The daily morning journal and courier., 1897-06-16
FtmanciaI.
Upward Progress of Prices Brought to n
 Halt Yesterday.

Halt Yesterday.
 New York, June 15.-The upward progress of prices was brought to a halt during the progress of trading to- day on the stock exchange, and earlier gains were wiped out, leaving some i'm portant stocks below last nights close. There was no very obvious reason for the reaction beyond the general prin- ciple that reaction Is always bound to come after advance. The long contin- ued steadiness and firmness of the market have inclined the professional traders to count rather more confident ly upon reaction, on the principle that the longer 1t Is delayed the greater the remaining uncertainty that 1t will come. This element worked for reac- tion by raiding special stocks, and help ed to influence the more cautious to take profits under feeling not to over- do good fortune.
 While prices were at times very ma- terially above last nights close, the later recessions brought prices of the majority of stocks back to slightly above or below last nights prevailing | dullness. The announcement of ship ment of se0O,0o in gold by Thursdays s steamer was coupled with the an- nouncement that none of it would be withdrawn from the sub-treasury. The shipment nevertheless had its effect in | selling off the market.
 | The May trade statement shows that, | notwithstanding an increase of over | $11 900 in the merchandise exports over those of a year ago. the imports increased over $22,O00,000, the excess of imports being s1,359,493. Among the statements of imports in April in an- ticipation of tariff changes are 9S,577, ,536 pounds of raw wool, against only about 12, ,0OO0 900 pounds for the same period last year, and TAO, ,114,045 pounds of raw sugar, against 869,510,066 pounds for April of last year. These heavy bal ances are probably still unsettled for the most part, and are bound to affect the exchange situation for some time to come.
 On the other hand, the weeks exports 1 from New York show an increase of '$1, ,98254 over last weeks, and London continues to buy stocks in this market, though in varying amounts, which is true also of the sales. Sugar, Burling- ton, St. Paul and Chicago Gas in the order named absorbed half the deal- ings to-day, showing much narrower range of speculating than for some time Sugar ranged over ? points, but closed with a loss of A.
 The majority of stocks show a frac- tional net gain, New Jersey Central be- ing the most marked exception. This stock fell 21s from the highest, with a loss of 1S net. Some of the most mo- table advances of point or over, most of which also was retained, were East River Gas 21a, Cotton oil ?, and Brook lyn Rapid Transit, Brooklyn Union Gas, Tobacco (With final net loss) Cleveland, Cincinnati, Chicago and St Louis, Denver and Rio Grande, Lake Erie and Western, and Cotton Oil pre- ferred.
 The bond market continued to exhib- it decided degrees of strength, which was more manifest in the inactive se- curities. Trading diminished consider ably from yesterdays total of transac- tions, but there was no abatement ot l the aggressive strength that character ized the speculation for some weeks The low-priced international liens nov ed very narrowly, with late profit talk ing tending to eradicate sharp gains ir a few mortgages. The transactions were $1,971 900.
 Following are the closing prices re- ported by Prince & Whitely, bankers and brokers, 16 Broadway, New York and 15 Center street, New Haven:
 Bid. Asked