The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-07-26
STOCKS MARKED up
ADVANCES IN THE OPENING TRAD
ING WE'RE WE'LL MAINTAINED
UP TO THE CLOSE
MARKET WAS FAIRLY ACTIVE
Undertone of Strength Prevailed ON
Relief That Effects of Drought
West and Steel Strike Have
Been OyerdiscOunted.
Closing.

Closing
Thurs. Wed.
Call money, New York.........2-213 2-3
NEW YORK, July 25-The upward re-
action in stocks this e morning marked
another phase in the speculation. Such
intermittent movements from day to day
are familiar incident of periods when
speculative factors have largely spent
their force and no new ones of import
ance are in sight to take their place 1t
does not necessarily follow that there
are not large speculative commitments
still existing in the market. Some fur
Their light is evidently awaited on the
actual results to the crops of the period
or drought in the West, which has form
ed, together with the steel strike. the
basis OF the recent speculation for the
tall 1t Is to be assumed that a short
interest exists in the market as a conse-
quence of the recent downward course of
prices, and consequently the absence of
any new unfavorable Developments by
begetting an easy frame of mind in
shorts, keeps the undertone of the mar
ket firm. There is the additional con-
sideration that stocks in the general list.
which are not directly concerned at ali
IN the Yicissitudes of the crops, have
suffered from depression in sympathy
with those that are. There were evi,
denceS today that some of these .proyed
attractive at the low level The profess
slonal traders, anxious to develop a new
speculative movement, joined in the buy
ing, and helped to advance prices The
bituminous coal carriers, the anthracfte
group, and some Of the roads in the
southern region, were prominent in the
leadership of this movement, and helped
to hold dull market firm through the
middle portion of the session. The an
nouncement of the engagement at the
assay office of $500, 600 in gold sent prices
downwards again, but not to the lowest
The gold is supposedly for export al
though the destination is not announced.
The fact that gold should go out with
the exchange market yielding to the sup
ply created by large foreign buying of
gram today aroused renewed attention
to the fact, that some special demand
for gold exists abroad. which can draw
it from New York with exchange below
the normal gold export point The
market became so nearly Est agnant at the
decline that the courage of the bulls was
again. The sudden advance of about
two points each in United States Steel
stocks and an cartier advance of as
much in Amalgamated. Copper held to
active, with many STOCKS back at the top
level of the day. There was considera-
BILE manipulation evident on the advance,
the principal part of which was restrict
ed to a small circle
Railroad bonds wereNmQre active than
yesterday, and there was very large
demand for the bonds exchangeabIe for
Burlington stock andAisofne buying also
of Baltimore & Ohio convertible bonds
The market generally was somewhat ir-
United States bonds were all UNCHANGED
on the last call.
STOCKS.
Furnished by Charles H. F. Smith &
Co., members of the New York Stock
Exchange Pioneer Press building, who
have direct wires to Chicago and New
YORK. Closing prices are bid: