The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-19
STOCK GAINS LOST
NEW YORK CLOSE NOT FAR FROM
THE PREVIOUS DAYS
LEVEL.
MARKED STRENGTH EARLY.
NET ADVANCE HELD TO THE END
BY SOME OF THE
SHARES.
CHANGE IN RAILROADS SMALL.
Professional Traders WatchfuI to
Take Out Profits or to Join
the Short Side.


NEW YORK, June 1S.-There were evil
dences today of marked strength in the mar
ket for securities and the level of prices was,
at times, materially above yesterdays close
Some stocks held a net advance until the
close OF the market, but some prominent
shares sold off to yesterdays close or below
1t, before the conclusion of the days trading
professional traders are operating on the con-
Vlctlon that general reaction Is due or over
due in the market, and they are watchful
to take profits or to join the short side Lon
don buying and good crop reports were
against this element today, as was the general
OUTLOOK Tor business and the aggressive
strength of special stocks. But they found
an effective instrument in the apprehension
due to the sharp stiffening in the sterling ex-
change market, and the announcement of
gold exports $780, 600 for tomorrow and $780,
600 for next Tuesday. The special demand
for exchange is said to be due to July re-
mittances for dividends and interest payments
ON securities held abroad and for other half
yearly payments, but the statement of the
weeks imports OF dry goods at New York
SHOWS them to be valued at $3,3S9, 102, an in
crease of $434, us over last week. Although
London has bought stocks here today, sales
for London account have been quite large
during the week.
Inc ueallngS were fairly we'll distributed
today In the railway list Missouri Pacific
scored the extreme advance of IL per cent
and reacted Is. Net changes in the railroads
were small either way, some showing gains
and some losses. Western Union and Man
haitian were also quite strong, the former
selling ex-dividend, and both held practically
all the advance. Some of the extreme adj
vances in the day, all partly lost in the
subsequent reaction, were: ST. Joseph &
Grand Island first preferred, 3as; Consolidated
Gas 3; Iowa Central preferred 2; reacting
IA, and a point or over in Sugar, Tobacco
preferred, with the gain held Chicago Gas
Iowa Central, Oregon Navigation, Tennessee
Coal & Iron, Spirits preferred, Tobacco,
Standard Rope, the Reading stocks and Union
Pacific were noticeably weak and scored
sharp net losses.
The bond market displayed a broadening
tendency and general improvements were
registered in more prominent issues. Profit
taking was discernible in some of the specuIa-
tive lines, but a higher range of values was
established. The aggregate sales were ST.
S94, 600. Government bonds hardened slightly
ON light purchases. The sales were $1,000.
The total sales of stocks today were 249, 9OS
shares, including: Tobacco AGO. Sugar so =
600; Santa Fe, $500; Burlington, II, 800; Chi
cage Gas, 2, 100; Chesapeake & Ohio, 30O0
l.. N, 300; Manhattan, 1880; Missouri
$500; N. P. preferred, $780, Reading 4O00
Rock Island, 1900; st. Paul, 81 100; Tennessee
Coal & Iron. $500; Union Pacific, 1880; West
ern Union, 5000; N. ]. c., $500.
The following were the fluctuations of the
leading railway and industrial shares fur
New York stock exchange and Chicago board
of trade: