The times. [volume] (Richmond, Va.) 1890-1903, 1897-06-27
FINANCE COMMERCE
INN CLOSING OrorATfoNS or
MONII.
Offerings and Sales NJ the Richmond To-
hscco -int'rh"i "e'ch"e
OBSERVATION-DISCLOSURES Advances.

NEW YORK. June ~25.-To-day's stock
market showed "a subsistence OF the ap-
ryolouelon caused yesterday by the
x.f,Yoo III tho gold shipments for to-day
md The week. and turned again 10 the
ball side with greater animation ana con-
adcnco than ever:
fhc first hour ln continuation OF ycster-
Jave gold export Fears aud on reported
opinions that thc coming week wouln VIII
moss tho shipment Of an oven lsig'r
amount Of gold. The theorists IN favor
OF "a necessary reaction iu the. maihei
were husliy at work on his basis, ana
sought -sirOuuously TO uring dncut TIE
reaction which they confidently J. nihl"il
s. long overdue ln the marxct ana mnst
como ultimately. The 81. Paul statement
,or Nav. showing an Increase in ii'ts
EARNINGS of Slui no. and I'm net or SllN.f'p,
was tha first influence 10 stem toe own
ward couts" OF prices. l'' '',. POM =.
the morning Was a slight uactcn ic.0W
last nights close Ina many stotk f. ih'
yalIv WAS characterized boy treat 'nin"-
iuu and hy heavy dealings. tho p'"iiiN'ii
stocks changing hands ht i'.te u'.
Burlington was the leader Of TIE maik'i
an point Of activity. and was ttllltu Np
ia from Tho low point. ami held lncIe
until the close. Tho week has witness q n
further notable raising OF tine IcNei OF
prices. the advance being cfpeciillN upla-
lia in tine granger group. and not being
30 we'll distributed through the lst az
ln some previous weeks. Ihe ni1tfrt as
q whole has firmly resisted an attei'lis
10 work IL reaction. the seNHt'ri ftihin
r0miug ON Friday with tle news tlat ihe
week gold shipments nHd fln u) 10 "
figure exceeding amy week since lie llSl
Of the present movement. me present
liqh level Of prices IS generally iccoe-
nizcd as ~diecounfing commercial and IN
dustrial changes which are vet % le 'oal-
lied. But The hrmi4ess with which the
high prices are held IS a 'oeailie ~ lhe
confidence of security holders that iN'nic
conditions win improve TO warrant hign'r
prices. The advance ia spoken ot as
steady. which IS true of The nf'rd-e } rec,
but tho whole market mas not moved uni
fOrmiy. AT times some one stoch mas
taken the lead. as has been tine case IN
marked degree with Northeast this week
Oh tho prospect of REBUILDING is npnds so
as 20 benefit the stock. SItdr meo' "
similar bound on the agreement OF ihe
Republicans uUou tho 0nrHr tohfiuic stl-
rral weeks ago. These special NOV mems
have helped lO raise Inc icNcl nl ttiitr
prices. though iu Jess degree. Ihe g.anf-
FRS ana NandefhIls - fiou'7 ivy az
nthcr times assumed the leadership. och
fay also has Witnessed is nNr Ii"fNiaf-
". the vibration some times carrying
prices generally below The previous DAY.
with a rally. and sometimes above, With
p reaction. The result has nocn 10 maj O.
the average net change small. hNt al
n ost invariably ON fIe sill" ~ alliance.
Many professional Operators are c)ni-
fent thai the level Of the market had adj
vancCd TOO FAR 90 Doe warranted hv pres
rut conditions. They ore az Wpik con-
stantiy 10 effect a. roa-- m. but Their AT
most efforts have hI'1cifl been nnsic-
cessful. eXcep in q tflVal lcgrec. and
Nll their offerings have bonn promptly and
steadily absorbed. The idea Of the bear
traders SIS that II they were able 10 work
o. reaction of imposing proportions Toy ma
nipulafion they would catch an enormous
number Of stop orders. and perhaps even
q large amount Of lang stock. tempted by
The very considerable advance of the last
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