Omaha daily bee., 1897-06-27
STOCKS AND DoNDs.
Heavy Gold SHIPMENTS Cause Halt IN
the LOWE Ri MnNemnnt

NEW YORK. June 2G.-Today's stock r,rl.,
showed a subsistence Of the apprehension cause,
Yesterday by the volume Of the gold shipments
for the day and the week and turned AGAIN t.,
The bull side with greater animation and con
ttence than ever. The market sold of to some
2xtent in the first hour in continuation of yes
terday's gold fears, and on reported opinions
tnat the coming week would witness the shin
mcnt OF an even larger amount Of gold. Tn
/ leorists in favor Of a necessary reaction in
the market were at work on this basis ami sgugnI
strenucusly to bring about the reaction whica
hey confidently maintain, is long overdue in
lie market and mtiit come ultimately. the 81
.'aul statement for May. showing an increase In
ross earnings OF SlOl. IL and in net earnings OF
lls'4sS, was the trst to stem the downward
curse Of prices. The low point Of tie morning
.as a slight fraction below last nights cl,ue
q many stocks. The market was characterized
ns harGs in large blocks. Burlington was the
eader OF the market in point Of activity ana
md held there until the close. Rocn Islam,
'nicl came next in point OF activity. was even
tronger and showed an advance Of 2s per cent
rom the low point on reports that the directors
we're decided on a policy Of Increasing the divi-
end rates. Northwestern, on the other hand.
lowed a notable hating in its advancing ten
c-Cy as compared wiz others Of the granger
group. 1t was at no time more than a point
DOyc last nights close and in the final
lealings reacted by rapid fails to III, only u
1or cent above yesterdays final price. ST. Paul
sained u, per cent On its statement of earnings.
nut the carly decline left its net gain only =
per cent.
Tobacco was very active and showed marked
trength. advancing 2a per cent. with a net gain
II = per cent, but whatever news there was re-
rardiEg lie value OF the stock rau,alnsI In.
r0perty OF insiders. Sugar occupied fourth place
n the list in point Of activity. bat was str0ns
.roughout, although under some apparent re-
interest Is variously attributed to a purpose to
LeeP the price down as a matter Of policy during
the tendency or the tariff bill. and a desire TO
realize through fear that the sugar scledule VIII
e altered in conference between the houses or
,uiiy recovered. Colorado Fuel r%esisteTed
l = per cent decline. Net gains In the
Sere ~ per cent, rs per cent on brooklyn
Rapid Transit. 2s per cent in New Jersey Cen
raj, ~ per cent in Burlington and / per cent
n chicago & Eastern Illinois preferred, Con-
--'iiatei Gas and Pullman.
The week has witnessed a further notable
raising OF the level OF prices. the advance be
,nG especially notable in the granger group and
not being 50 well distributed through the list
rs in some previous weeks.
The market as a whole has fairly resisted
all attempts to work a reaction, the seyerCst
strain coming on Friday. with the statement
exceeding any week since the first OF the present
movement. The present hish level OF prices Is
and Industrial improvements which are 10 ha
realized. But the waEmness with which the high
security holders that future conditions VIII i'm
prove to warrant higher prices. The advance
average price. but the whole market has not
moved uniformly. At times som one stock
marKei derree with Northwgsttrn MS w e.
on a prospect = refundiEg its bonds so as 10
btittll IN" fiGCh. sugar made q similar bound
on the agreement OF tie republicans on the
sugar schedule several weeks ago. Thee spe-
cial movements have helped to raise the level or
olHer prices lhoush in less degree. The gran
gers and Nanderhilts, ~ groups, have al odd
times assumed the leadership. Each day also
mas witnessed ITS own LTesularity, the vibration
Sometimes carrying prices generally below the
previous day with a raIiys and sometimes above
WIN a reaction. The result has been to make
the average net change small. but almost in
Esrlably On the side Of the advance, like the
tapping waves in a rising tide. Many profes-
elDIlal tIEiElbfS ere CONFIDENT that the IzNel ~
the market had advaacSi TOO far to be war
work cons family to enect a reaction b,t thsir
utmost Efforts have htus9Tto been unsuccessful
EAcept ~ a trivial degrte. ami all their oner-
IL Is customary TO Attribute the present adj
vance 70 nc impetu1 scen by the reporting
Of a working majority IN rs favor in the senate,
10 secretary Gags speech'a at Cincinnati intimat-
q carreaey refarm ana u III fhe 9 1apreae asar, Pi ia.
clsicn DENYING the right 9f the Interstate com
events coming nearly tosf her. Tx a Convenient
epoch from wiich to dafe the advance: but n
Is probable that their imuetus bears much lhe
given 10 the first brick does 10 tine wall OF IN.
isns row OF bricks which has h.en carefully ana
has been a long period % severe retrtrebulert
ana complete economy IN railroad and in every
~. lhF 81 husln''s. The movement ~ tie
surplus product, though a. unprecUdent-lly low
nTl,rs pas begun. as indicated most striklngiy
- the breaking from time 10 time Of the sarious
pools and agree ments in tire iron and ftsaI trade.
nd the resulting enormous reactions. The cur
rent Upward movement IN the price Cf st0cE3 10
realize the benefits Of its severe retrcngsm,nT
nd liquidation. is the view taken b. such traG,
ers as are going willingly with the current. Al
re time yesterday Northwestern was s per cent
above last saturdays c!1ve. but tie gain IS
~. per cent. Rock Island gains - per
cent. Omaha 4 Per cent and Burlington ana 81.
Paul 3 per cent each. Other net gains on ne
Week are; Lacknwanna and Chicago & Eastern
Illinois preferred 6 per cent; Tobacco. s per
cent. Minnesota Iron. Rio Grsnde Western pre-
ferred. Lake shore ana lee, I per cent ~ over;
NcTthv'stern preferred. New York. I~ackswanna
E Western. New Haven ana Pullman. > per cent
Cr over. and Tobacco preferred. Chicago Gas.
starch nrst preferred. Tobacco scrip. Brc0klgn
Rapid Transit and Lake Erie & Western pre-
tsTTtd' 2 per cent OF over. Losses extending