The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-06-08
STOCKS Do BETTER
SURPRISES DEALERS WHO LOOKED
FOR THE WORST
Improvement In Tone Is Difficult to
Trace TO Any Specific cause-Hope
Prevails That Lower Plane OF Business
and Industry Has Firm Basis

NEW YORK, June THE professional
contingent in the stock market started
today with very discouraging views of the
hopes of any activity in the market or
OF any movement of prices. The failure
OF the market to show any response to
yesterdays decided movement in Ontario
e. Western was made the basis for this
hopelessnass and the reflection of realiz-
ing sales in the early one point decline
In that stock aggravated the depressed
sentiment But the market turned out
better IN tone and in distribution of bust
ness than was the case under the slim
llating influence of yesterdays rise in
ontario 81 Western. 1t would be difficult
to fix upon a specific cause for this de-
Yelopment, as the current news seemed
TO have little influence on the market.
Inc weekly bulletin on the crops of the
weather bureau proved rather more ia
YorabIe than was expected on wheat for
both the winter and spring crops, and
the favorable progress of the cotton crop
went to accentuate the effect of the gov
eminent report of the June | condition of
that crop. The bulletin was less hopeful
as to the corn crop, but the maturity of
that crop is still so far distant as to de-
tract from the Importance attached to
It's present condition. Favorable progress
Tor the crops is better calculated than
any other development to settle the
nuctuatlng opinions over the business
prospects of the country. Hope seems to
be thus engendered that the present
lower plane of business and industry may
be nevertheless on firm basis with
reasonable assurances against a pro-
gress1ve decline to level OF prostration.
Late Recovery Beneficial
The rather constant ratio of the decline
IN railroad earnings goes to establish that
Keeling. A late recovery in Ontario &.
western today produced more effect else
where In the market than did yesterdays
more sensational advance, and the kim
dreo coalerS We're especially affected. The
market was still far from being a broad
one and was almost wholly in profess
Slonal hands so far as could be perceived
The personality Of the brokers employed
IN the late buying conveyed an impres-
sion that some of the larger interests
We're taking stocks and the sensational
erect OF the buying was thus enhanced
Inc money market was almost stag
nant and rates were inclined to -droop.
though with little money Offering at the
present unattractive rates. The advance
IN the sterling rates at Paris to Is francs
~ centlmeS was a decisive indication
that the course of capital was no longer
drawing towards that center. Incoming
gold to the London market was accord
lngly taken by the Bank of England. with
no demand fer Paris account The dis
count market was yielding both in Paris
and London. The market for sterling
mere also yielded, thus deferring, if not
aVertlng an outgo of gold to London from
mere. Prices eased off in the final deal
lngS put the closing was steady
The bond market was irregular with
Total sales, par value, 81. 754. 900. United
states bonds We're unchanged on call
Closing List