the - per cent. legal requirements.