The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-07-02
The New York Stock Market,

New York. June 30.-TodaN'S market for
securities was not distinctly reactionary
at any time. as was yesterdays. but there
was a lack of aggressiveness in IL and q
manifest sense OF rebuff among the bull
contingent. The admonition contained in
yesterdays lively selling by London that
the advance in prices was going too fast.
even If il were not going too far, was
taken 10 heart and had a quoting in
fluence. There was a gentleness OF de-
meanor shown by the bulls and the buoy
ancy was taken out of prices generally.
This was the more notable as there were
not such hearty offerings TO realize profits
as was the case yesterday. The result
was a dull market. compared with recent
days, although the total sales of stocks
approached 100000 shares. OF these over
IS, 900 were of St. Paul and the addition
of sales of Sugar. Burlington. Chicago
Gas, Rock Island and Northern Pacific.
preferred. leaves less than half the total
still to be for. So far as gem
cral news was concerned there was no
change in the encouraging outlook which
had accompanied the long and steady ad-
vance. Crop advices continued good; such
railroad earnings as were published were
not discouraging: the likelihood was
strengthened that no gold would go out
this week and the money market dis
PLAYED a distinctly better tone than for
~ a. f'''N- - - A'Df'E ',A>
held at from Ia to IL, as against l to IL
for a long time past
Merchants and importers were in the
market for loans on IMPORTS and to with
draw goods from bond, and the demand
for money to put into stocks and SeCuri-
ties continued. After the opening depreS-
sion. the bulls did, in fact. carry prices
very generally above last nights close.
The granger and coalcrs were particular
~ strong in this upward movement and
the former showed the tirmest resistance
to the subsequent decline. Stocks which
rose more than a point over last nights
close were Sugar. Rock Island. CONSOLE
dated Gas, Delaware and Hudson and
New Jersey Central. The subsequent re-
action wiped out the gains throughout
the whole list and the only important
stocks to rally to a net gain Were Della
ware and Hudson, q point, and Rock
Island, Manhattan and Tennessee Coal.
fractions. Net losses were general even
at the final rally and extended to n point
in Laclede Gas preferred, Lead, Pullman
and Tobacco. There were a few special
causes for depression of individual stocks.
such as the apprehension that the sugar
schedule of the tariff bill would be
changed so as to lessen the protection on
refined sugar. Northern Pacific preferred
reflected the belief among security deal
ers that the plans for the harmonious
operation of Northern Pacific and Great
Northern had come to a pause through
differences between President Hill and
the Northern Pacific voting trustees. 1t
is probable that industrial shares gener-
ally reflected some apprehension caused py
the result of the indictment of the To-
bacco Company officials for combining In
restraint of trade, although a disagree
ment showed ten jurors for conviction.
The total sale of stocks today We're
2S5. go shares. including American To-
bacco Company 400. American Sugar 81.
200, Burlington and Quincy 10000, Chicago
Gas q. 200. New York, Susquehanna and
Western 1000, Northern Pacific, preferred
Il, 800. Omaha $500, Reading $500, Rock
Island $500, St. Paul 1900, Western
Union Telegraph 800, New Jersey Cen
trail 500. The bond market was inactive,
but ruled fairly firm, although some OF
the speculative issues fell off slightly on
profit taking. Transactions in the gilt
edged bonds were quite numerous. at sub
stantial improvements in some instances.
rhe aggregate sales were 1924. 900. Gov
ernments continued firm on light dealings.
The sales were $1,000.