The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-07-04
Stocks WERE IRREGULAR
AN EFFORT TO PUSH UP PRICES AT
THE OUTSET MET WITH
FAIR SUCCESS
DULLNEss MARKED THE CLOSE
1t Was Evident Toward the End of
the Days business That the
Market Was Still in Pro-
fessiOnaI Hands.

NEW YORK, July 3.-There was an OBJ
vious effort this morning to continue the
manipulated advance in prices which was
set on foot yesterday by a clique of pro-
fessional traders. The attempt met with
considerable success for time assisted
as it was by special influences affecting
one or two individual stocks. There was
an active revival of old and neglected
rumors concerning dividend prospects Of
a number of roads which have been pur-
suing a downward course for some time
on account of the general suppositfon that
surplus railroad earnings would be con-
served for future needs, rather than dis
tributed as increased dividends In this
class was B. & o. and Missouri Pacific,
which were advanced about point or
over by active bidding up process during
the morning. There was a continuance
of the recent unexp aimed demand for the
Reading and New Jersey Central stocka
the latter rising at one time two points,
Sugar rose with an appearance Of
strength, but relapsed on realizing with
the announcement of a further rise in the
price of the product Brooklyn Transit
derived some benefit from yesterday s
verdict in the trial for conspiracy, to dis
credit the securities of the company.
The early depression from London,
where the growing seriousness of the
problem in China had its effect seemed to
be totally ignored in this market and had
no influence in checking the opening
advance. Not so with the influence of
the best market which again demons
trated its dominating power on stocks.
When prices of wheat were seen to ad-
vance, railroad stocks turned downwards
and found no effective support for the rest
Of the day.
The general level of prices fe,l below
last night in the late dealings, but there
were some stocks which retained small
net gains though much diminished from
those at the high level of prices Al
though the advance was checked the
gains which were secured in yesterday s
movement were never largely encroaehed
upon.
The market during the latter part of
the day was dull almost to the point of
stagnation, there being no disposition to
put out fresh contracts on the eve of a
holiday. Rock Island was added to the
list of railroads whose operating eX-
penses for May have more than wiped out
the increase in their gross earnings.
The money market was very dull and
not quotably changed, but the diffusion
Of interest and dividend payments has
evidently commenced The sub-treasury
has debt balance at the clearing house
today of nearly $2000,000 and the days
excess of expenditures over receipts of
public revenues at Washington amounted
to $2.373, 1S9. These figures reflect the
payment of interest on government bonds
1t was reported that the Canadian Bank
of Commerce was in receipt of O000 Of
Klondike gold. On the other hand New
York exchange at Chicago fell from zoe
premium to par and there was deposited
at the sub-treasury here $780, 600 for pay
ment at other points. The interior de-
mand for currency is thus seen to be
growing.
The bond market moved in sympat thy
with stocks advancing in the early deal
ings, but yielding somewhat with the re-
action in stocks. Total sales, par value
$4,000 U. s. old As and new As advanced
&c and the As and IS Hc on the bid price
STOCK QUOTATIONS.
Furnished by Charles H. F. Smith &
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: