The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1902-07-04
STOCK TRADING
WAS VERY DULL
Some Degree of Activity Stirred
Up Later
TONE WAS NOTABLY FIRM
There Was Sharp Reaction In the
Final Dealings and the Market
Closed Easy-Bonds Were
Dull and Irregular.
TONE WAS NOTABLY FIRM

lew York, July 3.-The stock market
was dull during the greater part Of the
session, but was stirred into some degree
Of activity In the final hour. when the
highest prices of the day were made. The
rise was in tho nature of demonstration
against the short interest, which had
looked for a furry in the money market
before the close that would enable them
to cover at a profit. The furry failed to
materialize, and when the shorts at
tempted to cover they bid prices up on
themselves There was a sharp reaction
IN the final dealings al1 the market
closed easy. The tone during the day was
notably firm and the market much Of the
Same character as for many days past.
Clearing weather In the southwest and
clearings weather in The southwest and
the great Improvement In the crop har-
vesting condition was the basis of the
strength IN the market. and the grain
carrying oads led the advance The
Iponey tie opened at per cent. and
there ere feal that the demand Incl
don't to carrying over for three days
would stiffen the rate before the close,
but the rate on the contrary declined.
Tho hope is entertained that easier money
conditions will soon follow the compile
ton of the semi-annual settlement. The
foreign exchange rate, however, still
holds near the gold export point, and
Paris was buyer of gold in the open
market N London today Sterling ex-
change at Paris. however, advanced
sharply today, and relaxed the pressure
for gold. Another development is the
weakn sss OF New York exchange at Chi
III falI $a n n
day Chicago reports heavy demand
from northwestern points for currency.
There has seen no loss by New York
banks on interior account this week, but
there is a small falling off in the volume
of cash from the interior.
etaoin etaoinm etaoinmnmnmnm amtmt
Today's bond market was dull and ir-
regular Speculation has been listless and
almost idle during the short week In the
stock market. The large operations in
the money market in the July settlement
and some large corporate transactions re-
stricted the resources available for spec
ulative uses. But in spite of the dullness
of the market and of some developments
that gave cause for uneasiness, the under
tone of the market has been firm and
some individual stocks have enjoyed
sharp advances. In the absence of news
to account for these advances, 1t is gem
orally supposed that they have been due
to manipulation by the financial powers
seeking to support tue market by these
sympathetic influences. The light specu-
lative operations In stocks are viewed
with satisfaction for the reason that cred
its are not being incurred on that account
on an unsubstantial. basis The financial
district has been flooded with alarming
reports of crop damage from too abund-
ant rains in the grain regions, which have
not been entirely without effect on prices
of stocks.
The investment demand for bonds. fol-
lowing the July disbursement has not
yet been largely in evidence and there
have been some declines.
U It'd States old As, coupon, declined
S the IS and new as 4, and the old As,
registered, ss per cent as compared with
the closing of last week