The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-07-18

NEW YORK, July 17.-The aggregate
sales Of stocks today show a further in
crease in the volume of dealings, which
fairly crossed the million share mark.
Substantial upward progress was made,
and the market was broad In the sense
that large number OF different securities
better distributed amongst the few
stocks in which the principal activity was
centered. The same preference was shown
for the low-priced stocks today with the
exception of speculative incurSion into
the trunk lines and Vanderbilts.
An attempt was made to bring the
speculation back into. the high-priced
Western railroads, but it will be observed
that the desire to take profits on the
considerable advance which those stocks
have had was still too eager to allow
States Steel stocks renewed the struggle
to advance, but again met heavy sales at
every stage.
Affected by Profit Taking. ~--er
Some of yesterdays conspicuous low
priced stocks We're acutely affected by
the Chicago & Alton stocks. The evil
dence of profit-taking in those and the
sudden relapse of over points in Col
orado Fuel after a APPOINT advance had
decidedly chilling effect and put sudden
stop to the activity OF the market leaV-
ing it at level which fairly averaged
in Colorado & Southern and Kansas City
Southern was attributed to the same
forces as was the Chicago & Alton move
ment yesterday. These movements are
supposed to SignaliZe the return of the
Western contingent from the corn mar
ket to the stock market.
The tone of doubt and hesitation shown
in the market for the July corn option at
Chicago was taken as a warning Of possi-1
bic speculative surprises. The check thSS-
brought about to the animation of the
market was changed again by The heavy
demand developed for the Reading stocks
and the coalers. This demand was I'M
doubtedly based upon the assumption
that the coal miners convention Will de-
eide against a general strike. Late in,
the day Chesapeake & Ohio renewed its
strong advance to the extent of 27s, but
at other points and making the closing
irregular. Although there was supposed
to have been an extensive speculation upon
the unknown chances Of the Analgamated
dividend, the declaration at the unchang
ed rate failed to arouse that stock from
the torpor in which it rested all day.
: Campaign for Rise.
The days activity evidently represented
the pI oSeCution of a regular campaign for
a rise which. was based today upon The,
than upon any new developments faVorlng
higher prices.
Call money rates worked easier today,
and there was a diminution of the pres
sure from the interior for currency. Ster-5
ling exchange maintained it's firm tone,
and time loan rates are strongly heldci
Inc COHtIOlIeI ) GILL IOI o-.SIdl6IlGllL, VI
the condition of national banks, as of
yesterday, marks an event for which the
recent extra demand for cash from the
interior has been in preparation. It was
subject Of remark that the required date,
of conditions was unusually near to the
date of the call, indicating a purpoSet'to
ascertain conditions as nearly as possi-
bic of even date. There was some quess.
ton whether tits new departure does not
conceal a strategem designed to increase
the trustworthiness of the showing.
dc II TT ir.O0
sales, par value, $4,031, 900. United
States refunding Is and the old As de-.
clined Is per cent on the last call.
Stocks.