The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-06-29
BULLS ENDEAvORED TO REPEAT
THE DEMONSTRATION OF
PREVIOUS DAY
WERE PARTIALLY SUCCESSFUL
Permanent Strength Was, However,
Lacking-Rapid Advances Were
Scored at the Outset, but the
Dealings Were Not Sufficiently
Heavy to Make "a Strong Market
Such as Was Aimed at.

NEW YORK, June 26.-An effort was
made to repeat the demonstration of
strength in the stock market which was
given by the outburst of activity and
strength which carried prices to the high
est in the closing dealings yesterday, but
with only partial success. Manhattan
was rushed UP to a final quotation Of
1191a, which was 81 above last night s
price, as New York Central was rushed
UP late yesterday. The sympathetic eff
feet of the general list was far below
that of the New York Central movement
Decidedly the most significant feature
OF the days trading was the cessation of
the upward movement in New York Cen
trail and affiliated stocks. There was an
active opening in the stock caused by
the accumulation Of commission house
orders, which was attracted by the recent
strong upward movement of the stock
1t was advanced early in the day almost
a point. The demand was evidently sat
isfied for the time being, and the move
ment lacked snap. The price was al
lowed to lag. There were various fac
tors of strength in the days develop
ments which prevented a break in the
price of railroad stocks, but there was
obvious profit taking at some points, and
the days advances are small except in a
few cases.
The rally at the close did not bring
prices back to the top level The most
potent influence in favor of the bulls was
the favorable disposition manifested to-
wards American securities in the London
market This was in the face of a ten
dency to dullness, and depression in the
general market there. The takings for
London account in this market were es-
timated at 25,000 shares or upwards OF
various stocks. The demand was most
eager for L. & N. which rose nearly
points on. the London demand. Various
rumors We're in circulation of an ap-
preaching Increase in the dividend rate
to account for the rise. Southern rail-
Way preferred was strong, in sympathy
The effect of the London buying was
shown in a drop in the actual rate for
demand sterling to $4.S711. thus precluding
the likelihood of future gold exports at
the present time. The local money mar
ket remained steady in spite of the ac-
tivitv of the speculation in the stock mar
ket Statements of railroad earnings
which were received during the day con-
tinued the extraordinary favorable show
ing.
The cash demand for wheat and the
buying for export were sustaining Iac-
tors in the granger group, even though
the decline in the heavy Northwest re-
CENTS was reported to have set in. In
view of these continued strong features
in the situation an effort was made TO
shift the speculative activity in the lower
grade of railroad stocks, when It was
seen that New York Central had become
ouiasc4nt and profits were being taken
elsewhere. Southern and Western rail-
road stocks were the favorites. Finally
the Industrial stocks, which had been en-
tirelv neglected, were taken In hand Tor
a rise under the encouragement OF the
strength manifested by Sugar and amer
lean Tobacco They proved rather heaVy
70 lift and dropped off in the last hour,
Continental Tobacco and Federal Steel
being especially weak. The frmness at
the close was on short covering lnouceu
by the final squirt in Manhattan.
Railroad bonds were moderately active
and strong. Total sales par value "
745. 600. United States IS coupons oe
clined Ii in the bid price
STOCKS.
The following were the fluctuations OF
the trading railway and industrial Ia SHARES Mares
Furnished by c. H. F. Smith & Co, mem,
hers of the New York stock exchange ana
Chicago board of trade: