The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-06-11
THE WORLDS MARKETS
Daily Record of Commercial and
Financial Transactions.
NEW YORK STOCK REPORT
Digest of Exchange News Mining Stocks,
Metal Quotations-Woo Prices and
Movements-Grain and Pro-
duce-Rsvlew Of Trade,

New York June 10.-Yesterday's nota BILE
rise in prices of stocks brought the .ex
pccted result in large orders to commits
sion houses to buy stocks to-day. These
were put in at the opening and executed
at the high prices to which values were
marked. The professional operators who
have been buying stocks in the last few
days. met this demand with sales to real
ize. After this trading had been con-
cluded, it looked as though the large op-
orators who have started to buy stocks
in the last few days, were ndisposed to
pursue their activity and the market be-
gan to sag on light transactions The
low point was made just before the pub
LEGATION of the bank statement when
prices in many cases were below last
nights level. American Steel and Wire,
Sugar and Atchison preferred st. Louis
Southern preferred, Brooklyn Transit and
Manhattan were the seycrest sufferers
from the reaction. The experts had fig
ured that the bank statement would show
a decrease of $5,000.000 in cash holdings
although 1t was known that 100000 of
the weeks gold shipments figured in the
sta tement. The losses Of the banks to
the sub-treasury were expected to be
heavy Instead of this there was a de-
crease in cash of less than million and
a half and the liberal expansion in loans
of over $40, 900, 600 was evidence of the easy
feeling of bankers over the outlook for
money.
Prices of stocks hardened as a conse-
Quence, and recovered most of the earlier
decline Sugar touched the top price for
the day. and Consolidated Gas rose about
So points. Pennsylvania was consistently
strong throughout on a selection of new
president. and ST. Paul enjoyed the benefit
of its increase of s1O2,00o in gross earn
ings for the first week in June. The bull
leaders are undoubtedly counting on the
favorable effect to be produced by COM
ing reports of railroad earnings which
for the next few weeks Will compare
with the period of last year. when the
Letter wheat deal had its recompense the
price of wheat suddenly dropping and the
movement of grain End consequently the
earnings of railroads had the only notable
setback of the year. As the grain roads
have been making excellent Compa risons
even with the period of the maximum
grain movement last year, the increase
for the next few weeks are expectd to be
phenomenally large. The bull movement
sought to be inaugurated yesterday In
American Steel and Wire proved abortive
and the stock failed to rally from its
weakness to-day. Sugar was compare
lively quiet, but resisted all attempts to
force it down. The selling for London
account because of the Transvaal crisis,
was ignored. The powerful bear party,
whose efforts to get prices down last week
were partly frustrated, renewed their at
tack at the beginning of this week. There
was great confidence manifested in the
short selling of Sugar and when, in the
afternoon of Wednesday, the announce
ment was made that the regular quarter
ly dividend of per cent had been de-
clared, and there was a simultaneous ad-
vance in the price of refined sugar to the
trade, which was acquiesced in by the
rival refining interests, the bears had not
a leg to stand on. The recovery in the
price of sugar correspOnded in violence
with the decline, which had been forced
on tips and rumors with trade was
that there was to be war of eXtermina-
tion and that it was only a question of
time when it would necessitate a suspen-
sion of dividends in order to see it to a
finish. On the same day came the declar-
alton of a semi-annual dividend of ~ per
cent on the preferred stock of the At
Gibson. Topeka g. Santa Fe railroad. This
was a per cent more than the last divi-
dend. 1t came out of the earnings of
the fiscal year ending June 80 next, and