The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-06-12
TOWARD HIGHER PLANE.
The Prices of Securities Scored a Further
Step Yesterday for Higher Prices.
TALK OF A BULL POOL AT WORK
This BELIEF whs <Accentuated by the
Contrast OF tho Halt In tho AID.
vance OF tho Active Leaders OF
the Recent Upward Movement,
Notably the Grangers.

New York, June 1.-THE prices Of Sc
eurities to-day scored G further step in
the progress toward a higher plane,
which has continued the dominant ten
dency Of the market now for over two
weeks There was q large amount Of
selling to realize profits from time to
time by holders satisfied with their gains
and sceptical Of the stability and perma-
nence Of the higher range prevailing.
But, as has been the case, more and more
notably, the offerings to realize were
quickly absorbed with only temporary
set back to prices. Closing prices to-day
were generally below the best Of the day.
owing te this profit taking, as was the
case yesterday, net gains being con-
sidera bly, less than the extreme advence
The aggregate Of sales were not so
large as yesterday, being about 100000,
but was the largest Of the year except
yesterday. The list OF transactions also
shows many additional stocks awaken
ed from dormant state into active
trading. This was, in fact, SO markedly
the case as to suggest manipulation with
the purpose Of Bringing inactive stocks
up to the level Of the recently advancing
and astive securities. There was talk
on the exchange Of bull pool at work
IN certain securities This belief was
accentuated by the contrast Of the halt
In the advance Of the active leaders
OF the recent upward movement. nota bly,
the Changers. 1t is a. familiar device
IN a bull market TO realize in one group
or securities while sustaining the market
by purchases in another.
The favorites into-day's advance were
the low priced shares Of reorganized
companies. There were over Is, 900 shares
or Northern Pacific sold, exceeded only
by Sugar with II 900 shares. Northern
Pacific common also showed sales Of
over $4,000 shares. OF Union Pacific a.
QUO shares were sold. This groups Of
stocks has been favorite with London
Tor some time, and the high range at
talned invited some selling by London
TO realize. London was also buyer
Reports from exchanges in other cities OF
revived interest and activity in specula-
ton helped 10 sustain the market. SUI
gars progressive strength also gave tone
10 the whole market, the buying induced
by the progress made with the sugar
schedule In tn Senate. The advence In
the anthracite coalers was accelerate ed
oy the difficulties of the short interest,
whose needs were aggravated by the
increase of the loan rates on the stocks
or this group. The prices or many
stocks were carried below las. nights
cicse by realizing at one time an
other during the day. but ractically Gil
snow snow net gains, the notable exceptions
being Northwest. Omaha and Lead pre-
ferred. Tobacco lost a point Canada
southern at one time reacted IKE, but
gained fraction net. The stocks Of the
IRON companies We're notably strong on
the trade outlook
The btal sales OF stocks to-day were
29b,903 shares, including Tobacco, 10000;
sugar, $4,000; Burlington $4,000: Chicago
Gas. 1880; Delaware and Hudson. $500:
Louisville and Nashville. 500: Nav
York Central, $780, Northern Pacific,
12.2oo: do preferred, 27,so0; Reading, 49,
goo; Rock Island. $4,000; ST. Paul Is, 400;
Tennessee Coal and Iron, $500; Union
Pacific, 800; New Jersey Central $500.
me bond market continues to broa den
from day to day with increa sing
strength In the usually dominant mort
cages. The inquiries for these securities
IS quite good, with wide variations be-
tween bid and asked prices Transac-
lions noted are several points above pre-
vious sales. with some issues record
ing exceptional changes Trading in
Inc speculative isue quieted down some
Hhat with iluctuaticn MS narrow. The ag-
gregate sales We're s1,S61. 600 Govern
ments continued to trend upward, with
business confined 10 counter dealings