The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1901-07-26
THE CROP CONDITIONS
And Daily Weather Map Were What
the Stock Market Was Appar-
emily Suhservient to Tuesday.

| New York, July 24.-The SUBJ
,ervience of the stock speculation to
the varying crop conditions and to
,he daily weather map was again
strikingly demonstrated Tuesday. But
I the activity OF the speculation ia
stocks was somewhat curtailed as an
1utgrowth OF the confused sentiment
sngendered in the grain market by
the conflicting price movements grow
ing out OF the technical conditions in
the grain speculation. The uneasl
ness of the short interest in stocks
was easily perceived by the force of
the opening bulge in prices. There
were indications that a tactical move
against the shorts was being made
and the London market was used be-
fore the opening here to influence
New York by much higher range
of prices there. London not only had
reports OF coplous rains in the corn
belt, but OF an imminent settlement
of the steel strike. There was a con-
sequent rush to buy ON the part Of
the shorts at the opening here. but the
nigh prices melted away within a few
minutes under the eager offerings to
realize on the part of interests re-
naming long Of the market. Appar-
entity there was much scepticism re-
garding the reports of rain, but when
the grain market opened with a drop
IN corn almost equal to Mondays
bulge. the belief in relief for the crops
was strengthened. The reassurlng
expressions by the secretary OF agri-
culture as to the present status of the
corn crop were also an influence. The
course OF affairs subsequent to the
heavy damage to last years spring
wheat crop in the northwest was
cited as precedent, which gave hope
Of maintenance of earnings by rail,
roads in the southwest The publi-
cation Of the plan for an additional
issue Of American Sugar Refining
stock lifted that specially and helped
the market. The second rise carried
some stocks higher than the opening.
But the subsequent uncertainty of the
price movement reflected the hesita-
tion of the stock traders about repeat
ing last weeks attempt to revive
bull movement. with the crop situa-
ton still factor. The market was
allowed to lie fallow during the mid
day period with the exception of
momentary upward rush in the Unit.
ed States Steel stocks OF nearly =
points each on an unconiirmed rumor
hat the strike was about to be set
tied. The late advance in prices to
the top level OF the day seemed to he
based on the general consideration
that the damage to the crops had been
discounted and important liquidation
had been effected. leaving the way
open for an advance. The character
cf some CT the buying encouraged Il
following from the professional con-
linsent. The money market was
easier in spite of gains by the sub
treasury from the market and the
growing demand from tho interior for
funds. At the best prices. which were
made in the last hour. St. Paul was
5R above Monday night; Union Pa
clic. an Atchison. 4; Southern Pa.
life and St Louis Southwestern pro
terred, 3R and Missouri Pacific. 31s.
Fhe last prices showed only fractional
Concessions and the closing was fairly
steady.
Business in railroad bonds were
fairly active and the price movement
irresular Total sales. par value.
$2,405, 900.
United States bonds were all un.
changed on the last call