The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-07-27
STOCKS STILL WAITING
MARKET WAS RELUCTANT TO FOL-
LOW LEAD OF STOCKS SHOW
ING STRENGTH
BUYERS AND SELLERS SCARCE
Withdrawal Of German Steamships
Depressing Factor in Steel Stocks
Fears of Gold Exports Pre-
vent Bull Movement.

NEW YORK. July 26.-The waiting at
titude of the stock market was empha-
sized today. Both buyers and sellers
were scarce, and the market was nearly
stagnant, as shown by the long inter
VaIs during which the ticker was mo-
tionless. The professional traders had
encouraging task in their efforts to get
sufficient variations In prices to make
their trades. The market was equally
reluctant to follow the lead of the few
STOCKS which showed any strength, or to
6 res to to the exceptional weakness in
Brooklyn Rapid Transit formed the cen
ter of the rather feeble attempt OF the
bulls TO advance prices. The latter stock
was lifted at one time over points. Re-
ports were circulated that the statement
or earnings for the fiscal year will prove
better than has been expected. But the
f1gh price was very poorly held, and,
In fact, was entirely lost, though a slight
rally saved a small net gain. Baltimore
81 Ohio was the most prominent sufferer
from selling, and was traded in 2 points
below yesterday.
Doubt was cast upon the promised diyi-
dend for the half year by current rumors.
A semi-official statement given out late
In the day, that semi-annual dividend
OF per cent would be declared in Au-
gust. caused the recovery of less than
half Of the loss. Missouri Pacific was
also notably soft, on the practical aban-
Comment of recently encouraged hopes Of
dividend. The decline in the Wabash
earnings was taken to indicate other fall
ings off. The steel stocks were quiet,
pending the conference at Chicago.
The advances in ocean freight rates,
owing to the withdrawal of various Ger
man steamships for the transport service
to China, was an unfavorabe influence,
indirectly, upon the steel group, as the
scarcity Of ocean freight room is ham
pering the export prospects In the pig II on
trade. Metropolitan Street Railway was
sharply depressed, with no explanation,
and the loss in Delaware g. Hudson was
due to labor troubles in its mines. Ster-
ling exchange advanced an additional
strong.
Exchange bankers say that the rate
has not yet advanced to a point that Of
fers a profit on exports of gold to Lon
don. But 1t is believed that the advance
Will continue until the export point Is
reached The Paris requirements of gold
from New York seem to be satisfied FOR
the time being. But sterling exchange in
Paris fell again to l centime below the
Tuesday rate, Which had discounted the
expected movement Of gold from New
York to Paris Considering the meager
recuperation In the Bank of Englands
condition, the failure of the governors
to raise the minimum rate of discount
was surprise, and the private rate Of
discount in fact rose.
The selling of high grade bonds by for
eign holders, with the Offering in this
MAI ket of foreign government and mu-
nicipal bonds, goes to explain how the
country's enormous balance on merchan-
disc account is being met. Total sales,
par value. $4,000. u. S. ref, rs. w. l.,
and IS advanced "A, and new As COUP old
As and 5s A per cent in the bid price.
= STOCK QUOTATIONS.
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: