Show w mi TONE WAS FEVERISH AND UN EVEN caused by conflicting influences and demand from shorts to cover occasional rallies new york july 2 the load of selling winch tho stock market had to carry seemed slightly mitigated dur ing tho early trading today and tho uneasiness of the bears which wag caused by this fact mado the market feverish and uneven for a time under the conflicting influences of the skiing and tho domand for to cover later the soiling was resumed in ful force and the market closed weak tho high opening of prices was exceeded after the first break in the market and thero were occasional tallies after subsequent breaks but the fact was obvious that any show of a buying demand was taken advantage of to the full extent to continue the realizing sales late in the day free liquidation was resumed and attempts at support were practically abandoned the consequence being a violent fall in prices to the lowest on the part of the movement A flurry in the call loan market was the signal for the enhanced pressure to sell and it was inferred that there was further calling of loans and of forced closing out speculative holdings it is not usual for the new york money market to show immediate relief from the needs of a periodical settlement with the arrival of the date and the extra demand for call loans today did not occasion a great surprise it Is the longer time money outlook that Is the subject of solicitude tho effect of the preparations for paying out of july disbursements Is expected to pass as oon as these disbursements are accomplished but the tone of the time loan market continues strong with active demand and very scanty supply sentiment over the money outlook was disappointed over the fact that new york in obtaining only an insignificant portion of the largest supply of gold which arrived in london on saturday in spite of the tall in exchange to the nominal gold import point sentiment was little reassured by rumors of a large engagement of australian gold having been secured but which failed of verification the price of gold was marked up in the london market but discounts eased there the heavy and stagnant tono of foreign stock markets was unrelieved the issuance of a circular by the secretary 0 the syndicate inviting suy by july 30 to ot panama canal bonds was regarded as a complicating factor in tho glut in tho boond market reassuring reports from railroad traffic managers were calculated ta correct tho impression madio by last weeks reports of a falling oft in volume 0 merchandise transported and that development was pronounced temporary as shown by a recovery on the week just past but the effect was not perceptible on stocks and more attention waa paid to reports of cutting of grain rates to missouri river points firmness in the london copper market contributed to an early advance in the copper group 0 stocks now in corporations in june of companies ot a million capital or upward are repart Q ato be larger than for june 1905 but nearly one halt 0 the total was of mining companies and one half of the remainder in street railway and light companies this Is a significant showing ot the multifarious ways in which interest Is diverted at present from the stocks dealt in in tho stock exchange the pressure ot liquidation because of a cut in late dealings and charade rot the selling gave evidence ot distress which was relieved eved to money difficulties on the part ot some ot the speculative holders ot long stocks bonds were more active but were easy total sales par value |