The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1897-06-17
DECLINE !; WAS SMALL.
4 Continuation Of the Heavy Profit Taking
Was the Feature Yesterday.
At TIMES THE PRICES ROSE SHARPLY
The Utter Dizziness OF tho Dealings
In London on Account of the Jnbi.
stimulating Factor = sugar Was
BOth Strong and Depressed.

New York, June 16-To-day was mark
ed by a continuation of the heavy profit
taking which was feature OF yester-
days trading, and though the day
closes with the prices Of MANY Of the
most prominent stocks below yesterdays
closing prices, the average decline Is
small, showing good resistance TO the
large selling. There were times during
the day when prices rose sharply above
yesterdays closing, but the higher level
invited realizing in each instance. There
was continuance of the good commits
sion house buying which has been
feature for some time past, and which
sustalnS values with remarkable firm
ness. The short interest, however seems
practically eliminated from the market
and the needs Of this element, which
usually serve to strengthen an upward
movement, were not q factor. The utter
dizziness Of the dealings in London on
account of the jubilee festivities also
withdraws stimulating factor The an
nouncement that Japan had filed pro-
test at Washington against the annexa-
tlon OF Hawaii, now In progress of nego-
tiation had a influence on the selling
TO some extent, though this influence
was largely sentimental. The movement
OF special stocks had a sympathetic eff
feet on the market, which was more
4ulPollduI lnaC OIL general COHQl-
lions. Sugar. was strong OH the votes of
yesterday in the Senate, disposing of
the sugar schedule, but the latter de-
pressen on the news that the treaty for
the annexation of Hawaii had been sign
ed by Secretary Sherman and the Ha-
walian representative. The selling on
this news was biased on the presumption
that the sugar company would derive
benefit from the abroga ton Of the Ha-
Walian reciprocity treaty and the impo-
sition of a tariff on Hawaiian sugar
This stock was dealt in to-day eX-
dividend. Chicago Gas was also very
active all day and showed the effect OF
large purchases by inside interests The
early advance was practically wiped out
IN the later selling movement The eX-
IRENE range Of these two stocks was
traction over u point. The transactions
IN them absorbed fully one third Of the
total sales.
The Coalers advanced early. Della
ware and Hudson to the extent OF a
point, but the bears opened their bat
teries upon the group quite nercely and
worked recessions in New Jersey Contra
OF points; ID. and Fl. sc, and the
Reading shares nearly 4 point Bay
State Gas and East R.vca Gas rose over
point, and East River preferred Q
points. ather preferred Also advanced
strongly. lAc.. but reacted subsequently,
Cleveland. Cincinnati , '.irasgo and ST
Louis preferred hro!t i; c.. compared
with 40, The last sale. the stock is very
inactive anu the fail : due IA the pass
Ing OF the dividend The rariy advances
We're fractional. ANA The declines were
enough in excess 10 leave fractional net
losses all through the list The decline
extended 10 4 point or over in North
west, Louisville and Nashville, Missouri
Paclilc, Susuuchanna ana Western pre-
ferred. Western Union. ST Joe and
Grand Island first preferred and Ixacedo
Gas preferred re. net.
The 10 tai sale of stocks to-day was
2S3,522 shares, including Sugar, &c. 600.
burlington and Quincy 1i.30O: Chicago
Gas, 3l.4o0: d. and ~. 5000: Northwest
5,500; Northern Pacific preferred see.
Reading. $500: ST. Paul. l2.2O0; West
ern Union, Zoo; Jersey Central. 100.
The bond market displayed little fen
pure. but values Were we'll sustained for
the leading shares during The greater
part part OF the day. with some of the
less active securities conspicuous for
material improvements In the final
dealings the speculative issues tended
lower in sympathy with the heayjness Of
INC snare speculation. The sales were
$1.267 600
NoNernment bonds were quiet but firm;
the transactions We're $12, ZOO.