The age-herald., 1901-07-17
SHARP ADVANCE ON
 GOOD CROP REPORT Granger and Southern Lines Show Considerable Strength HIGHER RATES FOR MONEY The Banks Are Not Inclined to Foster
 Renewed Speculatlon--United
 States Steel Held It's Own
 Despite Free Offerings.
HIGHER RATES FOR MONEY

New York, July 16-There was a snow of strength early in the stock market to- day but it was mostly dissipated before the close The attention to crop news and the reports of rain was strong ln- fiuence in the advance of the corn carry ing railroads which extended from to 2S-S In the most prominent members of the group; Atchiscn leading. The sharp rally 5 in the corn market late in the day and the language of the weekly government crop , report depressed the corn roads again and just before the close St. Paul fell to a sharp fraction under last night. The gov- iernnlent cotton report was considered fav- orable and was reflected in the compara- ' tive firmness of some of the Southern lines. The United States steel stocks were apparently begged and their unyielding support discouraged raiding tactics on the part of the bears but the insiders who bought the stock had to accept a con tinued stream of liquidation all day There seemed to be influential buying also of the Pacifics, grangers and Southwest erns, but 1t consisted in the acceptance of offerings rather than of active bidding for stock and not much resistance was offered ito the late reaction. The banks show no evidence of a desire 10 foster renewed speculation and are asking rather higher rates for time money. Call loan rates receded but without resulting in any actual pressure of money to loah Sterling exchange was also easier this morning although it stiffened again be- fore the close. Favorable progress was reported in the London exchange settle ment (the stock department) the support accorded the United States steel stocks seeming to reassure sentiment there Dis count rate at Berlin was easier and the situation there was reported to be sensi- ble ameliorated New York exchange at Chicago rose again to 25c premium from cents premium yesterday. The sub treasury Is contributing 10 the money market and that institution's debit at the clearing house tooay ran up to s2,690, ,S35 que to heavy pension payments and to the payment of account for Klondike gold deposited on the Pacific coast The relax- ation thus variousy indicated of require- ments upon the New York money market was the important factor in the firmer and quieter stock market today. The head long liquidation of last week and yester- day morning was thus shown to be un- necessary There is no disposition, how. ever, to encroach upon the money marke, supplies Among usually inactive stocks wide advances worthy of notice were in Chicago, and Eastern Illinois S-4; Texas and Pacific land trust 8; general electric 6 (afterward los); Laclede Gas, 5; Des Moines and Western, 8; Consolidated, 8 1-2 -atsd North American, 8.
 - The railroad bond market was quiet and irregular within a narrow range. Total sales par value, 8, ,435, ,0O0
 United States S's, old fours and the fives advanced IA and the new As declined IA per cent on the last call.
 New York Stock Market,
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