The Birmingham age-herald., 1903-07-08
MORE INTEREST
 SHOWN IN STOCKS  Attempt to Lift Prices Out of
 the Rut BONDS WERE IRREGULAR Market Was a colorless Affair Up to the Last Hour and the Volume of Dealings showed No
 Improvement.
 

New York July 7.-There was more ap- pearance of speculative interest in to- days stock market. The resistance of the market in the face of dullness seem ed to encourage an attempt to put up prices. There was no account for the point rise in St. Paul and Missouri Pa cifc on professional operations. Despite this not very striking demonstration the market was but a colorless affair up to the last hour. and the volume of dealings showed no appreciable improvement over that of yesterday. There was some in- dication of a speculative contest in the last hour in which neither side gave signs of any great strength. The market had begun to sag off from inanimation, but had stiffened again when heavy stream of United States Steel stocks be- gan to pour upon the market. The com mon was carried point under last night the preferred 1% and the second mort gage bonds suffered to less extent. There was nothing known by the public at the time of the showing for the quar- ter as to earnings, but the assembling of the directors of the corporation to consider the report caused strong con yiction in the board room that the tape was giving an accurate forecast of it's character The fear that an unfavorable showing of earnings was forthcoming discouraged the speculative sentiment and prices gave way throughout The clos ing was in consequence dull and easy. The early frmness was due as much as anything to the fact that yesterdays
 fotf, tD hvfn a n pressure on the market. The shipment of gold from Australia for San Francisco and the beginning of the inflow of the Klondike product enumerated the ln- fiuence of the outgo to Europe.
 The export of gold, however, causes mls- givings, while the demand for money Tor immediate use is so light. It Is considered probable that any rise in the money rate would check the gold outgo, but In the present condition further shipments would not cause surprise Satisfaction Is felt in all departments of the financial world at the letting out of the imitation in the cotton market which went a step further today. But 1t is not expected that the eurtailed demand for cotton will revive In any degree until conditions in that mar ket become more placid. The weekly cot ton report was distinctly favorable and was so far a help to stocks. The news of the corn crop also was highly favor  able, but the rise in the price of corn de- tracted from its influence. The news of the wheat crop was not considered so re- assuring The monthly report of the agri- cultural department due on Friday Is awaited for clearer light on the condition of the cereal crops. A drop of 9 points in standard rope and twine 6s was due 10 fears that the interest would not be paid. This, with a break of 5A in United States cast iron and of less amounts in some minor industrials and the weakness of in- ternational mercantile marine stocks on the curb, were unsettling influences on the speculative horizon Not much attention was paid to the late rise in call loans of per cent although the outward move ment of gold and a significant drop In New York exchange at Chicago to 10c discount may indicate further demands upon New York banking reserves.
 The bond market was irregular. A feature was the sagging tendency of the high grade issues. Total sales par value, $1, ,005, 900.
 United States bonds were all unchanged on the last call