The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-03
BY GOOD COMMISSION HOUSE
BUYING
STRONG RALLY AFTER NOON.
NET GAINS In ALL STOCKS, WITH
NOTABLE ADVANCES IN
MANY
REACTION WAS EXPECTED EARLY
Upturn Was I'm the Face of Efforts
by the Professionals to Bear
the Market.

NEW YORK June 1T looked for a time
after the opening of the stock market today
as though the anticipated reaction from the
strength of the last few days had come to
pass, and the average Of prices was about to
Vibrate downward again, within the narrow
limits which have characterized the short
turns of the market for many weeks past,
under the manipulation Of the professional
traders Prices of American securities came
lower from London this morning, rejecting
the disappointment of the British investing
pubic that Wall street had not responded
with more enthusiasm to the confidence in
Americans displayed by the London rise on
Monday. The gold shipment for tomorrow
small as it is, helped the reactionary tend
ency. The shipment, amounting to only
$3.50, 000 was sfficient to indicate that the price
Of demand sterling, $4.87 was not yet low
enough to preclude gold shipments, under the
prevailing abnormal demand for gold abroad
The consequence of these things was a re-
dictionary tendency in the market through
the morning hours But the depression in
the market was at no time marked and the
decline in prices was limited to small frac-
tons, except in one two special cases.
The buying by the commission houses for
outside account proved sufficient to hold
prices firm, even when the traders had ceased
some other leading stocks.
The Rock Island annual statement, showing
an increase in net earnings and surplus, after
the dividend, added to the strength in the
granger groups, did the further scrutiny
OF the April statement of the Burlington and
the aggregate results to that road for the
quarter. The outside buyers showed a
marked preference for the low priced shares
of some of the reorganized companies.
Class of securities that has been in greatly
improved demand for several DAYS past.
There was slight recession in the fiual
hour on proft-tak1ng but prices stiffened at
the close to the high figure attained in the
strong buying movement which set in after
noon. The notable feature of the rise was
that it was unaccompanied by London buying
in any volume, and was in face of efforts by
traders for a reaction, proft-taking being in
marked volume at times, but always well alb
sorbed. Net gains occurred in all stocks with
a few exceptions and extended to point or
over in Rock Island, Northwest preferred
Chicago Gas, Chesapeake & Ohio, c., c.. c.
q St L., Consolidated Gas, Brooklyn Union
Gas and Canadian Pacific the latter rising 2
points: Fractional declines were shown in
New Jersey Central, Omaha Reading Ameri-
can Spirits, both common and preferred, and
Standard Rope.
The bond market participated, to a moder-
ate extent in the decided strength apparent
in the stock market. The speculative issues
were the features Of the dealings and round
amounts were taken for foreign account, with
the Atchison liens especially fancied Some
marked gains were registered in some of the
middle grade issues. The aggregate sales
were 81, S29, 00O Governments were neglected
at the board, but were steady at bid prices
The total salesNof stocks today were 234 548
shares. including: Sugar. 7,4O0; Burlington,
$3.50; Chicago Gas. 81, 900; C. o. $500;
L. & N. $500; Manhattan, $500; New York,
300; n. p, 4,sc0; Omaha, s00G r. & w.
third assessment paid). z 400; Rock Island,
0,700; st. Paul. q leo; Tenn. G.. & l., 1890;
Southern preferred, $780, N. ]. c., $500.
The following were fluctuations of the
leading railway and Industrial shares fur
nished by c.. H. +. Smith & Co.. members
New York stock exchange and Chicago board
of trade: