The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-07-13

active factor in breaking prices, but the
SPECTATORS long of stocks stood passive
without any resistance in the shape of
buying to support the market. The con-
sequence was that on each successive
raid by the bears stop-loss orders were
uncovered and speculative margins wiped
out, forcing the brokers TO sell out their
customers to save losses FOR themselves
me banks continued keenly alert to the
course of prices and their continual de-
mands for additional collateral as The
Iall OF prices encroached on the margin
OF valuation, forced additional liquidation
or the exchange. There was large selling
diSo through commission houses from
al quarters by that class of holders
WhlCS is discouraged by the fact of
decline and which sells out on the pros
pect OF getting stocks back at a lower
Inquire. Re-buying by this class of hold
erS added to the demand from, shorts
and stopped the late rally. REPORTS from
the corn belt showed no improvement and
II was the opening quotations for corn
t WIlcn toppled over prices Of stocks af-
Ter some progress had been made iowa r{Is
recovery in the early dealings The terms
OF the announced settlement of tho
western freight rate disturbance We're
aLso CONSIDERED unsatisfactory, owing to
the continued detection of one of the
MINOR roads in the territory The diver
gehce or news from the conferees on the
ldpof dispute on the steel trade was the
S Slt3 OF continued apprehension. The
ittct that assurances We're given yester
Gay that an official statement nroha hin,
would be made before the end Of tbee
week OF the terms of the Northern Pa
CLiC settlement caused diSappointnoenf
over the non-appearance of such
statement today, and caused some recur-
IsAc9 OF uneaslneSS lest renewed discord
9 fbo ~ GeVelop In that quarter Under
tue nooG or selling orders thrown upon
the market by the influence of the var
19us dlSc2urag1ng factors there were de
f Gag6 9elow last nights level for Wa
,if, ~ el 1g OF points, for Union Fa-
A
81. Paul 81, Iowa Central preferred ~
G 1Soch Island and Delaware & Hudson 3
441EHicag9 ago q Z. Alton and Texas & Pacific
II VIII be seen that the corn carrvipa,
railways We're decidedly the greatest s,t i'
1erers, but that the weakness was very
general was indicated by such losses as
delaware d Hudson 5, Lackawanna AZ,
new Yo!k Central 4, Pennsylvania Chez
apeake & Ohio-312, Baltimore & Ohio 2s5
Consolidated Gas 81. General Electric IS
Dlqd aug Iel S7a' do preferred z, United
states steel 3A, and q general declina
embracing the most prominent stocks
running from / to points. The iate
ralIy which materially modified these de-
sold condition of the market The 49,
nan operated on the short side with great
polunesS throughout the week The oroSo.
PeGt OF favorable bank statement was
q factor. apparently the banks have re
eeelNed from the interior rernaIninp ove,.
SS'VVo,oVo on balance, while the oufgo "a
tiI e e5 treasury, including the gold shipments
- %, StoOVyv ana $4,000 deposited for trans
Ie lr, TO the interior, amounts to 81, $4,000
t, mere should be net gain to the banks
New York exchange AT C,bjna s.te "ee eek.
G quote at 25c premium, and the subtreas9
6 5ly qially debit balance at the clearing
; ;je IS augmenting considerably. prom
.slng some contribution to the MONEY
iubaI IKE, next week. = No doubt is feif
IlidI the very large Liquidation during ia
Week In the stock market has res1lted
,I,cir3es III the loan account and thus
The railroad bonds naaTire+ mo-. -.
n mi3+qberately active and weak in sympathy
y Mi S5n ST STOCKS The total sales par value
~ United States. new As declined 4 and
Il Inc oIo As another. The IS advanced
"A per cent on the last call. ''Neu
STOCKS.
Furnished by Charles II F Smith 2.
Co. Co., members of the New York '' 81
bh; a1a dg, Pioneer Press building, who
York Closing prices are BID: anu we"