The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-06-05

l II
NEW YORK, June 4-The stock mar
ket relapSed again today In the reaction
airy conditions showing the same apathy
and hesitation which characterized 1t for
some time previous to the slight fill up
which gave an appearance OF some anima-
ton and strength last week. There were
times today when stocks were offered
quite freely and in considera BILE variety
and the entire absence of demand made
prices vulnerable to the efforts of profess
sional bears to get them in lower
level.
The actual news of the day offered little
to account for the weakness in the mar
ket Probably the correct explanation
is the conviction now become general
In Wall street that last weeks buying
was due to the closing up OF some extern
Sive short accounts by one or two opera
tors on a large scale. While that in
Volved scanty selling of stocks, it failed
to attract any new additional demand
Commission house business continued at a
very low ebb. There was some specula-
ton in Sugar during the day. based on
the dividend prospects. 1t was expected
that the quarterly dividend would be de-
clared today but it was announced during
the trading that action would be deferred
until tomorrow. limitations were de-
the quarter, maintaining the same rate
as the last dividend. The price was up
to 11934. by this rumor, but later fell back
below Saturdays price, closing a shade
off on the day.
The Whitsuntide holidays in London
and on the continent left the market
without any index of foreign conditions.
Some sentimental depression was caused,
however, by the delay in the occupation
of Pretoria and by suggestions of money
market difficulties in Berlin. The
bears profesSed some uneaSlneSs also over
possible complications in the far East
The closing of the Illinois Steel COM
pany's mills IN Sottth Chicago made the
steel stocks especially weak early In the
q lint fhn Of fDn
steadier in the late weakness of the
market. A rise of 3 points in New Jer-
sey Central caused a Temporary hardening
Of the coalers. but it did not hold
The heavy loan expansion by the banks
disclosed by Saturdays bank statement,
bringing the loan. item to the largest
figure in the history of the clearing house,
transaction. In this connection. discus
sion was caused by the dispatch from
Berlin to the Assqeiated Press reporting
a project by German fipanciers to intro
duce the imperial 3 PERI cent bonds upon
the American market. owing to the great
States
The treasury departments estimate Of
the amount Of money in circulation on
June shows an increase for the United
States Of $14.162, 40S for the month, in
spite of the gold exports of over $40 900 coo
and the taking IN of the treasury surplus
of nearly S.. eco COG. The prospect of an
early resumption of god receipts from
the Transvaal, the expectation that ship
ments will soon be received from Cape
Nome and the Klondika and the high rate
of production reported by American mines
arouses the discussion as to the future eff
feet on prices of this large. supply Of
money metal. The small brokerage fail
ure announced during the day was with
out effect on the market
The bond market was duh and irrega-
lar. Total sales par value. 81 $50 900
United States old As, coupon declined H.
and old IS registered and 5s Is per cent
The IS advanced IS per cent.
STOCK QUOTATIONS. 81
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: