The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-07-27
STOCK MARKET DULL
THE SPECULATORs ARE CLOSELY
WATCHING DEVELOPMENTS In
THE MONEY MARKETS
PRICE FIGURES HOLD FIRM
United States steel Was the Center
of Interest, the Closing Quota
ton Being One Point High
err Than Thursdays.
PRICE FIGURES HOLD FIRM

NEW YORK, July 26.-There was no in
d:cation of any change in the specuIatiye
conditions when the stock market opened
this morning. Dizziness and shice,shness
were unrelieved. An effort was made to
inaugurate upward movement based
! on show of strength in the United
States steel stocks, which We're marked
up something over point each The de-
mand was attributed to the London ac
count and was said to be due 10 a re-
port there that the dispute underlying
the strike was in course of adiuslment
This report could not be confirmed in
New York. The upward moyemcay in
the general list, therefore proved abor-
tive and was checked before it had pro
ceeded as far as even yesterdays limited
movement. The hardening tendency of
! the Lendon money market WAS watched
with some jealousy, as the future course
of that money center has an fyanor+ant
be airing on the future of speculation here
! The continuance of deposits at the sub
! treasury for transfer to the interior
/ shows the iliusiveneSs of hopes INDUCED
by some spectators that the usual int
rior demand upon New York for cIJrren
cy to move the crops will be missing this
year. owing conformity to the short cfop
of corn and the unusually large reserves
held at this time by interior banks Much
| interest attaches to the further consid-
eratiCn whether foreign money censers
| will be able to spare gold if New York
make demands upon them when the crop
movement begins. This weeks report Of
| the great banks abroad gives promise
that they will. Yesterdays Bank Of Eng
land statement showing q percenra ge Of
reserve lifted to above 50 was slIrple-
| mented today by the Imperial BANK Cf
Germany statement, showing substan-
tial recuperation of the already strong
position of that institution The EanI of
France also holds an unDyecedans e.py
| heavy reserve of gold. But industrial
conditions In Germany and Russia ate
such as to necessitate extraordinary
strength in banking reserves 4 rise in
| the London money rate would be another
deterrent influence upon any movement OF
gold to New York II y 10 be :eme1n-
| bered that since the outbreak % the
South African war and tia cutting off of
| the gold supply from the mines the
normal autumn flow Of gold from Lon
don to New York has hrcl eat of. with
consequent stringency of money in New
York. Relief for New York from that
source this fall is therefore problemati
cal, notwithstanding the present strength
of foreign banks TOday's market was
practically stagnant for long intervals
and its only important feature was the
1rmness of the United States Steel
stocks, which was fairly well maintained
to the close, though at some recession
from the top price.
The railroad bond market was as dull
and sluggish as that of stocks Total
sales. par value. $S70cC0. United States
refunding Is and new As advanced u on
the last call.
500 49,. 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: