The Savannah morning news., 1901-07-03
STOCKS AND BONDS.
The weather Plays a Prominent
Part In the Market.

The weather Plays a Prominent
Part I'm the Market.
New York, July 2--Probably the all
embracing topic of the weather is the
sufficient explanation of ell that called
for notice in to-days stock market. The
attendance at the board fell to the small
est of the summer, and the business fell
to insignificant proportions. The record
ing of transactions of odd lots" or of lots
less than 100 shares was resumed for the
first time since business on the exchange
reached abnormal proportions after the
election last fall. Quotations were made
of bid and asked prices where no trans
action could be effected.
The movement OF prices in the few ac-
tive stocks was also barren of signif-
canoe. London was inclined to take a
pessimistic view of American affairs, es-
pecially of the steel strike, and caused
some sympathetic effect at the opening
here. But prices did not fall as far as
the London parity, and there were dull
rallies after the opening. There is not
entire freedom from apprehension over
the labor outlook in the steel trade but
Wall street has arrived at a conviction
that in its present phase the desire for
a vacation from arduous work plays a
large part In the action of the men and
that the cruical stage in the controversy
will not be definitely developed until later
In the year. The street had no light on
the probable action of the United States
steel directors as their meeting was call
ed for the hour OF the closing of the ex-
change.
The isolation at sea of j. P. Morgan
caused belief that action in the many
important projects in which he is a force,
would await his presence and advice and
emphasized the waiting disposition of the
market. Yesterdays crop scare rumors
were partly offset by reports this morn
ing of rains in the corn belt, but the con-
tinued hot wave and the government
weekly report on cotton were rather de-
pressing factors in the market. The fail
ure of another small bank in Buffalo Ore
ated an unfavorable impression, and was
the occasion of conjecture regarding che
nature of the securities held for colat-
eral by banks in general.
The call money market was distinctly
easier than yesterday and the sub-treas-
ury's debit of over million at the clear
ing house was the result of the presen-
tation OF the treasury's checks for pay
ment of July government interest The
sharp fall in sterling exchange at Paris
and at Berlin was the principal fact of
interest abroad on account of the ques-
ton thus raised whether the decline in
London interest rates from government
disbursements is not likely to lead to the
withdrawal of French capital, through
dissatisfaction with the interest return
afforded in London. With the days busi-
ness below 100000 shares and the prospect
OF continued hot weather unanimous APP
prevail was given to a movement 40 re-
quest the governors to reconsider their
REFUSAL to adjourn the exchange over from
wednesday, July 8, at 3 p M, to Monday.
July 8, at 10 a. m. The individual move
ments of prices during the day does not
call for special comment
The bond market shared in the dullness
and heaviness of the stock market. Total
sales, par value, 81 ,565,0Oo United States
bonds were all unchanged on the call.
The total sales of stocks today were
ls7, shares, including Atchison, II 200;
Pennsylvania, $500; st. Paul. 1850; South
ern Pacific, 11,2O0; Union Pacific, IS. 300;
United States Steel. 1885; United States
Steel preferred, 9245.
New York stock and Bond List.