The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-06-28
STOCKS WE'RE NEGLECTED.
Changes Noted Were in the Direc-
ttoR of Lower
Prices.
FINANCIAL SUMMARY.
Prev.
Close. Day.
Bar silver, New York. 59A 59A
Call money, New York. LOLA 1AQ1k


NEW YORK. June 27.-The charac ter If
the market for securities was v,ry Ii e
G. anged today from that recently prevail ng
Railroad stocks were neglected. and with
the demand being insufficient to abso-b even
the small offerings. Meanwhile individual
spec;aities were taken up and pushed r
out regard TO the general tendency in the
market, and wi bout influence upon l.. There
was sharp drive againss Sugar and Peo-
pies Gas in the opening transactions, which
reduced their price near.y 81 pr shzra. This
was apparently with purpose OF the part
OF the bears to Put a stop to the upward
tendency of some of the spacialtiss. st tie
industrial stocks continued to be infuenc ID
by individual causes and both Sugar md
Peoples Gag were allowed to recover. To
Pullman, Third Av snue ard Brooklyn Trans t
all showed marked strength at one t.me or
another. the latter advancing to Fear 55 on
very heavy buying in tba final hour.
There were few exc1Eti n; to the heav-
mess in the railroad list. the Vanderbilt;
ard RIO Grande Western showing soma te.--
dency to advance. There was also quite an
active demand for Atohson preferred, a. a
small advance in price. which was exp a ne
by the later publication of the May traf-
tie statement. shaving sI an incrs ass in tie
gross earnings of $4S5,e44, and in the net
earnings of $685., 1887.
Part of the dullness in the market is at
new war tax to go into effect July on stock
sales, loans and exchange, especially en-
the two first named. TIE decson of the
internal revenue office that all reissues of
stock certificates. whether fo- transf rs or
merely for an accumulation Of no dir gs into
one certificate, are to be taxed as esi is
sues is considered rather onerous, and meas
ures for illegally avoiding this tax e
quite frankly discussed in Wall street. Cne
measure proposed is to deposit rtifcat
with trust companies and deal in companvs
certificates. The effect of preparations for
the July disbursement. and also the use #
money at inter-or points for subscriptons
for the governments loan. had some~s light
effect on the tone of the money market O.
day. The collection by tie tr. asury of checks
for subscriptions to the bonds of small de-
nominations is also having tn effec OF r
ducing the su5ireasury debit bala9ce at the
clearing house. Rates for monty are not,
however, appreciably changed.
There was a good degree CT activ ty in
bends today, and prices of railway mort
cages were generally higher. To al sal S
So, lie, GEO.. Uni ed S a es IS advarc Il AMI
new As declined n in the bid rr.cs.
The total sales of stocks today wera 275.109
shares, including 1886 Atchison pfd, 7,3-1
Burlington. aga Manhattan, 6 l55 No thern
Pacific 9755 Northern Pacific pfd, 81 ia
Rock Island, 1885 ST. Paul. 1854 Union Pa
lean Spirits pfd, $3.50 Tobacco, 10 1865 Peo-
pies Gas. 3014 Pullman Palace, 22.745 Suyar,
7,215 t. C. & l., $50 La her p. d.. IL $50
Rubber, 4,721 Rubber pfd 81 ,119 West I'm
Union.
The following were the fluctuations of the
leading railway and industrial shares fur
nished by C. H. F. Smith & Co., members
New York stock exchange and Chicago board
of trade: