The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-08-01

Closing
Wed. Tues
Bar silver. New York ........ 5SA 5Sss
Cali money, New York .21a-4 2-21s
NEW YORK. July 1a.-There was no in
dication this morning of any awakening
from the lethargic state in which the
stock market has been during the whole
of this week. A spasmodic Clio was eff
feCted in the stocks OF the United States
Steel corporation at the opening on the
failure of the Amalgamated association
to agree upon terms for settling the
strike at their session yesterday The
whole market opened down in sympathy
under the attack of the professional
traders. But the subsequent action OF
the market demonstrated it's professional
character. The opening dip following
yesterdays decline represented the extent
to which small traders We're willing to
commit themselves, and they commenced
to buy to cover short contracts and take
their profits, if possible. In the absence
of amy important interest in the market
these day-to day varying fluctuations are
all that can be expected. The policy of
what are called the larger interests,
pending the development OF new factors,
including the settlement of the steel
strike, seemed to be pretty clearly de-
fined by these Indications. BY buying
stocks freely during the period of liquida-
ton they accomplished their purpose of
supporting prices. When prices advanced
they We're willing to sell out the holdings
which were taken purely for supporting
purposes, but were clearly indisposed to
attempt an extensive advance until the
situation clears itself. The market is
thus left fallow, except for the efforts OF
a small contingent of professional oper-
ators, whose attempts to move prices are
of small efficacy. They secure no fol-
lowing when they bid up prices and they
induce no important liquidation now
when they offer them down 1t is noticea-
BILE railroad authorities are rather will
ing to concede rather more damage TO
the corn crop. now that the drought is
effectually broken, than they were during
the period when the securities OF their
companies were under pressure of liqui-
dalton. With the turn of the month,
some slight repleniShulent of the money
market is looked for as the result of
dividend and interest disbursements,
which are. however, small. The most i'm
portant is the DIVIDEND of United States
Steel preferred of Hyper cert for the
quarter. This will Involve an outgo of
about 50 100000 for the $506, 473. 400 of the
preferred stock outstanding Preparation
for the dividend which is payable on Aug
7. was reflected in the large operations
of one of the clearing house banks today.
This doubtless had mich to do with the
small furry in the call Joan market late
the traders 10 put down prices to about
the lowest of the day. antimations that
the Strike settlement negotiations were
not going smoothly helped to this end
The closing was thus made weak. United
States Steel fell an extreme "a and the
preferred 3h. The neutrality-suspicious. fea-
ture of the market next to these was
Norfolk q Western. which rose nearly 3
points on persistent demand which was
without explanation.
The railroad bonds market was in
tensely dull and irregular Total sales.
par value 100000. United States bonds
were all unchanged in the last call