The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-08-01

NEW YORK, July 31.-There was such
turmoil in the opening stock market
today as to upset the speculative senti-
ment and disappoint the hopes of a re-
of prices which had been INDUCED in as
result of yesterdays development of
fresh railroad deals. Probably the few
erfsh upward dash of st. Louis & San
Francisco, Evansville & Terre Haute, New
York Air Brake and a few other stocks
would have been sufficient in themselves
to disturb Sentiment; but when there
was added the downward plunge of over
weight points in Colorado Fuel and a
sharp decline in Peoples Gas the up
ward course of prices with which the
market opened quickly gave place to re-
aliZing.
st. Pauls opening rise of over a point
was lost within a few minutes OF trad,
ing. ST. Louis & San Francisco Sagged
back to below last night during the fore
noon. few scattered advances at diff
ferent times during the day proved fnef-
fectual to rouse the market to activity.
Chicago & Alton and Chicago Terminal
Transfer advanced in company on mys-
FERROUS hints of coming important devel-
opments. The rise in Reading seemed
to be based upon the assumption that
the rioting in the mine regions and the
calling out of the troops foreshadoWed the
orado Fuel was attributed to the fact
that the companys books close today
for the stockholders meeting, so that
new purchases would not carry voting
cline was due to the refusal of judi
cal injunction of the enforcement of rs
cent gas ordinances. The quick subsid-
ence of the excitement which broke out
in the market yesterday, which ST. Louis
& San Francisco and Chicago & Eastern
Illinois We're reported to have consol1dat-
actual fact. All persons interested were
exceedingly reticent, and doubts were
aroused as to the real conSummation of
the project.
Bound to Be Disappointed.
Furthermore, supposing the project to
ment involved. 1t is a matter of public
nOtoriety that Illinois Central has recent
ly made an offer designed to secure con-
troll of Chicago & Eastern Illinois. The
advance in st. Louis q San Francisco
for the past week has been on the as
sumption that it was 1.-The important sys-
tenn" pointed at as destined for inclusion
in the new Rock Island company. The
fact that the new Sroject points to
strengthened completion and is thus cal
culated TO arouse antagonisms makes it
similar to many of the recent financial
projects talked of, and marks their de-
parture from the much discussed COM
munity- of-interest policy, which was to
parcel out tremendously the whole rail-
road territory amongst the various fnan-
cial powers
The money market was calm today,
but sterling exchange held steady at the
level of the recent gold export. Govern
nent deficit which reached over $12, 000,
900 at one time this month, fell to below
$4,000, 900 today, and the subtreasury in
New York received a payment of over
$1,000 900 by the Central Pacific Railroad
company on account of a note due the
government. The market closed quite
active and weak, prices running off sharp
ly just at the last.
Bonds were very irregular, and inclined
to be easier this morning. The ST. Louis
Southwestern seconds were in large de-
mand. Total sales, par value s. 100, 600.
United States bonds unchanged
the last call.
Stocks.