The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1897-06-18
NAVAL STORES.
The New York StoeG Market.

New York. June ls-Today was marked
by n continuation OF the heavy prout
taking, which was a feature OF yestcr-
days trading, and though the day closes
with the prices OF many Of the most
prominent stocks below yesterdays closing
prices. the average decline Is small. show
ing good resistance 20 the larg- selling.
There were times during the day when
prices rose sharply above yesterdays
closing. but the higher level invited real
iZtng in each instance. There was a con-
tinuance OF the good commission houss
buying. which has been "A feature for
some time past. and which sutainS values
with remarkable firmness. The short In
terest, however. seems practically clint
mated from the market ami the needs OF
this element, which usually serve to
strengthen an upward movement. werS
not "A factor. The utter dullness OF tho
dealings In London, or account OF the
jubilee festivities, also withdraws "A
stimulating factor.
The announcement that Japan had fled
a protest at Washington. against the an
nexation OF Hawaii. now I'm process Of
negotiation. had an influence on the sell
ing to some extent. though this influence
was largely sentimental. The movement
OF special stocks had a sympathetic effect
on the market which was more important
than that of general conditions. Sugar
was strong on the votes OF yesterday in
the senate disposing OF the sugar sohedul.
but Was, later, depressed on the news
that the treaty for the annexation OF
Hawaii had been signed 10y Secretary
sherman and the Hawaiian representa-
tive. The selling on this news was based
on the presumption that the Sugar Com
pany would derive benefit from the abro-
cation of the Hawaiian reciprocity treaty
ana the imposition of "a tariff on Ha-
wa;ian sugar. This stock was dealt in
today ex-dividend. Chicago Gas was also
very active all day and showed the effect
of large purchases by inside interests.
IN" early advance was practically wiped
out In the later selling movement. Tho
extreme range OF these two stocks was "A
traction over a point. The transactions
in them absorbed fully one-third OF the
total sales. The coalcrs advanced early
Delaware and Hudson to the extent of ID
point, but the bears opened their batteries
upon the group quite ii"rCcly and worked
recessions in New Jersey Central az :
points. Delaware and Hudson 11a and the
Reading shares nearly "A point. Bay
State Gas and East River Gas rose over
a point and East River preferred . points.
Leather. preferred. also advanced quite
strongly, Ia. but reacted subsequently,.
Cleveland, Cincinnati. Chicago and 81.
Louis. preferred, broke to 60. compared
with 10 the last sale. The stock H. very
inactive and the fall is due to the passing
of the dividend. The early advances were
fractional and the declines were enough
in excess to leave fractional net losses
all through the list. The decline extended
to a point or over i'm Louis
Vile and Missouri Pacific. Susquehanna
and Western, preferred. Northern Pacific.
preferred, Tennessee Coal, Western Tn
ion. st. Louis and San Francisco. second
preferred, st. Joe and Grand Island. first
preferred, and Laclede Gas, preferred, 1I2c
net.
The total sales of stocks today were 233.-
522 shares, including American Sugar 46.-
900, Burlington and Quincy i, 800. Chicago
Gas 81. 400. Louisville and Nashville 500.
$500, Narthern Pacific. pre-
ferred. $500, Reading 300, st. Paul l.. 2D.
Western Union 100. New Jersey Central
100. The bond market displayed littl.
feature. but values were all sustained for
the leading shares during the greater
part OF the day, with some OF the less
active securities conspicuous for material
improvements. In the final dealing the
speculative issues tended lower I'm SYM
pathy with the heaviness Of the share
speculation. The sales wcrr 81. 2S1. 90.
Governments were quiet but firm. The
transaCtionS We're Sl2. 900.