The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-07-07
NEW YORK BROKERS REMAIN
LONG ON THEIR HOLIDAY.
DULLNESS OF STOCK MARKET
CONTINUES ACUTE.
Reports of Further Gold Exports
Makes Little Disturbance in
View of Easy Money.

New York, July 6.-The explanation was
offered of the extreme dullnes5 of last Fri
days market that many members who
wanted holiday en- Friday had ignored the
session of the exchange and had gone away
on vacation trips. This explanation was
supplemented to-day by the further sug-
sestion that the members have not yet re-
turned from their vacations. There is very
little more to be said of the days market,
which showed no larger aggregate of tran
sactions than that of last Friday. The few
members present on the floor were almost
Idle. and the small trading among them
Selves was Estless and inconsequentiaL
There Was an aimless drift of prices DOWN
ward, then upward. and finally yielding.
making the closing tone easy, but the aver
age age; level was at no time far away from
last week closing. Part of the dulness
was attributable TO diversion of specula-
tive interest into the cotton market.
COTTON A RIVAL
Wall street was reported to have made
soiue important operations in that market
to-day, putting out short lines. and it was
supposed contributing to the sharp break in
that market
marked the passing of the temporary de-
mand for the July l settlement This
failed ta to stimulate any demand for funds
tor speculation IN stocks. Supplies of day
ciftculty IN securing time loans for ciiv~t
periods; but the demand for anything lccs
than tfGi SKI month loans is merely nominal.
For loans carrying over the end of the
year there is an active inquiry but lend
ers are indsposed to put out funds freely
for the longer period. In view of the pres
ent light demand for money and tks con-
tinuing reflex of funds to the market the
Jay ,l rnmors of further gold exports failed
ncuncement of 100000 engaged was not
made until after the market closed. Resides
Ine normal return of funds by dividend
go was paid out by the Subtreasry today
on tclegraphc order from San Francisco in
payment for Klondike gold. thus marking
the beginning of the inflow from that source
which will be a substantial means of re-
cuperation for the domestic money supply
from this time on.
RAILROAD FIGURES.
The weekly railroad traffic statistics which
are compiled at Chicago showed the gen.
eral merchandise movement well sustained
in spite of the falling off in tho rr.i,, move
mcnt. ~
The very heavy immigrant transportation
Is given as an important factor in the sts-
IainHa railroad abroad traffic of the West. The
made some tiattering showings. but the only
stock TO respond appreciabiy was Norfolk
a SdGr, western. That roads earnings for the
or % per cent. a number of coalers. South
westerns and Great Northern also showed
large increases in gross earnings On the
other hand. the Norfolk and Westerns re-
port or earnings for May showed a small
remainder of the increase in gross earnings
owing to the enhanced operating expense
and Denver and Rio Grande's net earnings
for the same period showed a decrease of
over q Der cent. The days weakness, in
sugar was presumably due to the unstable
market for its product Smelling was
weakened by its strike, and AmaIgamated
Copper was sold apparently On doubts over
the trade prospect. Sharp advances in Colo
rado Fuel and Tennessee Coal were unex-
planned.
The bond market was exceedingly dull and
irregular. Total sales. par value. 81 ITO 600
United states Is advanced y per cent. and
the IS ana old as !. per cent on the last call.