The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-18
PROFIT TAKING OVER
IT'S UPWARD MOVEMENT RESUMED
BY THE NEW YORK STOCK
MARkET,
~ "a
LEADING SHARES IN QUEST.
SPECIAL INFLUENCES ADDED TO
THE STRENGTH IN A NUMBER
OF CASES.
NET GAINS THROUGHOUT THE LIST.
Northern Pacific Scored "a Gain and
Was One of the Stocks Heavily
Dealt In.

NEW YORK June 1.-THE strong upward
tendency of prices for securities was resumed
on the stock exchange today, after the re-
dictionary tendency of the last two days. A
powerful group of professional traders have
been selling out their holdings during the two
previous days to realize profits They have
coupled this vancouver without expression of
the conviction that the market would prove
healthier for reaction rather than with too
long a continuance of steady advance. The
reaction has not been caused by any general
condition seriously affecting values, but, as
indicated by manipulation with a view to
keeping its tone. Yesterdays selling was &C
companied by some expressions of apprehen-
sion regarding possible foreign complications
growing out of the Hawaiian annexation
project. But these apprehensionS were heard
no more of today. Today's developments in
dictate either that the large operators have
completed the taking of their profits or have
found the market toe firm to effect marked
reaction. The buying seemed directed again
to the leading stocks in which the strong up
ward movement of three weeks ago originated,
and which have been, for some time, station
airy while the bull campaign was directed to
other groups.
The market today was largely professional.
Operations for the foreign account were of
small dimensions. Some of the specialties en-
joyed the benefit of special influences and
this also added to the strength Of the mar
ket. st. Paul was retarded by London selling,
but was strong on the second weeks state
ment showing an increase of nearly $31, 900 in
gross earnings, and like the first weeks earn
ings, the largest for the corresponding pc
Rod since 1893. Des Moines & Fort Dodge
pfd. jumped s per cent to s. bid on the an
nouncement of the dividend of per cent.
Cotton Oil pfd. rose 21a. Delaware & Hudson
moved over range of 21s and closed q lower
on the day. The net gains, which were gen
eral throughout the list, reached a point or
in Sugar, Chicago Gas, Tobacco, Starch,
Rock Island, Burlington, Northwest, Omaha,
New Jersey Central and Manhattan. Northern
Pacific pfd. was heavily dealt in and advanced
e.
The bond market continued to display
marked strength, which was most manifest
in the middle grade issues. Gains Of sub
stantial fractions were made in the active Sc
curities, while some of the gilt-edged mort
cages were conspicuous for material gains.
The aggregate sales were s., 267, 900. Govern
ments were neglected, but quite firm. The
sales were $4,000.
The total sales of stocks today were 250772
shares, including: Tobacco, 3,400; Sugar, H.
500; Burlington, 26S00; Chicago Gas, 6,400;
Delaware & Hudson, 1920; l.. & N, $500;
Manhattan, 300; Missouri Pacific, 300;
Northwestern, 1900; Northern Pacific pfd.,
11,3OO Omaha, $500; Reading, 400; Rock
Island, 12,5OO ST. Paul, 81, 100; Tennessee Coal.
3, 700; Union Pacific, 700; Western Union, 81
$780, Southern Ry. pfd., 400; N. ]. Central,
$500.
The following were the fluctuations of the
leading railway and Industrial shares fur
nished by C. II. F. Smith & Co., members
New York stock exchange and Chicago board
of trade: