The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1902-07-02
STOCKS QUITE FIRM
Firm ITndertone Character
lied Movements on Yes
terday's Markets
BOND MARKET QUIETER
United States Three Per Cents Declined
a Quarter and the Old Fours an
Eighth Up at the Close
Sugar Goes Up.

NEW YORK, July There was not
much increase of interest in todays stock
market, but the firm undertone was
maintained and number of important
stocks were advanced. The opening
prices We're generally lower owing to
the alarmiSt reports of the damage done
to the grain crop by yesterdays storm.
Todays weather map and the somewhat
sensational advances in wheat gave col
or to the fears for the wheat crop. The
strength of corn in the market was taken
less account of as it was attributed in
part to sympathy with wheat and in large
part to the heavy speculative commit
ments which are supposed to threaten
corner in corn. The damage wrought by
wet weather to wheat is supposed to be
balanced by the advantage of cotton and
mere We're signs of , strength among the
Pacific Also There were fears this morn
ing that yesterdays money furry would
X be repeated today and the decline in the
call loan rate after opening at per
r cent helped the recovery in stocks. The
action of the Rock Island directors in
giving their stockholders the right to
subscribe at par for new stock to the
amount of 12h per cent Of their holdings
caused squirt in that stock and helped
the grangers generally, ST. Paul recov-
er1ng its l point loss and Chicago &
North Western rallying from a point loss
to point gain. Chicago & Eastern ILL
nois rose 6as points to POI without
solution of the mystery of the ultimate
disposition of the road.
sugar 0OCS Up
The New ~ ork public utilities were adj
vanced during the day and Sugar had
another upward movement. The coal car
riers weer neglected or easy, especially
the soft COAX roads. The strike of the
Union Pacific machiniStS and the threat
of the Chicago freight handlers to go on
strike had depressing effect during
the morning. The taking effect of the
repeal OF the war taxes is a favorable
feature in Wall street from every point
OF view. A long list of railroad bonds
sold eX-intereSt today, but it is not prob
able that much of the large disbursement
on that account found its way directly
tant influence in the immediate ease of
todays market was the increase in cap
ital of the largest bank in the city
Which made available an increase of
loanable resources today of about $751;
900, 600.
Sterling Exchange Steady.
The turn of the half year made itself
Immediately manifest in the London mon
ey market but sterling exchange at Paris
promptly fell off liz centimes. Exchange
here was steady to firm.
In connection with New YOrkS large
Indebtedness to foreign money markets
the London Statist points out the i'm
portant fact that there is an inclination
on the part of French capitalists to en-
bark in promising American enterprises"
This Us an inclination that has been con-
SpicuOuSly lacking heretofore in spite of
the large amount of French capital placed
here in loans. The market closed dull
and steady.
The bond market was quiet and rather
Irregular. Total sales, par value, 81,
315 900.
United States So declined 4 and the old
As Is per cent on the last CALL
Stocks.