The age-herald., 1901-07-02
HIGH PRICES
 NOT REALIZED The Stock Market Keeps an Eye on July Disbursements SOME DISTURBING FAC TORS Alarmist Rumors, Circulated by Bears In Regard to Clearing House Com mittee Conference, Had Small
 kffect-Weather Too Hot.
SOME DISTURBING FAC TORS

New York. July 1-Expectations of higher prices for stocks which were aroused by the action of the market during the latter part of last week were not realized today. It is no unusual thing for the effect of July disburse- ments upon the money market to be de- layed some times for a week or two the looked for demand for reinvestment fail ing to appear, and the rate for money holding comparatively firm. These con- ditions held today, although there was some realization in the call money mar ket. There were however, a number of more or less disturbing factors which discouraged buying and when last weeks buyers attempted to take their profits they met no demand to absorb their of- ferings and prices melted away easily on a small volume of business The tone of the foreign markets was quite cheerful and the occasion of some opening ad- vances here. The passing of the semi annual settlement day at Berlin without a hitch was a great relief to all the foreign markets and heavy disburse- ments of government interests in London made money and discounts easy there. but the market here had to face the &C., tion of the Amalgamated Association of Iron and Steel Workers in inaugurating a strike in the steel trade. Officers of tho United States Steel Corporation pro- fessed to belittle the effects of the strike but it's effects were manifest upon the price of the company's stocks neverthe less. The independent steel companies were also weak. United States Steel, both common and preferred, lost 1A and Colorado Fuel and Tennessee Coal about three each. The expected dividend &C., tion on United States Steel tomorrow was also a factor in the situation, the bears striving to discredit rumors that the combination stock would be placed on a4 per cent dividend basis. Fears of damage to the corn crop from drought in Missouri, Kansas and Texas especially depressed the corn carrying grangers which were more vulnerable by reason of last weeks strength. The decline reached 3 in St. Paul, 8 in Rock Island, 21s in Illinois Central, 2A in Union Pacific and Texas and Pacific and in Atchison preferred. The hand of the bears was manifest in the circulation of some alarmist rumors early in the day to the >effect that the clearing house committee was in consultation over the affairs of some of the clearing house institutions. There was certainly no such consulta- tion and there were emphatic denials of any thought or intention or necessity of such. a consultation, but the effect pro- duced by the rumors showed that last weeks failures have left the speculative mind in an impressionable state. The fierce heat had it's effect on the trading as it had on all other ginds of human activity There was notable strength in the Iowa Central stocks and in the New York, Chicago and St. Louis stocks with gains extending to about to 6 points. Most of the active stocks were off point or more during the day and the closing was heavy and dull.
 There was little doing in railroad bonds but prices yielded in sympathy with stocks. fe
 Total sales par value $1,SO0,O 900.
 United States bonds were unchanged on the first call.
 New York Stock Market.
 TSv prfvafa Wire to Murnhv & Co