The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-06-21
rrN1vorx1 AND ooMMERorAn.

The campaign against values which certain
operators were engaged In last week was re-
pumad this morning. It was successful only In
the casa Of Peoples Gas. which was depressed
nearly 1la y cent. below tho final price OF Satur-
day. Throughout the remainder of tho list only
fractional declines wero recorded. 1t soon be-
came evident that the hammerinE to which the
moro active stocks wero subjected failed TO dis.
lodge stock or induce much selling for short nc
count. On tho contrary. Board Room traders
showed n disposition to play for a rally. More
sVer, at the extreme decline n little buying by
commission houses was discerniblo. These cir
oumstances evidently impaired the conadonceo of
the short interest, and the Afternoon was dc.
voted to recovering stocks recently sold. The
result WINS q sharp rally, particularly In Poo
plo's Gas, which led tho list In point of activity,
and of the active stocks scored the greatest. net
gain.
The recent decline of nearly 10 points in Poo
ple's Gas has been accompanied by reports OF
friction between important interests In tho
management OF the company. which is said to
have resulted from an alleged failure on the
part of tho management TO promote the sale OF
natural gas for fuel purposes. So far as can be
learned, the basis for these reports is not rs
serious as the Street has been led to believe.
Metropolitan Street Railway rallied more
than three points from the lowest price
on information that tho company has
made application to tho State Railroad
Commissioner for authority to increase
its capital $10,O 900 900. The proceeds OF tho
new stock arc to be used to take up the company'S
scrip and defray the expenses OF equipping the
Sixth and Eighth avenue lines with electric
powor. The Street assumed that this now stock
would probably DO offered pro rata to tho pres.
emit shareholders at par. Another noteworthy
movement was an advance Of l y cent. in West
ern Union just at the close, on q report that tho
receivers of the Baltimore and Ohio Railroad
Company have contracted to sell the 81, 100000
of Western Union stock belonging to that COM
pany to a syndicate.
Sugar Refining and the usually active Granger
stocks were fairly active ut net advances aver
aging about a point. The trading in the aggre-
gate was the lightest in several weeks and the
transactions were not particularly we'll distrib-
uted, indicating a falling of in general interest
The Street. however, is inclined to look for q ro-
ViVal of an outside demand for securities AZ
soon as 1t becomes plain that the placing of tho
new Government loan will not disturb the
money market. Present indications are that
the bulk of the loan will be taken by fairly largo
subscribers, and that their payments for tho
bonds will not cause commercial borrowers any
inconvenience. Some of tho buying of stocks
to-day was based upon expectations of decisive
good news from the seat OF war this week. Still
another influence was the fact that tho Balti-
moro and Ohio plan of reorganization will be
- ~ "AehAA N"y W N'Nf SAo
was strong at about the best prices.
New York stock EKchauEo-SaIeS June 30.
UNITED STATES NJ STATE BONDS I'm 81. oooSl.
d. r.1so7..1oehI Va F deb a-ss
6Us4S c.lsO7..1ll of 1ss1...... 7lb
CLOSING PRICES OF UNITED STATES BONDS.
BID. Asssd.v Bid Asked.
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