The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-06-19
is GROWING STRON GER
Some Stocks Held a Net kdva:cs UatIl
the Close of the Market.
THE CHANGERS WERE AN EXAMPLE
Powerful Professional Traders Are
Operating on Che Conviction that
General Reaction IL Ono. or
Overdue, In the Market aud They
Are Watching to Take Profits.

New York, June 18.-There were evil
0ences to-day Of marked strength in the
market for securities and the level of
prices was, at times, materially above
yesterdays close. Some stocks held a
net advance until the close Of the mar
ket, but some prominent shares sold off
to yesterdays close or below it before
the conclusion of the days trading. The
Changers were an example. Very mark
ed strength was developed In some con-
spicuous case, due to special causes, and
this was sustaining factor in the mar
ket. But powerful professional traders
are operating on the conviction that q
general reaction Is due or overdue in the
market. and they are watchful to take
Profits or to join the short side. Lon
don buying and good crop reports were
against this element to-day, as was the
general outlook for business and the az.
gresslve strength Of special stocks. But
they found an effective instrument In
the apprehension due to the sharp stiff
fening In the sterling exchange market
and the announcement Of gold exports
$3.50 900 for tomorrow and $500,OOO for
next Tuesday. The special demand for
exchange is said to be due to July remit
tances for dividends and interest pay
nents on securities held abroad and for
other half yearly payments. But the
statement Of the weeks imports of dry
goods at New York shows them to be
valued at s3.3s9. 102, an increase Of s434.-
TO over last week.
This foreshadows an Increase in the
imports Of general merchandise Also as
has been indicated by the larger receipts
from customs by the United States Trea-
sury as reported from day to day. Inn
ports Of non-dutiable articles, such as
wool. continue heavy. Although London
has bought stocks here to-day, sales for
London account have been quite large
during the week. These facts are all
narped on by the bears as indicating
that the outgoing gold movement is
likely to continue for some time yet
The dealings were somewhat better
distributed to-day. Although the vol
ume Of dealings in Sugar Chicago Gas,
st. Paul and Burlington was far in ex-
cess Of that in any other stack, the num-
Der OF stocks in which q thousand shares
or over were sold showed an Increase
and many inactive stocks were stirred
In the railway list Missouri Pacific scor-
ed the extreme advance Of TX per cent
and reacted Sc. Net changes IN the rail-
roads were small either way, some show
Ing gains and some losses. Western
Union and Manhattan were also quite
strong. the former selling ex-dividend
and both held practically all the ad-
vance.
The total sale Of stocks o-nay were
A9.9O3 shares, including Sugar. 10000;
Gas. $4,000: Missouri Pacific. $500;
North Pacific Preferred, $500; Rock Is
land, 1900; st. Paul. 2l.lCO; Tennessee
Coal and Iron, 800: Western Union
5000: Jersey Central 300
The bond market displayed Il broaden
Ing tendency and general Improvements
were registered ii ;h,. .:;nrc prominent
issues. Pacific offerings were well alb
sorhed and 4 higher range Of values es-
tablished. Standard Rope G's were nota-
bly, heavy and yielded per cent. to Co.
The aggregate sales were 81 1894. 900.
1o ,,1a e1o
on light purchases The sales were
$4,000.