The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-26
THE LEVEL OF THE PREVI-
Gus DAY.
MARKET WAS LOWER LATER.
FRACTIONAL NET LOSSES IN MA
JORITY OF THE PROMINENT
SHARES.
UNDERroNE ONE OFF STRENGTH
Heavy Gold Shipments the Main
Factor in Inducing Free Real
iz1ng Sales-BOnds Active.

NEW YORK, June 24.-Many thousands Of
shares of stocks were bought on the exchange
today at prices materially above last nights
closing prices, the advance extending to a
point or over in many prominent stocks But
the market sold off later in the day on &C
count of the large volume of the gold ship
ments by tomorrows steamer, 81, 300 coo in all
being engaged for export. Additional I'M
easiness caused by the fact that the whole
amount was taken from the United States sub
treasury or from the assay office, In bars, and
no part from the banks or from private
sources, as has been the case with most of
the recent shipments. The decline in the
price of stocks which resulted was very
marked, offerings to realize being very freely
made for time and the heaviness extended
all through the hist. The decline, however,
brought dullness and a diminution of offer
ings indicating the undertone of strength In
the market. The weeks gold shipments now
amount to 81, 800, 600, which is larger amount
than has gone out in one week since the first
week Of the present movement, that ending
May 8, when the exports were SO, 0O0, 900.
The subsistence Of apprehension on account
of gold exports, in the stock market has been
mostly due to the stability shown by the
gold reserve in the United States treasury for
several weeks past about s144 COX, 900 in face of
SOhoiiioSO OApOt Us VI 6Vlu Dy SXCndIlS6 houses.
The amount Of gold in the treasury at the
close of business yesterday was $142, 1888, 486,
which is considerably less than at any time
since the present gold movement began. OF
course today's additional Withdrawals of 81
100000 do not appear in the above statement
OF gold in the treasury. The sterling ex-
change market was easier under offerings
OF bills against the gold shipments, sixty day
bills receding II to $4.86. But it is expected
that there will be sufficient demand to stiffen
exchange rates next week. with further gold
shipments as a consequence The supply of
exchange IN the market is In fact very
meager, and any extra demand has to be met
by gold shipments.
The volume of dealings today was larger
than on any previous day Of the year, the
total sales of all stocks reaching 325 900
shares, but nearly two-thirds of that amount
was absorbed by Sugar, the grangers, Chicago
Gas and Bay State Gas. There were SO 900
shares of Sugar and about $4,000 shares each
of st. Paul and Burlington sold during the
day. Sugar and the grangers led the advance,
but the list generally reacted to below last
nights close, showing net losses on the day.
Sugar, however, rallied partially and closed
with net gain Of 11a. Rock Island is the
only one OF the grangers to show a net gain
which amounts to IS Manhattan and Western
Union gained 70 net each, and New York
Central small fraction. Northern Pacific
was weak on rumors of a halt in the ar
rangement for putting into executive control
those in harmony with Great Northern inter-
ests. Union Pacific reacted on the action of
the United States senate committee in favor
OF suspending proceedings to sell the United
States interests to a syndicate. The more
notable gains in the early advance were: Su-
md Toho Do,
west, Rock Island, Manhattan and New York
Central point or over Losses, which are
fractional generally, extend to point in New
Jersey Central and New York, Chicago and
st. Louis second pfd., rs in Colorado Fuel.
and "a in Illinois Steel. OF the inactive
stocks Chicago & Eastern Illinois pfd. gained
points, Rio Grande Western pfd 424
Omaha pfd, 3; Tobacco script q and Erie.
telegraph, Minnesota iron and Northwest DID.
a point.
The bond market displayed considerable an
lmation today, the transactions exceeding 81
600, 600. The buoyancy was apparent in a va
riety Of issues with some sensational advances
noted in the usually inactive mortgages, par
t1cuiarly Missouri Pacific collateral fves
which rose IL per cent to So. The low-priced
bonds displayed aggressive strength with pur-
chases of the git-edged liens by investment
interests tending to accentuate the unwa I'd
movement which has been in evidence for a
long time. Governments were slightly higher
on transactions a block of 500, 900 of IS cou
pom changing hands at Hay
me total sales Of stocks today were 31S 172
shares, including: Tobacco 5000; Sugar, 55.-
500; Burlington, $500; Chicago Gas, Is, 600
l.; & N, $500; Manhattan, $500; Missouri Pa,
e:dc, 5000; Northwest, 10000; Northern Pa
cifc pfd., $500; Omaha, 7,4CO; Reading, 7. 200.
Rock Island, 22,00o; st. Paul 81 100; Union
Pacific, 1900; Western Union 1890; Southern
Railway pfd., 4,100.
The following were the fluctuations of the
leading railway and industrial shares fur
n1shed by c. H. F. Smith & Co.. members
of trade: o' O