Birmingham state herald., 1897-06-29
InWall Street.

InWall Street, Hss -.s as.
 New York, June 28.-1'oday's market for securities was marked by the large volume of transactions and the great animation of the dealings as well as by the continued strong upward movement of prices. The marked exceptions to the greatest strength were the active stocks which have been re- cent leaders of the advance and in which there was heavy realizing today. This re- aizng was to large extent by the. pro- fesslonal element and represented simply a transfer of holdings from. stocks which have moved freely upward to others that have Jagged in the advance, their calcula-- tionsN evidently being that the advance of the laggards is merely deferred Such a transfer was made on a very large scale stock has not moved as freely as the other grangers and Burlington's relative price has come up rom below that of St. Paul to several points ahead of it. This has led professional traders to take their profits in Burlington and transfer their holdings to St. Paul. The jump in the price of St. Paul stocks by the arbitrage brokers for London account, which served as a partial restraint on it's advance. Similar manouvres to this transfer were executed at other points in the list. Considering the proportions of this liquidation the prices of the stocks af- fected were singularly firm and steady and tionary tendency was induced at one time in the market generally and the over watchful come and sold stocks at some prices reced- ing below Saturdays closing level. This was notably the case in Burlington and Northwestern. The total sales Of all stocks were nearly 435.0 900, which has not been ex- ceeded nor equalled since the three days following the election last fall. Besides the their wide distribution was notable feat ure. The dealings were disseminated all through the inactive list and even the soft coal roads, whose values are at the lowest ebb as a group of any list, came in for share of attention, Hooking Valley enjoying aggressive strength all day, but gained 3ss net. Chicago Gas was also very strong snd s hs 9e ne s ces prces declined Net ss gains wye were the rue gn fna Rapd rahsa o % n ee
 tric, Chicago and Eastern Illinois, Long Island fours Denver and Rio Grande pre- St. Paul and Rock Island and Peoria and St. Louis preferred fell 2is, East River Gas, Colorado Fuel l1s without 2 rally on account of prospective labor troubles. Bay State Gas, Norfolk and Western preferred. St. Louis and San Francisco first and second total sales of stocks today were 4a22s2 shares, including American Tobacco 129 900, Atchison 7,100, American Sugar 93. 4QQ Bur ern 16O1o, Chicago Gas, SC eo0. General cleo tric $500, Manhattan Consolidated 5, 200, Mis- souri Pacific 16,Va0 NcrthwesterR 5leO, Northern Pacific preferred 800, Omaha s. 0Jo, Reading li.0le, Rock Island 2l.S00. St. Paul 59.400, Western Union 1A.S0o, Southern Railway preterred lS bbU
 The brisk demand apparent fer railway and miscellaneous mortgages was reflected in substantially higher prices from many issued on transactions of s2,l6e, ,000,, of which about $i000,010 was dealt in.eurdng the first hour of trading. The purchases of the high grade securities were characterized by ma terial fluctuations. St. Paul gold 7's and c. c. and Indiana registering an extreme rise of per cent. each. The gains elsewhere in the market wesW Jess noteworthy. Many Of the high price loans were taken for in yestmenf and speculative account with con