The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-07-01
ADMONITION OF LONDON TAKEN TO
HEART BY THE STOCK SPEC
ULATORS.
NET DECLINES ARE GENERAL.
CLOSE OF THE PREVIOUS
DAY.
Only u Few of the Important Shares
Carried Up to a Net Gain
Bonds Firm.

NEW YORK, June 30.-Todays market for
securities was not distinctly reactionary at
any time, was yesterdays, but there was
lack Of aggressiveness in it and 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 1t were not going
too far, was taken to heart and had quiet
ing influence. There was gentleness OF de-
meanor shown by the bulls, and the buoyancy
was taken out of prices generally. This was
the more notable, as there were not such
heavy offerings to realize profits as was the
case yesterday. So far general news was
concerned there was no change in the encour-
aging outlook which accompanied the long
and steady advance Crop advices continued
good, such railroad earnings as were pub
lished were not discouraging, the likelihood
was strengthened that no gold would go out
this week and the money market displayed
distinctly better tone than for weeks past.
Rates for call money were held at from IL
to ~. 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 securities con-
tinued.
After the opening depression the bulls did
carry prices very generally above last nights
close. Inc RranSerS anu cOdeTS were par
ticularly strong in this upward movement,
and the former showed the frmest resistance
to the subsequent decline Stocks which rose
more than a point over last nights close
were Sugar, Rock Island, Consolidated Gas,
Delaware & Hudson and New Jersey Central.
The subsequent reaction wiped out the gains
through the whole list, and the only impor-
tant stocks to rally to a net gain were Del
aware Hudson, point and Rock Island,
Manhattan and Tennessee Coal fractions. Net
losses were general even at the final rally,
and extended to a point in Laclede Gas pfd.,
Lead. Pullman and Tobacco.
There were few special causes for de-
preston of individual stocks, such as the ap-
prehension that the sugar schedule of the
tariff bill would be changed so as to lessen
the protection on refined sugar. Northern Pa
cifc pfd. reflected the belief among secu-
rity dealers that the plans for the harmoni-
Gus operation of Northern Pacific and Great
Northern had come to a pause through differ
ences between President Hill and the North
ern Pacific voting trustees. 1t is probable
that industrial shares generally reflected some
apprehension caused by the result of the trial
OF the tobacco company officials for COM
bining in restraint of trade although a dis
agreement showed ten jurors for convic-
ton.
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 substantial improvements
in some instances. The aggregate sales were
1924 900. Governments continued firm on
light dealings. The sales were $4,000.
The total sales Of stocks today were 2S5. 900
shares, including: Tobacco, $500; Sugar, 34,-
L. G NJ, 1900; National Lead, 1900; New
York Central, 1000; Northwestern, 5000;
Northern Pacific pfd., 1880; Omaha, $500;
Reading, 1890; Rock Island $780, st. Paul
$1,000; Western Union, 1850; Southern Rail-
way pfd., 1900.
The following were the fluctuations of the
leading railway and industrial shares fur
nished by c. II. F. Smith 4 Co.. members
New York stock exchange and Chicago board
of trade: