The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-24
ANOTHER DAY OF NOTABLE
STRENGTH IN THE MARKET
FOR STOCKS.
BUYING DEMAND WAS KEEN.
COMMISSION HOUSE ORDERS OF A
SPECULATIVE CHARACTER
IN EVIDENCE.
UPS AND DOWNS DURING THE DAY.
Profit Taking, Especially in Gas and
Sugar, Responsible for the
Temporary RecessiOns.

NEW YORK, June 23.-Today was another
day OF marked strength in the market for
stocks, the dealings being large and the buy
ing demand keen, SO that the tendency of
prices was strongly upward. There were ups
and downs during the day, the latter on profit
taxing, 1or the most part, but the close of the
Gays trading found prices generally above
last nights close. The outside interest in
the market shows large increase and commits
sion houses report a great accession of orders
OF a speculative character following the solid
investment buying that has been going on for
some time, and which today's developments
indicate is still going on. The buying was
almost wholly a result of the confidence in
the general outlook for business There was
little news, accompanying the upward move
ment of prices, and therefore little to record
beyond the mere changes in prices. Good
buying continued in Northwest but the price
OF the stock moved quite narrowly, affecting
the price of other stocks by sympathy about
as much as itself. The grangers were all in
keen demand, and showed a substantial gain
on the day. The same was true of all West
ern and Southwestern railroad properties,
where the crops promise to be abundant and
bring business Improvement all through those
sections.
Sugar and Chicago Gas were both under
and held back the market. When these two
stocks came into harmony and moved upward
the highest prices of the day were recorded
for many stocks. The strength in the coalers
developed after noon, and the movement in
the group became strong and aggressive and
the dealings quite animated. The rate at
which prices rose was an indication that
there is not large quantity of these stocks,
except Reading, floating in the market
Sharp advancement in some of the high
priced investment stocks were feature New
York, Lackawanna & Western jumping 91a
on the sale of 100 shares. The volume of
dealings was large, but Sugar, st. Paul, Chi
cago Gas, Reading and Tobacco absorbed half
the total sales. St. Paul, at S0A touched
the highest price since the panic of 1893.
The announcement of an additional shipment
OF $65O,0O0 in gold by tomorrow's steamer
only affected the market for a brief time
Inc gains in the cOalers extended to 2h for
Delaware & Hudson, "a for New Jersey Cen
tral, Tor Lackawanna, and IA for Reading
first preferred. Susquehanna & Western lost
a fraction Tobacco jumped 8, to ", and re-
acted IA, while the preferred stock gained
a similar amount and held it. Other gains
were: Pullman, 2; Iowa Central Lake Erie
& Western preferred Louisville, Bay State
Gas, Illinois Steel Lead preferred Consoi-
a point or over. Colorado Fuel lost IA Su-
gar moved over range of rs, but closed Il
off on the day.
The bond market showed no abatement of
the decided strength that has characterized
It's operations for some time. The speculation
was quite broad, and material gains were
established in many liens. The middle grade
securities were largely dealt in, and regis
tered the extreme Improvements which ex-
tended to Az per cent in Peoria, Decatur e.
evansville hrsts, Evansville division. The
aggregate sales were $6,9S4 600. Governments
We're neglected at the board but bid quota
lions were slightly higher
The total sales of stocks today were 270 $50
shares, including the following: Tobacco r.
coo; Sugar, $4,000; Burlington, % 500; Chicago
Gas, Is, 400; L. & N, $500; Manhattan 4 900;
Northern Pacific preferred 1850; Omaha,
100; Reading, 500; Rock Island, SOOO ST.
Paul. 1000.
The following were the fluctuations of the
leading railway and industrial shares fur
nished by c. H. F. Smith & Co.. members
New York stock exchange and Chicago board
of trade: