The Saint Paul globe., 1901-07-31


Far silver, New York, ........ 5S3s 57s6
Call money, New York; 49,. .2-2ilS 2-21S
NEW YORK. July S0.-The stock max
ket this morning confirmed the impress
sion created by yesteFday's market when
the accumulation of favorable factors
over the Sunday Signally failed to awal-
en any active interest In the specula-
ton. Mindful of yesterdays experience
the traders were even more diSinclined
TO attempt a movement of prices today
'Fhe dullness and sluggishness exceeded
anything that has been seen since last
summer. The extreme fluctuations reach
ed as high point in only limited
number of stocks, and in them, as In the
general market the movement was wa
Vering and uncertain. The largest part
Of the dealings was in the United States
steel stocks. But the reports in morning
newspapers of the good prospects of a
settlement were Intellectual to cause any
strength in the stocks. Apparently spec
ulatorS We're dissatisfied with prospects
however favorable, of a settlement AMI
were waiting for facts and signed papers
rs basis for determination of the pres
ent value and future prospects of these
securities. There was a feeling of un-
certainty, also, as to now far the stock
settlement had already been discounted
in the recent advance in the stocks The
few desultory advances in individual
stocks, some of them in obscure indus
trials were indifferently held. The whole
market sunk more and more into a wait
ing attitude. The present ease of money
takes that factor out o. immediate condi-
ton. But the future of the money mar
ket and the cautiousness of bankers in
locking Up cash in longtime loans serves
as Il warning of possible future contin-
gencies. The course of government rev.
enues is a disappointment to those who
hoped for relaxation Of demands on the
market from that source. In spite OF
the operation of the amended revenue
law, the governments receipts continue
to run we'll over those or last year, while
the exports thus far this month have
fallen below those of July last wear AS
a consequence, the government deficit
for this month is only a little over 81, ,OO0-
0tO whereas it had amounted to 81, ,665 635
by this time in July of ulast year. Tha
suE-treasury at New YORK has taken
over $l,0O0,0O0 from tho market since Fri
Gay last. For the last week in July last
year, preceding the government interest
disbursements in August, the Sub-treaS-
ury yielded q small sum to the New
York money market The continuance
OF these unlocked for conditions of the
government revenues viii materially af-
tecu the money market conditions during
the period of the year crop demands on
New York. These doubtful factors in the
outlook discouraged any buying demand
ano made the market soft and yielding,
even to the slight selling pressure that
was brought to bear upon it. The reac-
tionary tendency gained force and the
closing was dull and1 weak, at about
the lowest, many important railroad
stocks showing net losses Of a point or
more.
There was some early show of strength
III the railroad bond market, on a well
diversified demand, but best prices there
were yielded in the late dealings Total
sales. par value. S1,125,G0O
United States bonds were unchanged in
quotation on the last call.
STOCKS.
Furnished by Charles II. r. Smith &
Co., members of the New York Stock
Exchange, Pioneer Press building who
nave direct wires TO Chicago ana New
York. Closing prices are bid: