The Saint Paul globe., 1899-06-13

NEW YORK, June 12.-There was evi-
dence of large buying by powerful finan-
cial interests In a limited number Of
stocks, and of manipulation to advance
prices in the stock market today. Specu-
iation otherwise was In somewhat qui-
escent state. Outside of the special cases
where prices were supported, the one was
rather heavy. Many of the railroads
ranged downward within the limits of a
point during the early trading. There
was organized buying throughout the day
of Federal Steel, which was marked up
nearly three points and closed almost at
the top. There was some sentimental ef-
feet exerted by this on other steel stocks,
American Steel & Wire responding late
in the day on covering shorts But none
of the gains in the group were well held
outside of Federal Steel. The so-called
Flower stocks were all well supported,
and Brooklyn Transit shared its strength
with Metropolitan Street Railway and
Manhattan. This group of New York
traction stocks showed the effects Of
realizing from time to time during the
day and Manhattan was dragged below
last nights close by It's weight
The grangers were taken up at one
time, ST. Paul in the lead, but did not re-
tain all of the gain, and in some instances
more than lost. The coalers were pretty
well sustained, also. Other points of
interest were P, c., C. & ST. L., which
rose 3A; Chicago Terminal preferred, d.
& X. G. issues and the newly. issued Wis.,
consin Central stocks. Sugar fiuctuated
up and down during the whole day, but
always above Saturdays level. 1t rose at
one time three points, but lost it all be-
fore the close.
There was no evidence of outside de-
mand in the market and the railroad
group showed itself affected by the heavy
tone of the foreign stock exchanges on
account of political disquiet The an
nouncement of the resignation of the
French ministry helped the late reaction
in prices. The engagement of an addi-
t!onal 81, ,000, 900 Of gold for export tomor-
row, although the probability of it had
been intimated, also weighed on the mar
ket No effect was apparent In the mon
ey market, which continued easy. EX-
change also though 1t hardened shade,
continues a broad fraction below the
point where experts can figure profit
on gold exports. In fact, 1T is generally
admitted that the gold movement is due
to actual buying of the gold in this mar
ket to replenish the reserve of the Bank
of England, and, probably, also for Rus
sian purposes. This is a precisely similar
operation to that undertaken by the Unit
ed States government through syndi-
cate, to replenish the gold in the treasury
during the last administration. 1t is to
be noted that while the foreign money
markets are thus drawing on New York,
as the most available source of supply,
the banks are offering special induce
ments, such as paying the expressage on
bills RENTED by the banks interior cor
respondents, to secure supply of legal
tender notes to meet the demand Of &C
tive business conditions.
The market for railroad bonds was dull
and sluggish and changes are mixed. To-
tai sales, par value, s2,O00,000. United
States IS and the IS declined A in the
bid price.
STOCKS.
Furnished by Charles III. F. Smith &
Co., members of the New York stock ex-
change, Pioneer Press building, who have
special wires to Chicago and New York.
Closing prices are bid: