The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-11
NEW YORK TRADING THE HEAv-
lest FOR THE YEAR THUS
FAR.
SLIGHT GAINS THE RULE
EARLY ADVANCE LARGELY WIPED
OUT BY RUSH OF REALIZING
SALES.
LIQUIDATION IN SUGAR SHARES.
1t Wus the Main Factor In Breaking
the Market I'm the Final Hour
sOf Trading.

NEW YORK, June 10.-Today showed the
largest volume of trading on the stock ex-
change for the year thus far, the total sales
Of all stocks being .000 shares The deal
ings were well distributed throughout the
list, many stocks that have lain dormant for
long time being called into activity by the
awakened demand for securities by the good
commission house buying. But there was
also quite extensive commission house selling
of stocks, pointing to the probability that the
continued steady rise in prices has invited the
marketing Of some holdings that have been
kept back for long turn in the market. The
marked strength of the market during all the
early portion of the day was accompanied by
more or less desultory selling to take profits,
but up to the final hour of the trading, all
these offerings were absorbed without any
marked effect on the market. A heavy real
iZing movement in the final hour wiped out a
large part of the earlier gain in most secur-
tiles. and all Of it in quite number.
Heavy liquidation in Sugar was the main
factor in breaking the market, the selling
being increased by some disappointment that
the sugar schedule of the tariff bill had not
passed the senate when trading closed, and
to reawaken apprehension that it might be
changed in conference between the two houses
so as to lessen the protection on refined SUI
gar. The resulting weakness of Sugar was
as effective in depressing the market in view
Of the large volume Of its sales, its ag
gressive strength in the morning had been in
sustaining it. The response of the London
market for Americans to yesterdays latest
strength also gave strong impetus to the
early advance. London was also buyer here
to moderate extent of all the special favor
ties of the market. There was some distrust
felt of this London buying by professional
traders he
short turn of the market, and is likely to
come back here for sales soon. Sugars fall
from the high point was Us, but final rally
left its net loss fractional. The coalers were
also notably active and strong. New Jersey
Central advanced 3s; Delaware &c Hudson,
~, and Lackawanna and all three Reading
panies were notably strong and reacted only
fraction Illinois Steel advancing 21a Min
n I1 Iron, 2, and Tennessee Coal & Iron.
strength Northern Pacific preferred was
very active. but moved very narrowly. Louis
vile Nashville gained II. Lead preferred
advanced, points; St. Paul & Duluth, 3
points. The new securities of the ST. Joseph
Grand Island railroad were dealt in for the
hrst tine, the first preferred ranging from
80 down to 37%. the second preferred from
" TO IL, and the first mortgage bonds from
62M to 62. Western Union continued notably
active. advancing IL, but react:ng point.
The closing was weak, but slight gains were
the rule.
shares including Tobacco 1900; Atchison
5000; Sugar, 4S,2oo Burlington. 2s.30O; Can
Delaware & Hudson, $500; General Electric
$500; L. & N, II eco; Manhattan, AGO; Ma
tional Lead. 1890; Northwest, AGO; N P.
pfd, l34c0; Pacific Mail, $500; Reading, 1900;
Rock Island. IA 500; st. Paul 20 200; Tonnes
see G.. l.. 1900; Western Union, e 100;
uthern, 3,SC0; DO pfd, 13, 400; N. j. Central
16, 700. $50
The following were the fluctuations of the
leading railway and inGus;r al shares fur
nished by c. H. F.. Smith & Co.. members
New York stock exchange and Chicago board