The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1899-06-14
Etnancrul.
- - -
The Stock Market

!
| Now York. June 13.-There was a
marked disposition from an early period
| in the days trading to take profits in
many of the stocks which have enjoyed
| q large advance recently. This was ev-
| ident in practically all of the standard
! stocks and made itself increasingly OBJ
vious in the industrial specialties. The
very decided strength manifested by a
small group of the industrials served to
sustain the market for a time and act
ed as a sort of cover to the profit TAX
ing sales which were fed TO the market.
The recent strength of Federal Steel
showed no abatement during the early
hours of the day and other members of
the Flower group, notably Brooklyn
Transit and Peoples Gas were strong
in sympathy and an advance in Metro
poitan, Manhattan and Sugar helped to
keep up prices. The leadership of these
stocks gave place in the course of the
morning to National Steel, American
Hoop, American Smelling and Tin Plate,
the first named rising some five points.
The awakening of activity in this group
which was more prominent in the trad
ing than at any time since they have
been dealt in on the local exchange
seemed to invite realizing elsewhere in
the list and an early break in Consol-
dated Gas followed by pronounced
weakness in Sugar emphasized this
tendency. There was a late rally in
Consolidated Gas and Pressed Steel car
was suddenly marked up to 3d. an adj
vance of over four points. But no effect
was apparent on the general list, which
closed active and weak at the lowest
point generally of the day. Net losses
in the standard railroads were for the
most part between one and two points.
Sugar, which was traded in ex-dividend
of 8 per cent, lost nearly five points on
the day There is an element amongst
the professional operators which habit
ually buys Sugar to realize the dividend
and gets rid Of the holdings between
dividend proceeds. The selling for this
source was an influential element in the
weakness of that stock and, by sympa-
thy, by whole market
Manhattan suffered from realizing on
the declaration of the regular dividend
and on the continued effect of the ad-
j
against the company. The strength of
the Steel stocks, which came to the
front to-day was coincident with the
lively demand for National Steel in
Chicago. Pittsburg, C. C. and ST. Louis
continued strong, but this was practic-
ally the only exception to the weakness
in the railroad list. 1t is probable that
the prospects of a poor bank statement
on the coming Saturday, when a large
part of the Withdrawals Of gold already
made for export will figure, has it's in
huence in prompting to-day's liquida-
ton. No effect was apparent, however,
in the money market, which continued
easy, and there was no upward tenden-
~ in sterling exchange, while there was |
4 sharp fall in the money and discount !
rates in London. The pressure of lioui- |
lation was not heavy at any rate, but |
prices went down easily and there was |
40 evidence of organized support. The
bears helped the late break with ru-
nors of reverses in the Philippines.
There was a large demand and some
strength for Reading As, Colorado and
Southern As and the Wisconsin Central
ssues, both old and new. Total sales
oar value $3,360,0O0.
United States IS declined u and the
Is and new As and the IS 1s in the bid
price.
NEW YORK STOCK MAEnAT.