The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-29
NET GAINS The RULE
aS1.SssSsssa ~; ses'- s's
STOCK DEALINGS LARGE IN VOL
UME WITH A STRONG UPWARD
TREND.
LIQUIDATION IN LEADERS.
FREE REALIZING SALES FAILED
TO BRING ABOUT ANY PERMA-
NENT REACTION.
LIQUIDATION IN LEADER
LAGGARDs EXPECTED TO NOV E UP.
Profits Taken In Shares That Have
Advanced and Put Into the
Inactive Securities.

NEW YORK, June 28.-Today's market for
securities was marked by large volume OF
the transactions and great animation III
the dealings, as well as by the continued
strong upward movement Of prices. Inc
marked exceptions to the greatest strength
were the active stocks which have been re-
cent leaders of the advance, and in when
there heavy realizing today. This reallz-
ing was to large extent by the professional
element, and represented simply transfer Oh
holdings from stocks which have moved
freely upward to others that have Jagged in
the advance, their calculations evidently being
that the advance of the laggards is merely
deferred. Such a transfer was made on
very large scale, from Burlington to st.
Paul. The latter stock has not moved as
freely as the other grangers, and Burling-
toms relative price has come up from be-
low that of st. Paul to several points ahead
of It, This has led professional traders to
take their profits in Burlington and to teams
fer their holdings to st. Paul. The jump In
the price of st. Paul at the opening invited
some sales of stock by the arbitrage brokers
for London account, which served as par
tial restraint on Its advance. Similar ma
neuvers to this transfer were executed at
other points in the list. Considering the
proportions of this liquidation the stocks af-
even strong in some cases.
A reactionary tendency was induced at one
time in the market generally and the ever
watchful bears again believed their oppor-
tunity had come and sold stocks, some prices
receding below Saturdays closing level. This
was notably the case in Burlington and
Northwest. st. Paul led the list, with sales
of $4,000 shares, and Sugar was less than
LOCO shares behind About $1,000 shares of
Chicago Gas also changed hands. The total
sales of all stocks were 900 shares, which
has not been exceeded nor equalled since the
three days following election last fall.
Besides the extraordinary volume of the
transactions, their wide distribution was
noticeable feature. The dealings were dis
seminated all through the inactive list, and
even the soft coal roads, whose values are
at the lowest ebb, as a group, of any on the
list, came in for share of attention. Hook
ing Valley enjoyed rise from 2A to 33s.
Sugar showed strength all day and gained
AS. Chicago Gas was also very strong, and
advanced Us. Net gains were the rule and
extended to point or over in Brooklyn
Rapid Transit 212, Lead, General Electric,
Chicago & Eastern Illinois, Z; Long Island,
4; D. & R. G. pfd, Illinois Central Ore
gon Short Line, St. Paul, r. l. and P, c.,
c. & st. L. pfd, East River Gas and Con-
soldated Gas, 2a8 each. Colorado Fuel lost
l, with subsequent recovery. Illinois Steel
declined PA without a rally on account Of
prospective labor troubles. Bay State Gas,
Norfolk & Western pfd and st. Louis & Santa
Fe first and second preferred are also down
a fraction.
The brisk demand apparent for railway and
miscellaneous mortgages was reflected in sub
stantially higher prices for many issues on
transactions of $3.50 0OO of which about ST.
10000 was dealt in during the first hour of
trading. The purchases of the high grade
securities were characterized by material
fluctuations, st. Paul gold Is and c., c., C.
4 |. registering an extreme rise of per
cent each. The gains elsewhere in the market
were less noteworthy. Round amounts Of
the high-priced liens were taken for invest
ment and speculative account with consid-
cradle confidence, with the foreign interests
absorbing offerings of the international prop
critics. Governments were quiet but dis
played a firm tone, with some issues i'm
proving slightly. The sales were So 600.
The total sales Of stocks today were 433, 272
shares, including Tobacco, $500; Atchison
100; Sugar 81, 400; Burlington % 500; Can
ada Southern, 16,0OO Chicago Cas- Sc 6O0 l..
NJ, 10,OOO; General Electric, $500; Man
haitian, 5000; Missouri Pacific, 6100: National
Lead, 100; New York Central IL 900; North
ern Pacific pfd, $500; Northwest, 800;
81 300; ST. Paul. $1,000; Texas Pacific, $500;
Western Union, IA 500; Southern Railway
3,100; Southern Railway pfd, 800; New Jer-
sey Central, 5000
The following were the fluctuations Of the
leading railway and industrial shares fur
nished by C. H. F. Smith & Co., members
New York stock exchange and Chicago board
Of trade: