The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-06-29
THE STOCK MARKET
PROFESSIONALS PULLING SHARES
UP TO HIGH LEVEL.
Notable Instance OF Transfer From
burlington to st. Pnul-Brisk
Demand for Mortgages.

New York, June 2S.--Today'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
recent leaders of the advance, and in
which there was heavy realizing today.
This realizing was to large extent by
the professional element, and represented
simply transfer of holdings from stocks
which have moved freely upward to the
others that have Jagged in the advance.
their calculations evidently being that the
advance of the laggards is merely de-
fcrred.
Such a transfer was made on a very
large scale from Burlington to St. Paul
The htter stock has not moved as freely
lis the other grangers. and Burlingtons
relative price has come up from below that
of st. Paul to several points ahead of ii.
This fastened professional traders to take
their profits In Burlington and to transfer
their holdings to ST. Paul
The jump in the price of St Paul at the
opening invited some sales Of the stock by
the arbttrage brokers for London account.
which served as partial restraint on its
advance. Similar maneuYers to this end
were extended to other points in the list,
Considering the proportions OF this liquida-
ton, the prices of stocks affected were
singularly firm and steady, and even
strong in some cases. A Teactionnry ten
dency was induced at one time In the mar
ket generally and the ever watchful bears
again believed their opportunity had
come, and sold stocks, some prices receding
hell Sa ttr1a " eli
notably the case in Burlington and North
west. The total sales OF all stocks We're
10000 shares. which has not been en-
ceede nor equalled since the three days
following election last fall.
Besides the extraordinary volume OF
transactions, their wide distribution was
a noticeable feature. The dealings were
disseminated all through the active list
and even the local roads, whose values are
at the lowest ebb as "a group OF any on the
list, came in for a share Of attention,
Hooking Valley rising from ~ TO 33-S.
Sugar showed very aggrs ssive strength
all day, and gained 3 SIS net. Chicago Gas
was very strong, and advanced 10
The only peculiaritiet of the market
otherwise We're the stocks whose prices de-
cltned. Net gains were the rule, and ex-
tended to 23i each in Denver aud Rio
Grande preferred. Illinois Central. Oregon
Short Line St. Paul and Rock Island Con-
without rally on account OF prospective
labor troubles. St. Louis and San Fran
cisco first and second preferred are also
down fraction.
The brisk demand apparent for railway
and miscellaneous mortgages was reflected
In substantially higher prices for many
ISSUES on transactions of 81, 100, 900 The
purchases of the high grade securities
were characterized by material fuctua-
tons. St. Paul gold sevens and Cincinnati
Cleveland, Chicago and indianapolis regis
tered an extreme rise of per cent each
The gains elsewhere in the market We're
less noteworthy
Total sales of stocks 49,. 20 shares in
GLIDING; Sugar g. 100. Burlington 25 600
| Chicago Gas $500 St. Paul %, 400