The age-herald., 1901-06-30
CONFIDENCE FELT
 IN STOCK MARKET Accumulated Funds to Meet Semi-Annlal Disbursements CAUSES AN EASIER FEELING Large Financial interests Loaned Big Sums to Check Demoralization
 Expected to Follow Bank and
 Stock Failures.

New York, June 29.-Professional opera lions played a large part in todays stock market but the professional operators bought stocks quite freely and bid up prices with confidence. The conviction that the money market will show prog ress towards greater ease next week with the disbursement of funds accumulated for the purpose of paying half-yearly dividends and interests, was the mein- spring of this confidence. There was re- lief also over the settling up of the af- fairs of the Stock Exchange house which closed it's doors yesterday. Although the embarrassment of this house came as a surprise to the general market, its strug- gle to secure means to continue has been known to the business connections for some time and has created dread of the effect Of the failure. It is believed the greater parts of it's credits have been &C., cumulated with the bank whose suspen- sion was caused thereby. With the news of the announcement passed and affairs in course of settlement the atmosphere is felt to be clearer The eorn-carrying grangers were in conspicuous demand to- day on account of favorable reports re-
  rose Sls St, Paul SIS and Rock Island 2b. There was fair sprinkling of gains reaching a point or more among the im- portant standard stocks. The loss of cash shown by the bank statement was less than the known movements of money had indicated The large decrease in loans was attributed to Stock Exchange liquidation and was to the benefit of the surplus, but 1t is probable that the large repayments k.R Gotfa- item. While the money disturbance of the week precipitated some liquidation, there were also large sums loaned on the ex- change by large financial interests with the purpose of checking demoralization. The market closed quiet and steady at about the top level.
 The influences which are usually looked to repress If not depress speculation in stocks during the last week in June, have been emphasized this week by the dis turbance of credit caused by the failure of tho Seventh National Bank and the the stock exchange house whose opera tons had involved the bank in it's diffi- culties. The financial disturbance in Ger many growing out of the failure of the Leipsib bank has been a minor influence in the same direction. The result has been some forced liquidation by weak specula- tive holders which cut into prices throughout the list. The liquidation was not remarkably heavy and prices came back rather easily in the intervals of the selling pressure. This was partly due to the fact that the house Involved was on Ele short side of the market, and the clos ing out of it's accounts involved the buy ing in of stocks. But the usual conse- quences of a downfall of banking credit, however much the causes were seen to be localized and due to irregular methods, were not to be escaped
 The recovery of prices in the stand se- curities since the May overturn has re- newed confidence in the intrinsic value of aaouritice. Such. developments as those of this week. however, incite to some con stemplative reasoning as to the after ef- fects likely to follow from a great specu- Iative boom like that of this year in it's residue of securities in which capital was confidently invested during the boom period with the we'll warranted prospect of steady sale at any time.
 The large production of gold in the Unit ed States has made the world dependent upon us for its supply.
 The railroad bond market has been much less affected by liquidation than have stocks during the week and the price movement was irregular. United States refundng 2's coupon advanced q point; do registered l2 and the As A above the clos ing call of last week. The 3s coupon ruled Is lower
 New York Stock Market.
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