The Saint Paul globe., 1897-06-30
SHARELIST ERRATIc
THE NEW YORK MARKET ONE TO
DELIGHT THE PROFESSIONAL
TRADER.
MIXED GAINS AND LOSSES.
PRICES CARRIED DOWN LATE TO
THE LOW POINT FOR THE
DAY.
REACTIONARY TENDENCY LATENT.
early 1t Was Held In Check by the
Strength of Sugar ami Chi
cagO Gas.
REACTIONARY TENDENCY LATENT.

NEW YORK, June 29.-The market for Sc
curities today was one to delight the pro-
fessional trader, fluctuations in many OF the
leading shares being wide and very erratlc.
Sugar moved over a range Of 81 during the
day. dancing up and down by spurts ana ralls
Chicago Gas was almost equally wide in It's
fluctuations, and was as erratic and even
more active. The range of these two great
centers of speculation above last nights
close in the early dealings, and especially OF
Sugar and this tended to- restrain the dis
tinct tendency towards reaction, which was
latent in the market all day, and which final
ly overcame the whole list. The London
exchange is fast settling down to normal
activity again, after the interruption of the
jubilee festivities, and prices there reflected
the opinion of dealers that the advance Of
prices on the New York exchange had been
more precipitate than was warranted by the
conditions. This influence was reinforced
by heavy selling here for London account.
Prices in the list generally were feverish,
especially the grangers and sagged to a
marked degree, aside from special cases,
giving a very irregular aspect to the mar
ket. General strength and rally followed
the publication of the Burlington statement
for May, showing an increase in net earnings
of $209, sos
The lowering of posted rates of exchange
12c to $4.S6h for long and SASS for short
bills also impaired confidence, rejecting the
weakness Of the exchange market and the
probability that gold shipments would be
light or entirely suspended this week. But
when heavy liquidation in Sugar and Chi
cago Gas set in during the final hour the
doubts of holders returned in full force, and
stocks of all the leading properties were
thrown over at lively rate, in a feverish
desire to realize, and prices generally were
carried down to the lowest point of the day.
partial rally in Chicago Gas stiffened prices
above the lowest leaving final results mixed
between gains and losses. Most of the prom
inent active shares show losses extending to
1A in Sugar, 21S in Standard Rope and over
point in Burlington, Rock Island, Louisville
and Manhattan. Northern Pacific preferred
developed heaviness on the belief that the
differences between the Hill interests and the
voting trustees were about to culminate.
The coalers resisted the general heaviness on
the increase in the circular rates for An
thracite coal. Among the most prominent
stocks to show gains, though only fractional
were Tobacco, which was strong and very
active during the greater part of the day;
New Jersey Central, Omaha Tenn essee Coal
and st. Louis Southwestern. In the inactive
list some marked net gains were shown. East
River Gas preferred rose AS over the last sale
and the common stock rs. Rio Grande West
ern rose 3; Rio Grande Western preferred,
IA, c., C., G. & St. L. preferred and CO.
orado Fuel, 2, and Laclede Gas preferred,
Lead preferred, Michigan Central, Mime
apolis & ST. Louis second preferred Spirits
preferred and Tobacco scrip a point or
over. The volume of transactions was almost
as large as yesterday but over three-fifths
of the dealings were concentrated in Chi
cago Gas, Sugar, the Grangers, Tobacco and
Atchison preferred. -. .'-., .s-> --..:
The upward movement in railroad mort
cages was continued with considerable vigor,
despite the extreme heaviness of the stock
speculation. Some few bonds suffered from
liquidation, particularly American Spirit skies,
which lost per cent. The sales were 50, ,405. :
COO. Government bonds were steady at big
prices and were without sale.
The total sales of stocks today were 1872 =
1GS shares, including: Tobacco, 1900; Atchi-
son. S,Oco; Sugar, $500; Burlington, 37,1OO;
| Chicago Gas, $500; General Electric 5000 !;
L. & NJ, $500 National Lead, $780, North
| vest; 5,4oC; Northern Pacific pfd, 4CO0;
| Omaha, 14,200; Reading, 16, O9G; Rock Island,
2O,1O0; st. Paul. 5000: Tennessee Coal, 10 100;
10000.
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: