The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-06-12
new STEP SCORED.
MORE PROGRESS MADE BY STOCKS
TOWARD A BETTER PRICE
PLANE.
CLOSE BELOW THE HIGHEST.
NET GAINS FOR MOST SHARES IN
SPITE OFF REALIZING
SALES.
POPULAR BELIEF IN A BULL POOL
RumOrs Accumulated by the Appar-
ent Manipulation of Some of
the Inactive Securities.

NEW YORK, June 1.-THE prices of securi-
ties today scored further step in the progress
towards a higher plane, which has continued
the dominant tendency of the market now for
over two weeks. There was large amount Of
selling to realize profits, from time to time,
by holders, satisfied with their gains and
skeptical of the stability and permanence Of
the higher range prevailing. But, as has been
the case more and more, notably the offerings
to realize were quickly absorbed, with only a
temporary set back to prices. Closing prices
today were generally below the best, owing to
this proft-.aking, as was the case yesterday,
net gains being considerably less than the ex-
IRENE advance. The aggregate of sales was
not so large as yesterday, being about 300 900,
but was the largest Of the year, except yes
terday. The list of transactions also shows
many additional stocks awakened from a dor
mant state into active trading. This was, in
fact, so markedly the case as to suggest ma
n1pulation with the purpose of bringing in
active stocks UP to the level of the recently
advancing and active securities. There was
talk on the exchange Of a bull pool at work
in certain securities. This belief was ac-
centuated by the halt in the advance of the
active leaders Of the recent upward movement,
notably the grangers. Sugars aggressiIH
strength gave tone to the whole market, the
Duy4hS USluS ilUuCSu Dy the progress MADE
with the sugar schedule. The advance in the
coafers was accelerated by the difficulties OF
the short interest whose needs were aggra-
waited by the increase of the loan rates on the
stocks of this group.
The prices of many stocks were carried he
low last nights close by realizing at one time
or another during the day, but practically all
snow net galnssS the notable exceptions being
Northwest, Omaha and Lead pfd. Tobacco
lost point. Canada Southern at one time
reacted IL, but gained fraction net The
stocks of the iron companies were notably
strong on the trade outlook Net gains were
for the most part fractional, but extended
to point or over in Illinois Steel, Minnesota
Iron, 2; Sugar, 21a; Lackawanna, Canadian
Pacific, Linseed Oil, 2; Pacific Mail and Cen
tral Pacific OF the low-priced shares of re-
organized companies, Northern Pacific pfd
advanced 2A with a reaction Of ~; St.
Louis & San Francisco first pfd, 21s Northern
Pacific Common, Kansas & Texas pfd and
Union Pacific a point over, and the Read
ing stocks and other stocks of this class a
fraction.
The bond market continues to broaden from
day to day, with increasing strength in the
usually dominant mortgages. The inquiry for
these securities Is quite good, with wide Vari-
atoms between bid and asked prices Trans
actions noted are several points above previous
sales with some issues recording exceptional
changes. Trading in the speculative issues
Quoted down somewhat with fluctuations mar
row. The aggregate sales were s., 1851, 100 The
more noteworthy advances included interna-
tienal and Great Northern, 3s 31h per cent
Governments continued to trend upward with
business confined to counter dealings
The total sales of stocks today were 295, 903
shares shares including: Tobacco, 10000; Sugar, A.
4oo; burlington, $4,000; Chicago Gas, II, 300;
Delaware C Hudson, $500; l.. & N, 5,1OO; New
York Central, $500; Omaha, 3,400; Northwest,
$500; Northern Pacific, 12,2C0; do pfd, q, 800;
600; st. Paul, is, 400; Tennessee Coal and Iron.
$500; Union Pacific, q 800; Western Union.
$500; Southern pfd, $780, N. ]. Central,
The following were the fluctuations of the
leading railway and Industrial shares fur
nished by c. H. F. Smith C Co., members
New York stock exchange and Chicago board
of trade: