The Saint Paul globe., 1903-06-26

NEW YORK. June 25.-Even the pro-
fessional room traders practically aban-
doned efforts to move prices in today's
stock market. The drift on the average
was within range of less than full
point and was uncertain and irregular all
ddy. Ihe total dealings fell below the
quarter million share mark marking the
low level for the year. If the dealings
IN PENNSYLVANIA, ST. Paul, Colorado Fuel
ana Wabash preferred were subtracted
ket.
The business congested in these stocks
ana the continued large selling of United
States Steel second 5s made up the mar
Ket or the day. The selling of the steel
ponds down to new low level at 81% ,
is commonly attributed to the LIQUIDATION
OF a large individual account in connection
with which developments are expected.
But the iron and steel stocks as a whole
were somewhat depressed today by the
tone OF the Iron Ages review of the
to the stability of prices for steel prod
uctS Tor 1904 owing to the fact that 'the
outside mills are acting freely inde-
pendent Of the leading product and on
talks or 1904 requirements
Weakness in Colorado Fuel.
The special weakness in Colorado Fuel,
which fell an extreme 3% seemed due to
realizing on the official announcement of
the assumption of control by the Gould
Rockefeller interests This announce
Silght upward movement in some of the
Gould stocks early in the day, Denver &
Rlo Grande and Wabash preferred rising
point or over. There was an air of eX-
pectat1on among professional opera tors in
STOCKS OF some development affecting Sc
cqfltles as a result of the return of j. P.
the expectation.
Wheat and corn continued to advance
ana the days weather map was consider
ed unfavorable. The weather in the crop
regions is studied critically from day to
day as the progress and final outcome oE
the crop Is believed to affect vitally the
lnanclaI future. The money market is very
cam, Notwithstanding the near approach
OF the requirements for the new fiscal year
ana the important operations in connec-
tlon with the Pennsylvania stock sub
ScrlptlOnS But apprehension of a money
squeeze for the month-end had it's part
IN repressing speculation to the low level.
which was reached during the day.
Sterling Rate Is Weakened.
The Pennsylvania stock operation was
an lnfuence alse- in the foreign exchange
holders for the new stock serving to
weaken the sterling rate to a marked de-
gree: STERLING also advanced at Paris and
Berlin, but over 81, 600 900 was withdra wn
from the Bank of England for German ae-
count. In the lfcal market not only did
caI loans fail to stiffen, but there has
oeen relaxation in the rate for time loans
WITHIN the last two days, the causes OF
which are somewhat puzzIing The new
tease or life for the labor dispute in the
local building trades was a disquieting fac
TOR and had it's influence in weakening
5ne IRON and steel stocks. Reports of a
0ISturpance Of passenger rates in the
west was minor influence The market
| closed easy, but at very small net
- Aside from the very large selling OF
United States Steel second 5s. the bond
market was dull and irregular. Total sales
par value, $2,535, 000 United States bonds
were all unchanged on the last call.
CFOSIn0 I CT