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 A MA
JORFTY OF THE PROMINENT
SHARES.
ONE OF STRENGTH.
Heavy Gold Shipments the Main
Factor in Inducing Free Real
fzinE Sales-BOnds Active.


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 tomorrow's steamer, $1,000, 600 in all
being engaged for export. Additional un-
easiness was 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, 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 list. 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, 500, 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 900 900.
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 $144, 600 900 in face of
continued exports of gold by exchange houses
The amount Of gold in the treasury at the
close OF business yesterday was SAP, 7S3, 1885,
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 Il 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 S25, 900
shares, but nearly two-thirds of that amount
was absorbed by Sugar. the grangers, Chicago
Gas and Bay State Gas. There were 55 900
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 Is net each, and New York
Central small fraction. Northern Pacific
was weak on rumors of 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 We're: Su-
gar, 2B, and Tobacco, Bay State Cas- North
west, Rock Island, Manhattan and New York
Central point or over. Losses, which are
fractional generally extend to a 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., 49,
Omaha pfd, 8; Tobacco script 2, and Erie
telegraph, Minnesota iron and Northwest pfd
a point.
The bond market displayed considerable an
lmatlon today, the transactions exceeding ST.
oOo,O 900. The buoyancy was apparent in va
riety of issues with some sensational advances
noted in the usually inactive mortgage par
tlcuiarly Missouri Pacific collateral fyes
which rose IL per cent to IS. The low-priced
ponds displayed aggressive strength with pur-
chases of the giit-edged liens bv investment
interests tending to accentuate the inward
movement which has been in evidence for q
long Time Governments were slightly higher
on transactions a block of 500 600 of IS con
pom changing hands at 1141b-
The total sales of stocks today were 31S.172
shares, including: Tobacco $500; Sugar. 80
5oo burlington, 500; Chicago Gas, $4,000
l.. & n, $500; Manhattan $500; Missouri Pa,
etc, 5000; Northwest, 1900; Northern Pa
cine pfd;, $500; Omaha, 7,400; Reading, 1900
Rock Island, $4,000; ST. Paul, 81, 100; Union
racine, 1900 Western Union, l., 800; Southern
Railway pfd., 4 100.
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: oAu