The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-06-20
Dealings On New York Exchange
Were Unc0nSeQuential.
SPECULATION DROPS OFF
ONLY A SLIGHT MOVEMENT IN
A FEW SPECIALS.
Not Enough Roadway to Indicate In
Which Direction the Course of
Prices Shall Be Shaped = Drift,
However, Was Downward-Losses
In All Cases-Wheat Market.

New York, June 19.-SDeculation in
stocks has evidently reached a sort OF
equatorial line and is hopelessly becalmed
il the doldrums with not enough mead
way TO indicate in which direction Its
course shall finally be shaped Dealings
today continued profoundly dull, and out
side of the movements OF rev special
stocks which were influenced by lndlNlu-
ual causes the days events were incon-
sequential. As is only natural in mar
ket where the buying demand Is Drac-
tically nil, the drift OF prices was down.
ward. even with a very small BODY OF
offerings to weigh on the market mere
was. iii addition. the sympathetic ettects
of an active liquidation, coupled with
bear pressure in Steel & Wire.
The net results for the day are losses
in almost all cases, and in quite number
of cases these amount to as much as d
point or more. Steel * Wire showed It's
weakness from the opening and dropped
by successive stages, without any deter
mined support being manifest, TO lever
nearly 81 per share below the price or
Saturday. The confusion and uncertainty
as TO the declaration of a dividend at the
coming meeting, due TO the conflicting
utterances of those connected with the
property. showing the existence of dis
pute among the directors themselves, are
responsible for this weakness. Heavy
lines of this stock were taken on by op-
orators on the confident assumption that
q. dividend was to be declared. tederal
Steel and other stocks of companies IN
the steel trade dropped in sympathy;
huVing demand Tor tennessee 1Odl, NfllGh
spread to Colorado Fuel, had large in
fluence in checking the decline i'll the
whole group and affecting the partial re
covery except in Federal Steel. wnlch
sold at the lowest on the last call. The
temporary strength displayed by Sugar
also served as a sustaining lnfluencea
The early drop in the wheat market
stiffened the grangers for awhile, put
they yielded again. 1t is evident that the
public and operators in stocks are walt
ing for the future course of events i'll the
countrys business and industry to be-
come more clearly defined. Although
the buying demand is at a standstill, pres
ent holders show no disposition to sell at
present prices. The market Is a waiting
one. =,
Prices of railroad bonds tended 10 fall,
but business in them was almost as quiet
as in stocks. Total sales, par value.
81 995 600 United States SIS coupon de-
clined i and the old As coupon advanced
Il in the bid price.
The total sales of stocks today amount
ed to 335 $40 shares, including American
Steel. AZ. 800; Sugar, %. 200; Brooklyn Rapid
Transit. % 400; Burlington, $500; Cont
mental Tobacco, G. 500; Federal Steel 60 4Oo
Federal Steel preferred. 1909; LouisVi!;e
& Nashville. 4.500. Manhattan 1000;
Northern Pacific. 1900; People Gas
$500: Reading first preferred. $500; St
Paul. ace; Union Pacific, 6SGl; AtchlSon
preferred. $500; Baltimore q ohio. S,iOO;
Chicago Great Western, 3,4OJ; tennessee
Coal & Iron. "a, 800.