The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1897-06-04
Etmamcial.
sudden Death of Samuel L. Post ourtails
Volume of Business,

Volume of Business,
New York, June 3.-Prices on the
stock exchange were in full swing up
wards all along the line to-day, when
Samuel L. Post, an old and popular
member of the stock exchange was
seized with heart disease and expired
almost Immediately on the floor, This
visitation of death put an immediate
stop to the trading in stocks and it
was not resumed for nearly two hours.
The volume of business was, in conse-
quence, largely curtailed, many active
operators Withdrawing from the deal
ings for the remainder of the day. The
confidence of yesterday, at which all
offerings were absorbed, even a large
amount of stocks which had been
bought for London account and were
reserved here, had it's effect in London
to-day in the tone of the market there
for American securities. There We're
active demand and advancing prices as
long as trading continued in London,
and after 1t ceased large purchases We're
made here of favorite stocks for Lon
don account.
The London buying was the most po-
tent factor in the market, supplement-
ed by the sympathetic strength radiat-
ed from some special stocks. 1t moved
prices upwards to q point materially
above last nights close in the great
majority of stocks. But rush of real
izing sales in the closing transactions
wiped out the earlier gains in a great
many stocks and left them fraction
below last nights close and at or near
the low point touched in a realizing
movement earlier in the day.
The selling to take profits at the
close started in Chicago Gas, which
had been most aggresively strong all
day, rising in the final hour to 81, the
high point of the present upward move
ment. A fall of over a point at the
close induced selling in other stocks.
Sugar also, which was the leader Of the
market, with total of nearly $4,000
shares sold, sagged " in the final deal
ings and had a strong influence in
causing the final decline.
There was manifested a rather ner-
vous watchfulness on the part of the
professional traders for the moment to
take the highest profits, and several
notable selling movements occurred
during the day with this in view. The
early slump in the Rubber shares, on
account Of the reduction Of the semi
annual dividend on the preferred stock
from to 2 per cent, led to one of these
movements. Rubber preferred broke
| 6A at the opening, and the common
and preferred stocks moved rather fe-
verishly all day
But the buying for London account,
| the improved business by the commits
sion houses and the strength in the
| specialties all served to give a strong
undertone to the market. The cover
| ing movement in New Jersey Central
was also an element of strength. There
| fore, while the profit taking caused a
net loss in a majority of stocks in the
list, the decline was small. The gran
gers continued in good request, Bur-
| lington leading. Tobacco was strong
on special causes. Sugar advanced ia,
but lost half of that. Other net gains
were Canadian Pacific, a point; st.
Louis and San Francisco first prefer
red, III on rumors of dividend, and
l.
| fraction. Rubber common lost IL per
cent net and Rubber preferred lost SIS.
The bond market displayed unusual
animation, the sales aggregating 81
| 1885, 900, despite the cessation of trading
| for two hours occasioned by the death
of Mr.. Post. The dealings embraced an
| extensive variety Of issues, in which
marked gains were generally recorded.
| Considerable amounts Of the middle
grade and speculative issues were tax
en- for foreign account, and a revived
| investment demanded by domestic in
| terests was noted for the gild-edged
mortgages. Improvements Of 1902 pei
cent. were scored in many of the lead
ing properties, and there were but few
exceptions to the upward trend of val
ues.
Governments displayed strength and
| gained slight fractions on purchases of
sips, 900.
| Following are the closing prices re-
ported by Prince & Whitley, bankers
and brokers, 16 Broadway, New York,
| and IN Center etraat Nav Hayap.