The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-22
BEAR SIDE TOSSED
EFFORTS OF PROFESSIONALS TO
FORCE A REACTION IN STOCKS
ABORTIVE.
STANDARD SHARES HIGHER.
AFTER SOME WEAKNESS EARLY
THERE WAS A GOOD RALLY ALL
AROUND.
N. p. PREFERRED WAS IN DEMAND.
Decline of Nearly a Point Followed
by an Up Turn to u Net Gain
for the Day.
N. p. PREFERRED WAS IN DEMAND.

NEW YORK, June 21.-The efforts Of the
professional traders to work a reaction in
the stock market have again proved abortlve
today, and the result of the tradings show
net gains in the majority of standard shares.
The recent order Of things was somewhat
reversed in that the sagging tendency or
prices came early in the day and it was
overcome later by the rally. Perhaps the
most ominous circumstance of the days
market was the fact that the dealings sank
into a condition of almost total apathy, with
prices tending upward. There was no pres
sure to sell stocks. The lower prices at the
opening came in face Of some slight i'm
provements in London, where, however, the
dealings were almost stagnant. Later in the
day London was a buyer and was a factor in
rallying the market. The effective inStru-
ment in e~ffecting the early decline was the
talk Of large gold shipments later in the
week. Tomorrow's shipments were not In
creased over the 81, $50, 900 announced last
week. The tone Of exchange was firm, but
the market was so exceedingly quiet that
apprehensions as to the volume of exports
subsidized to a large extent. The quietness
of exchange was attributed partly to the
jubilee holiday in London. 1t is believed that
a shipment of gold Of large dimensions will
be made before the end of the week.
The immediate impetus to the rally in the
market came from the strength in the Wander
bits. This commenced in Northwestern on
the talk Of progress being made in the plan
to refund the bonds Of this road in a way
to benefit the stock. The Improvement in
Omaha was due to sympathy with Northwest
ern, which owns a controlling interest in
Omaha. Both stocks were helped by the
general strength in the granger group on
crop prospects. The favorable showing for
New York Central for the quarter, with a
surplus earned of $256, 0O0, against a deficit for
the same period last year of $107, COZ, broaden
ed the demand for the Vanderbilts and prac-
ticall all the members of their group adj
vanced and the whole market was sympatheti-
cally affected. The-rise from the early low
point in Omaha was 214; Northwestern, 19s;
New York Central, rs; Canada Southern, a
point, in Burlington, st. Paul and Rock Island
a large fraction each. New York, New Haven
& Hartford gained 3 over the low point. North
ern Pacific preferred was largely dealt in and,
after a decline of e., rallied over Saturdays
close on the belief that the election of
Daniel Lamont, representing the Hill inter-
est, to succeed President Winter, had been
decided upon. Sugar lost u on the day, after
fuctuating over a fractional range quite err
radically. Chicago Gas also recovered prac-
tically all of an early decline Of rs; Rubber
preferred dropped "a and Consolidated Gas
2A.
Trading in bonds was quiet and values var
led but little. The undertone, however, was
firm with some the unusually inactive mort
cages conspicuous for material gains, notably
Omaha & St. Louis first trust receipts, which
gained a., and Louisville & New Albany con-
soils 3 per cent. The aggregate sales were
81, 2S4, 600. Governments continued to move
up on light purchases. The transactions were
So, 600.
The total sales of stocks today were ia, SIC
shares, including: Sugar, 27,800; Burlington,
$500; Chicago Gas. 16, 800; Northwestern,
$500: Northern Pacific pfd, 10, 800; st. Paul,
II, 500; Western Union, {, 100.