The age-herald., 1901-07-24
THE WEATHER MAP ] RULED THE WORLD Confused Sentiment in Grain
 Market Had Its Effect AND CURTAILED ACTIVITY f..ere Were Indications That a Tacti- cal Move Against the Shorts
 Was Being Made, and This
 Caused Uneaslness.

New York, July 2S.-The subservience of the stock speculation to the varying crop 5 conditions and to the daily weather map was again strildngly demonstrated to- day. But the activity of speculation in stocks was somewhat curtailed as an outgrowth of the confused sentiment en- gendered in the grain market by the con- fiicting price movements growing out of the technical conditions in the grain spec ulation The uneasiness of the short in terests 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 be- ing made and the London market was used before the opening to influence New York by a much higher range of prices there. London not only bad re-. ports of copious rains in the corn belt. but of an imminent settlement of the rush to buy on the part of the shorts at the opening, but the high prices melt ed away within few minutes under the eager offering on the part of holders to profit.
 Apparently there was much skepticism regarding the reports of rain, but when the grain market opened with drop in corn almost equal to yesterdays bulge the belief in relief for the crops was strengthened. The reassuring express sions by the Secretary of Agriculture 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 railroads in the Southwest. The publication of the plan for an ad- 1itionaI issue of American Sugar Refin- ing stock lifted that speciality and helped the market he second rise carried some stocks higher than the opening. But the subseouent uncertainty of the prlce movem Isl reflected tho hesitation Of the stock traders about repeating last week attempt to revive a bull movement with the crop situation still factor.
 The market was allowed to Ee fallow during the midday period with the ex- ception of a momentary upward rush In the United States Steel stocks. or nearly 3 points each on an unconfirmed rumor that the serike was about to be settled. The late advance in prices to the top lev el of the day seemed to be based on the general condition that damage to crops had been discounted and important liqui- dation had been effected leaving the way open for an advance. The character of some of the buying encouraged follow ing from the professional contingent. |. The money market was easier in spite of gains by the. subtreasury from the market and the growing demand rom the interior for funds. At the pest prices. which were made in the last hour' St Paul was 514 above last night Un- ion Pacific AZ, Atchison 4, Southern Pa {, preferred SHR DTA ORD LOl LlDLU cific and St. Louis & Southwestern pre- ferred 313 and Missouri Pacific SIS. The last prices showed only fractional con- sessions and the closing was fairly steady.
 Business in railroad bonds was fairly active and the price movement irregular. Total sales par value $2,405,OOO. u. 5. bonds were all unchanged on the last call.
 New York Stock Market.
 D., pri,,a Ia Wire to Murphy & Go.